The Manufacturers Life Insurance Company Takes $600,000 Position in Harrow, Inc. $HROW

The Manufacturers Life Insurance Company acquired a new stake in Harrow, Inc. (NASDAQ:HROW) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,138 shares of the company’s stock, valued at approximately $600,000.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Harrow during the second quarter worth about $116,373,000. Vanguard Group Inc. lifted its holdings in Harrow by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 1,921,683 shares of the company’s stock worth $94,162,000 after purchasing an additional 50,889 shares in the last quarter. Luxor Capital Group LP lifted its holdings in Harrow by 22.0% in the 1st quarter. Luxor Capital Group LP now owns 1,119,400 shares of the company’s stock worth $39,470,000 after purchasing an additional 201,859 shares in the last quarter. Geode Capital Management LLC boosted its stake in Harrow by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 785,089 shares of the company’s stock worth $38,477,000 after purchasing an additional 9,445 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Harrow by 56.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 579,520 shares of the company’s stock worth $20,428,000 after purchasing an additional 208,972 shares during the period. Institutional investors own 72.76% of the company’s stock.

Insider Buying and Selling at Harrow

In related news, insider Amir Shojaei sold 11,250 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $40.00, for a total value of $450,000.00. Following the completion of the transaction, the insider directly owned 11,250 shares of the company’s stock, valued at approximately $450,000. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 12.80% of the company’s stock.

Harrow Price Performance

Shares of Harrow stock opened at $38.54 on Monday. The stock has a 50 day moving average of $40.85 and a 200 day moving average of $39.17. Harrow, Inc. has a 12 month low of $28.54 and a 12 month high of $54.85. The firm has a market cap of $1.44 billion, a PE ratio of -38.54 and a beta of 0.24. The company has a current ratio of 2.24, a quick ratio of 2.08 and a debt-to-equity ratio of 19.70.

Harrow (NASDAQ:HROW) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.28). Harrow had a negative net margin of 13.51% and a negative return on equity of 38.00%. The firm had revenue of $70.66 million for the quarter, compared to analysts’ expectations of $70.35 million.

Wall Street Analysts Forecast Growth

HROW has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Harrow from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Zacks Research downgraded shares of Harrow from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 11th. Cantor Fitzgerald dropped 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. BTIG Research reaffirmed a “buy” rating and set a $63.00 target price on shares of Harrow in a research note on Tuesday, August 11th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Harrow in a report on Monday, July 20th. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $69.43.

Harrow Company 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.