Wellington Management Group LLP Cuts Position in Harrow, Inc. $HROW

Key Points

• Wellington Management Group LLP has reduced its stake in Harrow, Inc. by 18.1%, selling 16,489 shares and holding a total of 74,739 shares worth approximately $1.99 million.
• Harrow's shares opened at $39.00, with a market capitalization of $1.44 billion, negative net margins of 4.49%, and revenue of $63.74 million reported for the recent quarter, falling short of expectations.
• Equities analysts show a consensus rating of "Buy" for Harrow, with multiple firms raising their target prices significantly, indicating strong confidence in the stock's future performance.

Wellington Management Group LLP reduced its holdings in Harrow, Inc. (NASDAQ:HROW - Free Report) by 18.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 74,739 shares of the company's stock after selling 16,489 shares during the period. Wellington Management Group LLP owned approximately 0.20% of Harrow worth $1,988,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Braidwell LP boosted its stake in shares of Harrow by 106.3% during the 4th quarter. Braidwell LP now owns 907,039 shares of the company's stock worth $30,431,000 after purchasing an additional 467,401 shares during the period. D. E. Shaw & Co. Inc. boosted its stake in shares of Harrow by 6.7% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 664,714 shares of the company's stock worth $22,301,000 after purchasing an additional 41,896 shares during the period. Royce & Associates LP boosted its stake in shares of Harrow by 12.0% during the 1st quarter. Royce & Associates LP now owns 327,096 shares of the company's stock worth $8,701,000 after purchasing an additional 35,006 shares during the period. Northern Trust Corp boosted its stake in shares of Harrow by 7.5% during the 4th quarter. Northern Trust Corp now owns 319,084 shares of the company's stock worth $10,705,000 after purchasing an additional 22,266 shares during the period. Finally, Westside Investment Management Inc. boosted its stake in shares of Harrow by 6.3% during the 1st quarter. Westside Investment Management Inc. now owns 173,856 shares of the company's stock worth $4,625,000 after purchasing an additional 10,315 shares during the period. 72.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HROW has been the topic of a number of research analyst reports. William Blair initiated coverage on shares of Harrow in a research note on Tuesday, June 10th. They issued an "outperform" rating on the stock. BTIG Research upped their price target on shares of Harrow from $62.00 to $63.00 and gave the stock a "buy" rating in a research report on Thursday, August 14th. HC Wainwright boosted their price objective on shares of Harrow from $60.00 to $64.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Cantor Fitzgerald assumed coverage on shares of Harrow in a research note on Friday, July 11th. They set an "overweight" rating and a $76.00 price target on the stock. Finally, Zacks Research upgraded shares of Harrow from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $64.67.

Harrow Stock Down 1.2%

HROW traded down $0.46 during trading hours on Thursday, hitting $36.88. 209,373 shares of the company's stock were exchanged, compared to its average volume of 479,700. The company has a current ratio of 0.62, a quick ratio of 0.58 and a debt-to-equity ratio of 0.78. Harrow, Inc. has a 12-month low of $20.85 and a 12-month high of $59.23. The firm has a market cap of $1.36 billion, a P/E ratio of -147.90 and a beta of 0.33. The firm has a 50 day moving average of $35.07 and a 200 day moving average of $29.56.

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

Harrow Company Profile

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.