Rice Hall James & Associates LLC Increases Stock Position in Harrow, Inc. $HROW

Key Points

• Rice Hall James & Associates boosted its Harrow stake by 8.5% in the fourth quarter, buying 28,303 additional shares and bringing its holding to 361,998 shares worth about $17.7 million.
• Harrow shares rose 3.4% to $38.93, though the stock remains well below its 52-week high of $54.85 and trades with a negative earnings multiple.
• The company missed quarterly earnings and revenue estimates, reporting EPS of -$0.74 versus the expected -$0.43 and revenue of $44.2 million versus $52.43 million forecast; despite that, analysts still have a Moderate Buy consensus with an average price target of $69.43.

Rice Hall James & Associates LLC lifted its holdings in Harrow, Inc. (NASDAQ:HROW - Free Report) by 8.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 361,998 shares of the company's stock after purchasing an additional 28,303 shares during the period. Rice Hall James & Associates LLC owned about 0.98% of Harrow worth $17,738,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of HROW. Royal Bank of Canada lifted its position in shares of Harrow by 102.5% in the 1st quarter. Royal Bank of Canada now owns 9,813 shares of the company's stock worth $261,000 after purchasing an additional 4,967 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Harrow by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,146 shares of the company's stock valued at $483,000 after acquiring an additional 790 shares during the last quarter. Strs Ohio purchased a new stake in Harrow during the first quarter valued at approximately $149,000. Legal & General Group Plc lifted its position in Harrow by 12.4% during the second quarter. Legal & General Group Plc now owns 30,753 shares of the company's stock valued at $939,000 after acquiring an additional 3,384 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in Harrow by 9.3% during the second quarter. Rhumbline Advisers now owns 46,969 shares of the company's stock valued at $1,434,000 after acquiring an additional 3,994 shares during the last quarter. Hedge funds and other institutional investors own 72.76% of the company's stock.

Harrow Trading Up 3.4%

Shares of Harrow stock opened at $38.93 on Tuesday. The company has a current ratio of 2.48, a quick ratio of 2.30 and a debt-to-equity ratio of 10.30. Harrow, Inc. has a 12-month low of $28.54 and a 12-month high of $54.85. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of -94.95 and a beta of 0.28. The firm's 50 day simple moving average is $36.09 and its two-hundred day simple moving average is $41.62.

Harrow (NASDAQ:HROW - Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.43) by ($0.31). Harrow had a negative net margin of 5.57% and a positive return on equity of 19.59%. The company had revenue of $44.20 million for the quarter, compared to analyst estimates of $52.43 million. During the same quarter in the previous year, the company posted ($0.38) EPS. Analysts predict that Harrow, Inc. will post 0.29 EPS for the current year.

Wall Street Analysts Forecast Growth

HROW has been the subject of a number of analyst reports. Weiss Ratings cut shares of Harrow from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, April 22nd. HC Wainwright reissued a "buy" rating and set a $70.00 target price on shares of Harrow in a research report on Thursday, March 19th. Cantor Fitzgerald decreased their target price on shares of Harrow from $91.00 to $88.00 and set an "overweight" rating for the company in a research report on Wednesday, May 13th. Wall Street Zen cut shares of Harrow from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. Finally, William Blair reissued an "outperform" rating on shares of Harrow in a research report on Tuesday, March 3rd. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $69.43.

Insider Transactions at Harrow

In other news, Director Adrienne L. Graves purchased 1,000 shares of the company's stock in a transaction on Monday, May 18th. The shares were acquired at an average price of $31.07 per share, for a total transaction of $31,070.00. Following the purchase, the director owned 1,000 shares in the company, valued at $31,070. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew R. Boll purchased 3,500 shares of the company's stock in a transaction on Thursday, May 14th. The shares were purchased at an average price of $29.90 per share, for a total transaction of $104,650.00. Following the purchase, the chief financial officer owned 814,679 shares in the company, valued at approximately $24,358,902.10. The trade was a 0.43% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 12.80% of the company's stock.

Harrow Profile

Harrow Health, Inc NASDAQ: HROW is a U.S.-based commercial-stage biopharmaceutical company specializing in ophthalmic therapeutics and diagnostics. The company focuses on the development, manufacturing and distribution of proprietary, generic and branded eye care products designed to treat a range of ocular conditions, including glaucoma, ocular hypertension, dry eye disease and other anterior segment disorders.

Through its wholly owned affiliate ImprimisRx, Harrow Health offers a direct-to-physician model for customized formulations as well as low-cost generic alternatives.

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