Equitable Trust Co. Sells 25,275 Shares of Harrow, Inc. (NASDAQ:HROW)

Equitable Trust Co. trimmed its position in shares of Harrow, Inc. (NASDAQ:HROW) by 30.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 58,225 shares of the company’s stock after selling 25,275 shares during the quarter. Equitable Trust Co.’s holdings in Harrow were worth $2,618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its position in Harrow by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,283 shares of the company’s stock valued at $57,000 after buying an additional 227 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Harrow by 5.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,865 shares of the company’s stock worth $248,000 after acquiring an additional 567 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Harrow by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,672 shares of the company’s stock valued at $221,000 after acquiring an additional 1,033 shares during the period. nVerses Capital LLC purchased a new stake in shares of Harrow in the 2nd quarter worth $33,000. Finally, BNP Paribas Financial Markets raised its holdings in Harrow by 12.7% in the 1st quarter. BNP Paribas Financial Markets now owns 16,941 shares of the company’s stock worth $224,000 after purchasing an additional 1,912 shares during the period. 72.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HROW. Craig Hallum boosted their price target on Harrow from $45.00 to $65.00 and gave the company a “buy” rating in a report on Friday, October 4th. B. Riley reissued a “buy” rating and issued a $50.00 target price on shares of Harrow in a report on Thursday, August 29th. Finally, Lake Street Capital raised their target price on shares of Harrow from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, October 4th.

Harrow Price Performance

NASDAQ:HROW opened at $52.51 on Friday. The business’s 50-day simple moving average is $47.16 and its two-hundred day simple moving average is $31.14. Harrow, Inc. has a 52 week low of $7.60 and a 52 week high of $59.23. The stock has a market cap of $1.86 billion, a PE ratio of -55.27 and a beta of 0.76. The company has a quick ratio of 2.43, a current ratio of 2.60 and a debt-to-equity ratio of 3.18.

Harrow (NASDAQ:HROW) last issued its earnings results on Wednesday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.12. Harrow had a negative return on equity of 40.59% and a negative net margin of 21.78%. The company had revenue of $48.94 million for the quarter, compared to the consensus estimate of $42.78 million. As a group, analysts forecast that Harrow, Inc. will post 0.09 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.