Bank of New York Mellon Corp Buys 12,580 Shares of Harrow, Inc. (NASDAQ:HROW)

Bank of New York Mellon Corp lifted its position in shares of Harrow, Inc. (NASDAQ:HROW) by 16.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 88,210 shares of the company’s stock after purchasing an additional 12,580 shares during the period. Bank of New York Mellon Corp owned 0.25% of Harrow worth $1,843,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of HROW. D.A. Davidson & CO. increased its stake in shares of Harrow by 72.2% in the fourth quarter. D.A. Davidson & CO. now owns 65,392 shares of the company’s stock worth $732,000 after purchasing an additional 27,412 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Harrow by 27.9% during the fourth quarter. Franklin Resources Inc. now owns 294,221 shares of the company’s stock worth $3,295,000 after acquiring an additional 64,252 shares in the last quarter. Stifel Financial Corp grew its stake in shares of Harrow by 27.0% during the fourth quarter. Stifel Financial Corp now owns 431,973 shares of the company’s stock valued at $4,838,000 after buying an additional 91,881 shares during the last quarter. Ophir Asset Management Pty Ltd increased its holdings in shares of Harrow by 11.4% in the fourth quarter. Ophir Asset Management Pty Ltd now owns 548,130 shares of the company’s stock worth $6,139,000 after buying an additional 55,951 shares during the period. Finally, Opaleye Management Inc. lifted its position in Harrow by 0.7% in the fourth quarter. Opaleye Management Inc. now owns 3,820,000 shares of the company’s stock valued at $42,784,000 after purchasing an additional 25,000 shares during the last quarter. 72.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

HROW has been the topic of several research analyst reports. B. Riley reissued a “buy” rating and set a $50.00 target price on shares of Harrow in a research note on Thursday, August 29th. Craig Hallum upped their price objective on shares of Harrow from $30.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Lake Street Capital raised their target price on shares of Harrow from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd.

Harrow Price Performance

NASDAQ HROW opened at $43.57 on Wednesday. The company has a quick ratio of 2.43, a current ratio of 2.60 and a debt-to-equity ratio of 3.18. The firm has a market capitalization of $1.55 billion, a P/E ratio of -47.88 and a beta of 0.75. Harrow, Inc. has a 52 week low of $7.60 and a 52 week high of $45.78. The company has a 50-day moving average price of $33.37 and a 200-day moving average price of $21.30.

Harrow (NASDAQ:HROW) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $42.78 million. Equities research analysts anticipate that Harrow, Inc. will post -0.38 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.