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News: $HBIO Harvard Bioscience Announces Strategic Action Plan and Financial Targets
HOLLISTON, Mass., Sept. 09, 2019 (GLOBE NEWSWIRE) -- Harvard Bioscience, Inc. (Nasdaq: HBIO) today announces its strategic action plan and financial targets for rest of year 2019 through 2021. Key strategic actions and financial targets to position Harvard Bioscience for long-term profit...
Find out more HBIO - Harvard Bioscience Announces Strategic Action Plan and Financial Targets
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News: $HBIO Harvard Bioscience Schedules Second Quarter 2019 Earnings Conference Call for July 25 at 4:30 PM ET
HOLLISTON, Mass., July 19, 2019 (GLOBE NEWSWIRE) -- Harvard Bioscience, Inc. (Nasdaq: HBIO) will announce its quarterly results for the second quarter ended June 30, 2019 after market close on July 25, 2019 and hold a conference call to discuss the results for the second quarter on
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Read the whole news Harvard Bioscience Schedules Second Quarter 2019 Earnings Conference Call for July 25 at 4:30 PM ET
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Poised for a move up?
On Harvard Bioscience
By Robert J. and Brian D. Flaherty
On May 28th my son Brian and I attended the third annual SeeThruEquity Microcap Investor Conference in New York City. Here are presentations we found particularly intriguing.
A Transformative Period Reshaping Harvard Bioscience. Adapt or die!
Nowhere is this truth of human evolution more visible than among the older technology pioneers. Corporate missions must be broadened not only concerning product lines but in where these products are marketed globally. What doesn't fit must go. Everything must flourish or fail on its own merits.
Founded in l901 by a doctor at Harvard Medical School as Harvard Apparatus, this highly respected well regarded operation lagged while revenues have declined.
What to do? In 2013 the company was split in two parts, both based in Holliston, MA. Now each separate management team can concentrate on achieving its destiny.
Spun off last November was exciting Harvard Apparatus Regenerative Technology (Nasdaq:HART-8.83) and top management went along with HART. Here at this clinical stage biotech the focus is on developing and then commercialization of regenerated organs for human transplant. HART is developing the HART-Trachea.
This includes a scaffold, the patients' cells and a bioreactor to restore the structure and or function of a severely damaged trachea plus an automated solid organ bioreactor that has the ability to seed cells on an organ scaffold and keep them sterile and healthy during the growth phase prior to transplant.
A trachea? That's your windpipe which transports air to your lungs. Try living without one! That's exciting. That's also another story.
The spinoff left remaining lagging Holliston, MA -based Harvard Bioscience (HBIO-4.70) which was the first of the companies we visited at the SeeThruEquity conference. HBIO is a tiny pure play global developer, manufacturer and marketer of a broad range of primarily under $20,000 apparatus and scientific instruments, systems, laboratory consumables and accessories such as gloves to advance life science research.
Products are sold to thousands of researchers in over 100 countries. Sales are primarily though their 850 page catalog and other specialty ones, their website, distributors including GE Healthcare and a field sales organization. Products divide into five segments: Fluidics like syringe pumps, Lab Equipment and supplies, Molecular Analysis, Cell Analysis and Animal Research.
Since the old top management decided to head HART, 48-year-old President and CEO Jeff Duchemin came on board in August 2013 free to create his own new youthful transformative team at HBIO. Previously he spent 8 months as Global Business Director at Corning Life Services (NYSE:GLW) after Corning had acquired his unit from mighty Becton Dickinson (NYSE:BDX). At Becton Jeff had a 16 year career of success with positions involving sales, marketing, executive leadership and strategic acquisitions. HBIO's new 40-year-old CFO Robert Gagnon was previously CFO at Clean Harbors, Inc. (NYSE:CLN). Other key top management additions have impressive global experience at mighty Becton Dickinson and /or Corning.
Revenues for 2014 are estimated to be flat in the same range as 2013 of $105 million. Non-GAAP fully diluted earnings per share are estimated at $0.26 and GAAP eps at $0.14, up mainly from cost cutting. That is because the CEO describes 2014 as a bridge year to return the company to topline organic growth in 2015.
Because research consumables have only been growing 1% or so in the U.S. and Europe and instruments 2% rival companies had been shifting emphasis to Asia where growth has been over 7% to low double digits. Failing to do so is one reason HBIO's revenues have been sagging.
Last December HBIO realigned its organization which had been built over last 15 years by a series of acquisitions. The global workforce had been reduced by about 13%. The streamlined structure was revamped for efficiency to accommodate the new management team's mission.
"We are reallocating resources for the purpose of global expansion, "says President Duchemin.
Partnering with Chinese companies to expand distribution in China, a market which has been neglected, should help drive a new global growth strategy. So will reinvigorating product development and accretive product acquisitions.
The prime target is Asia which had not been a high priority for several years. Driving global growth will be emerging markets not only in China but Japan, Korea and India. HBIO is building strategic channels and making better relationships with global distributors. HBIO's strong brands, especially Harvard, should be a hit in China.
"We want to become a company which on an annual basis is launching new products," says Duchemin. "We have a portfolio of new products we're working on. We expect to start delivering new products in the near future."
That is an important statement. Earnings gains this year will come mainly from cost cutting. But real growth must be based on new and improved products plus the new global marketing emphasis to restore growth to the lagging top line. His new top team comes with global skills. "This should help us do business on an international basis," predicts the CEO.
Last and most important in transforming Harvard Bioscience from a small company is its new business development strategy. Acquisitions will be selected to transform HBIO into something much broader. A guess? A few will involve more expensive instruments because these have been growing faster than HBIO's lower priced products.
Hopefully 2015 will show indications of top line growth. Those anticipated new products now with an international market will also increase potential.
Summarizing the transformational restructuring CFO Robert Gagnon ads, "We are confident that the business is going to turn and we are going to start to grow."
For more information please visit: www.harvardbioscience.com.
7:14AM Harvard Biosci announces details of approved spin-off of Harvard Apparatus Regenerative Technology; co will distribute all of its shares of HART common stock on a pro rata basis to those stockholders that hold HBIO common stock at the close of business on Oct 21, 2013 (HBIO) 5.05 : The Board of Directors of Harvard Bioscience has approved the spin-off of its wholly owned regenerative medicine device subsidiary, Harvard Apparatus Regenerative Technology, or HART. To implement the spin-off distribution, Harvard Bioscience will distribute all of its shares of HART common stock on a pro rata basis to those stockholders that hold Harvard Bioscience common stock at the close of business on October 21, 2013, the Record Date for the distribution. Each such shareholder of Harvard Bioscience common stock will receive one share of HART common stock for every four shares of Harvard Bioscience common stock that such shareholder holds at the close of business on the Record Date. The distribution will be effective as of November 1, 2013. As a result of the spin-off, Harvard Bioscience will no longer own any shares of HART common stock and HART will be an independent public company. The dividend of HART common stock will be issued in book-entry form only, which means that no physical HART stock certificates will be issued
HBIO the NEXT ORGANOVO (ONVO) ? HBIO has 3D BIOREACTORS and technology to build organs for transplantation....HBIO market cap much lower than ONVO, although both, imo, could head much higher.
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5:38PM Harvard Biosci affirms plan to spin-off Harvard Apparatus Regenerative Technology, Inc. and announces its intended path forward (HBIO) 4.85 -0.27 : Co announced that it continues to believe that the best path to maximizing value for its shareholders is to spin-off Harvard Apparatus Regenerative Technology, Inc., or HART, its wholly-owned regenerative medicine device subsidiary, to separate that regenerative medicine device business from HBIO's profitable core life science research tools business.
The Company is seeking withdrawal of the Registration Statement because of unfavorable market conditions. To that end, HART will not proceed with its planned initial public offering of its common stock. Instead, HBIO will proceed with the spin-off of HART promptly following the effectiveness of a Registration Statement on Form 10 to be filed by HART with the SEC to become a public reporting company. Harvard Bioscience expects the shares of HART common stock distributed in the spin-off to be publically tradeable, subject to compliance with applicable securities laws. HART intends to withdraw its Registration Statement on Form S-1 filed with the SEC and thereafter file the Registration Statement on Form 10 under the Securities Exchange Act of 1934.
Harvard Bioscience intends to effect the separation of its regenerative medicine business through the spin-off of 100% of HART's common stock to Harvard Bioscience stockholders in a pro-rata, tax-free dividend. Prior to such spin-off, Harvard Bioscience plans to contribute $15 million in cash to fund HART's initial operations. Harvard Bioscience also intends to apply to list HART's common stock on the NASDAQ Capital Market under the symbol "HART" in connection with the spin-off and related Form 10 filing
Riding above the 200 day.
It looks like the market initially likes it.
7:04AM Harvard Biosci announces receipt of private letter ruling and affirms plan to spin-off harvard apparatus regenerative technology following its IPO; HART has set a price range of $10.00 - $12.00 per share of common stock (HBIO) 5.74 : Co announced that it has received a private letter ruling from the Internal Revenue Service that subject to certain conditions, the anticipated spin-off of Harvard Apparatus Regenerative Technology, Inc. will be tax-free for U.S. federal income tax purposes. Harvard Apparatus Regenerative Technology, Inc., or HART, a wholly-owned subsidiary of Harvard Bioscience, has filed a registration statement with the SEC for an initial public offering of HART's common stock. HART has set a price range of $10.00 - $12.00 per share of common stock and has commenced its "road show". It is expected that the offering of HART's common stock will price in early April, with the offering closing shortly thereafter. With respect to the offering, Summer Street Research Partners is sole book-running manager, and Maxim Group LLC is co-lead manager.
MARKETS | 12/12/2012 @ 4:57PM |291 views
Harvard Bioscience Announces Filing of IPO Registration Statement for Harvard Apparatus Regenerative Technology
Comment Now Follow Comments
Harvard Bioscience (HBIO), a global developer, manufacturer and marketer of a broad range of tools to advance life science research and regenerative medicine, announced that its wholly-owned subsidiary, Harvard Apparatus Regenerative Technology, Inc., filed a registration statement with the SEC for an initial public offering, or IPO, of Harvard Apparatus Regenerative Technology’s common stock. Following the IPO, Harvard Apparatus Regenerative Technology will own Harvard Bioscience’s regenerative medicine device business, which develops life-saving medical devices in the field of regenerative medicine, including devices to be used by physicians for growing organs outside the body for transplant.
Following the IPO, Harvard Bioscience will own at least 80% of Harvard Apparatus Regenerative Technology’s common stock.
Harvard Bioscience intends to distribute its remaining interest in Harvard Apparatus Regenerative Technology to Harvard Bioscience’s shareholders in a pro-rata, tax-free dividend approximately 120 days following the closing of the IPO.
Summer Street Research Partners will act as sole book-running manager for the offering.
Harvard Bioscience: Developments Appear Extraordinary
I only seldom venture into the biotech industry (IBB) (XBI). For the most part it's too hard to guess outcomes, and when there seems to be a good chance of the product working, usually the stocks already trade as if the product will be a blockbuster, limiting upside. There are exceptions, such as Affymax (AFFY), where I understood what was at stake well enough to take a flyer on it even before product approval. But the rule is that I am too skeptical to invest in biotech companies.
But then, sometimes, one comes across an article such as this one over at Engadget: "Regenerative medicine pioneer continues changing lives with first successful laryngotracheal implants." Now, I took the facts described in the article at face value. I believed them, and that the operations really took place and were successful as stated and that the tissues really were generated and all. This led me to look for the company the article names: Harvard Bioscience (HBIO).
For a company that far ahead in a race that will prove revolutionary over time, and will be applied to many different organs, I expected to find an incredibly speculated equity.
What I found was different.
I found a company with a rather stable business on scientific instruments, plus the emerging Regenerative Medicine Device (RMD) segment, that's still mostly at venture stage, and was responsible for the feat described in the Engadget article. This meant that the speculative part of the company seems mostly free, given that the company as a whole is trading at a Price/Book of 1, Price/Sales of 1 and forward 2012 P/E of 14.8.
What might deter investors?
Not everything is rosy. The first tracheal implant of the type described above didn't end well, as per the latest 10-Q:
In November 2011, a second patient was given a new trachea made from a synthetic scaffold seeded with his own stem cells in a bioreactor. The patient had been suffering from late stage tracheal cancer. The patient was discharged from the hospital in January 2012. On March 5, 2012, this patient died. The official cause of death recorded on the death certificate was pneumonia secondary to tracheal cancer. We know of no evidence that either the scaffold or the bioreactor played any part in the patients death.
So, from the speculative angle this second attempt really has a lot of risk to it, because if it ends in tracheal cancer again the product will seemed doomed. One should however remember that for the patients to be receiving this kind of treatment, the risk of such outcome must already be quite high which somewhat discounts the first event.
Conclusion
HBIO seems like one of those rare occasions where one can speculatively enter a significant future medical segment at a discounted valuation that implies failure from the start. These kinds of speculations can always end badly, but the potential for incredible returns is there. I would consider this a long shot no matter what, but needless to say, I have already bought into it today.
Disclosure: I am long HBIO.
http://seekingalpha.com/article/690201-harvard-bioscience-developments-appear-extraordinary?source=yahoo
HBIO on watch for secondary offering:
Total Cash (mrq): 17.92M
Total Cash Per Share (mrq): 0.62
Total Debt (mrq): 16.30M
Total Debt/Equity (mrq): 17.07
Current Ratio (mrq): 6.02
Book Value Per Share (mrq): 3.35
~ Monday! $HBIO ~ Earnings posted, pending or coming soon! In Charts and Links Below!
~ $HBIO ~ Earnings expected on Monday *
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One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.
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*If the earnings date is in error please ignore error. I do my best.
Thermo Fisher Scientific Inc. Fourth Quarter Earnings Sneak Peek
Wall St. Cheat SheetWall St. Cheat Sheet – 2 hours 49 minutes ago
S&P 500 component Thermo Fisher Scientific, Inc. will unveil its latest earnings on Wednesday, February 1, 2012. Thermo Fisher Scientific develops, manufactures and sells products to assist the pharmaceutical, biotechnology, academic, government and other research and industrial markets.
Thermo Fisher Scientific, Inc. Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for net income of $1.15 per share, a rise of 15% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from $1.16. Between one and three months ago, the average estimate was unchanged. It has since dropped over the last month. For the year, analysts are projecting profit of $4.13 per share, a rise of 15.7% from last year.
Past Earnings Performance: Last quarter, the company saw net income of $1.07 per share versus a mean estimate of profit of $1.07 per share. This comes after two consecutive quarters of exceeding expectations.
Investing Insights: Will the iPad 3 Be the Next Catalyst for Apple’s Stock?
Wall St. Revenue Expectations: On average, analysts predict $3.08 billion in revenue this quarter, a rise of 10.8% from the year ago quarter. Analysts are forecasting total revenue of $11.66 billion for the year, a rise of 8.1% from last year’s revenue of $10.79 billion.
Analyst Ratings: Analysts are bullish on this stock with 14 analysts rating it as a buy, none rating it as a sell and two rating it as a hold.
A Look Back: In the third quarter, profit fell 1.2% to $265.4 million (69 cents a share) from $268.5 million (66 cents a share) the year earlier, meeting analyst expectations. Revenue rose 10.8% to $2.97 billion from $2.68 billion.
Key Stats:
The decrease in profit in the third quarter broke a streak of three consecutive quarters of year-over-year profit increases. Net income rose more than twofold in the second quarter, 8.6% in the first quarter and 8.9% in the fourth quarter of the last fiscal year.
Revenue has gone up for three straight quarters. It rose 9.4% in the second quarter from the year earlier and 1.7% in the first quarter.
Competitors to Watch: PerkinElmer, Inc. , Becton, Dickinson and Co. , Bruker Corporation , Beckman Coulter, Inc. , Harvard Bioscience, Inc. , Bio-Rad Laboratories, Inc. , CareFusion Corporation , Waters Corporation , Teleflex Incorporated , and Quidel Corporation .
Stock Price Performance: During December 27, 2011 to January 26, 2012, the stock price had risen $6.81 (15%) from $45.50 to $52.31. The stock price saw one of its best stretches over the last year between May 5, 2011 and May 16, 2011 when shares rose for eight-straight days, rising 4.3% (+$2.59) over that span. It saw one of its worst periods between March 11, 2011 and March 18, 2011 when shares fell for six-straight days, falling 4.8% (-$2.67) over that span.
2. Harvard Bioscience Inc. (HBIO): Develops, manufactures, and markets apparatus and scientific instruments used in life science research in pharmaceutical and biotechnology companies, universities, and government laboratories in the United States and internationally. Market cap of $135.33M. Price at $4.75 as of 9/15. Net insider shares purchased over the last six months at 100.0K, which is 0.49% of the company's 20.52M share float. Net institutional shares purchased over the current quarter at 1.6M, which is 7.80% of the company's 20.52M share float. The stock has had a couple of great days, gaining 12.83% over the last week.
http://seekingalpha.com/article/294205-16-stocks-under-5-being-bought-up-by-insiders-and-the-smart-money?source=yahoo
Dude, you see any other companies making tracheas outta thin air? buy, buy, buy!
5 Stocks Under $5 Being Snapped Up By Insiders
3. Harvard Bioscience Inc. (HBIO): Medical Instruments & Supplies Industry. Market cap of $122.22M. PEG at 0.28. Price at $4.26. Net insider purchases over the last six months at 100.0K, which is 0.49% of the company's 20.52M share float. The stock is currently stuck in a downtrend, trading 9.81% below its SMA20, 17.8% below its SMA50, and 11.1% below its SMA200. The stock has performed poorly over the last month, losing 23.94%
http://seekingalpha.com/article/288873-5-stocks-under-5-being-snapped-up-by-insiders?source=yahoo
can't believe this didn't get any attention here after the trachea news!
Russell Announces 2011 Changes: New Additions Should Benefit
http://seekingalpha.com/article/274440-russell-announces-2011-changes-new-additions-should-benefit?source=yahoo
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