Goldman Sachs Group Inc. Sells 76,264 Shares of Harrow, Inc. $HROW

Key Points

• Goldman Sachs Group Inc. reduced its stake in Harrow, Inc. by 37.4% in Q1, now holding approximately 0.35% of the company, worth about $3.4 million.
• Harrow reported quarterly earnings of $0.24 per share, significantly surpassing analysts' expectations of $0.01, though falling short on revenue estimates with $63.74 million compared to $64.23 million predicted.
• Equities analysts project a moderate buy sentiment on Harrow's stock, with a consensus price target of $64.67 amid several upgrades from different research firms.

Goldman Sachs Group Inc. lowered its position in shares of Harrow, Inc. (NASDAQ:HROW - Free Report) by 37.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 127,783 shares of the company's stock after selling 76,264 shares during the quarter. Goldman Sachs Group Inc. owned about 0.35% of Harrow worth $3,399,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GF Fund Management CO. LTD. acquired a new stake in shares of Harrow during the fourth quarter worth $25,000. Quarry LP acquired a new stake in shares of Harrow during the first quarter worth $32,000. State of Wyoming acquired a new position in Harrow in the first quarter valued at about $97,000. Strs Ohio acquired a new position in Harrow in the first quarter valued at about $149,000. Finally, GAMMA Investing LLC raised its stake in Harrow by 2,401.2% in the first quarter. GAMMA Investing LLC now owns 6,278 shares of the company's stock valued at $1,670,000 after purchasing an additional 6,027 shares in the last quarter. Institutional investors and hedge funds own 72.76% of the company's stock.

Harrow Stock Down 2.3%

NASDAQ HROW traded down $1.04 on Friday, reaching $44.34. The company had a trading volume of 756,242 shares, compared to its average volume of 522,687. The stock has a market capitalization of $1.64 billion, a P/E ratio of -177.36 and a beta of 0.33. The company's fifty day moving average is $37.28 and its 200 day moving average is $30.61. Harrow, Inc. has a 52-week low of $20.85 and a 52-week high of $59.23. The company has a quick ratio of 0.58, a current ratio of 0.62 and a debt-to-equity ratio of 0.78.

Harrow (NASDAQ:HROW - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.23. The business had revenue of $63.74 million during the quarter, compared to analyst estimates of $64.23 million. Harrow had a negative return on equity of 2.18% and a negative net margin of 4.49%. Harrow has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Harrow, Inc. will post -0.53 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. BTIG Research boosted their price target on Harrow from $62.00 to $63.00 and gave the company a "buy" rating in a research note on Thursday, August 14th. Cantor Fitzgerald started coverage on Harrow in a research note on Friday, July 11th. They set an "overweight" rating and a $76.00 target price for the company. William Blair started coverage on Harrow in a research note on Tuesday, June 10th. They set an "outperform" rating for the company. HC Wainwright boosted their target price on Harrow from $60.00 to $64.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Finally, Zacks Research downgraded Harrow from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 12th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Harrow currently has an average rating of "Moderate Buy" and an average target price of $64.67.

About Harrow

Harrow, Inc operates as an ophthalmic-focused healthcare company. The company owns ImprimisRx, an ophthalmology outsourcing and pharmaceutical compounding business. The company was formerly known as Imprimis Pharmaceuticals, Inc and changed its name to Harrow Health, Inc in December 2018. Harrow Health, Inc was incorporated in 2006 and is headquartered in Nashville, Tennessee.