Royce & Associates LP Has $8.70 Million Stake in Harrow, Inc. (NASDAQ:HROW)

Key Points

• Royce & Associates LP increased its holdings in Harrow, Inc. by 12.0% during the first quarter, now owning approximately 0.89% of the company valued at $8.7 million.
• Harrow reported a loss of $0.38 EPS for the recent quarter, missing the consensus estimate, and had revenue of $47.83 million, below analyst projections of $57 million.
• Currently, there is a consensus "Buy" rating from seven research analysts, with an average price target of $63.83 for Harrow stock.

Royce & Associates LP lifted its holdings in shares of Harrow, Inc. (NASDAQ:HROW - Free Report) by 12.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 327,096 shares of the company's stock after buying an additional 35,006 shares during the period. Royce & Associates LP owned about 0.89% of Harrow worth $8,701,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. HighTower Advisors LLC increased its position in Harrow by 13.8% during the fourth quarter. HighTower Advisors LLC now owns 10,127 shares of the company's stock worth $340,000 after buying an additional 1,227 shares in the last quarter. Swiss National Bank boosted its holdings in Harrow by 1.0% in the fourth quarter. Swiss National Bank now owns 59,300 shares of the company's stock valued at $1,990,000 after acquiring an additional 600 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in shares of Harrow by 18.7% during the fourth quarter. Teacher Retirement System of Texas now owns 8,951 shares of the company's stock worth $300,000 after purchasing an additional 1,408 shares in the last quarter. American Century Companies Inc. acquired a new position in shares of Harrow during the fourth quarter worth about $871,000. Finally, Sei Investments Co. lifted its stake in shares of Harrow by 60.8% in the fourth quarter. Sei Investments Co. now owns 25,206 shares of the company's stock worth $846,000 after acquiring an additional 9,527 shares in the last quarter. 72.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HROW. William Blair initiated coverage on Harrow in a research note on Tuesday, June 10th. They set an "outperform" rating on the stock. Cantor Fitzgerald initiated coverage on Harrow in a research note on Friday, July 11th. They set an "overweight" rating and a $76.00 price objective for the company. HC Wainwright lifted their price objective on Harrow from $57.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, May 12th. B. Riley reduced their price target on Harrow from $69.00 to $65.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Finally, BTIG Research began coverage on Harrow in a research note on Thursday, June 12th. They issued a "buy" rating and a $62.00 price objective on the stock. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $63.83.

Harrow Stock Down 1.4%

HROW stock traded down $0.49 during trading hours on Tuesday, reaching $34.37. 102,182 shares of the stock were exchanged, compared to its average volume of 454,857. The firm's 50-day moving average is $31.29 and its 200-day moving average is $28.79. The company has a market cap of $1.26 billion, a price-to-earnings ratio of -61.38 and a beta of 0.41. The company has a debt-to-equity ratio of 2.01, a current ratio of 0.91 and a quick ratio of 0.85. Harrow, Inc. has a 12 month low of $20.85 and a 12 month high of $59.23.

Harrow (NASDAQ:HROW - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.40). Harrow had a negative net margin of 10.19% and a negative return on equity of 25.01%. The company had revenue of $47.83 million during the quarter, compared to the consensus estimate of $57.00 million. On average, equities research analysts expect that Harrow, Inc. will post -0.53 earnings per share for the current year.

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.