HBIO
Harvard Bioscience, Inc.
HBIO offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
UNH
UnitedHealth Group Incorporated
UNH has the edge over HBIO overall, supported by lower modeled downside and stronger modeled upside.
HBIO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Under pressure | |
| Weak |
HBIO's revenue is currently healthy, and its profitability is stable, but its cash flow and balance sheet are under pressure.
UNH Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Healthy | |
| Healthy |
UNH's cash flow and balance sheet are currently healthy, and its revenue and profitability are stable.
HBIO PE Valuation
HBIO has no meaningful PE right now: it lost money over the past year.
UNH PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 18x | $405 | — |
| Cheap | 19x | $325 | -20% |
| Fair | 23x | $410 | +1.2% |
| Current | 23x | $405 | — |
| Expensive | 30x | $526 | +30% |
Historical ranges are pointers, not guarantees.
UNH's PE is in its fair range at 23x. If earnings grow as analysts expect, today's price would be 18x next year's earnings, in its cheap range.
HBIO Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Growth | |
| Weakening | |
| Limited | |
| High |
Analysts expect HBIO's losses to shrink, with revenue growing.
UNH Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Stable | |
| Improving | |
| Moderate | |
| Low |
Analysts expect UNH's earnings to grow and its profitability to improve, with its revenue holding steady. However, they disagree widely on these estimates.
HBIO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$2.59 | +$9.51 |
| Q2 2026 | -$2.31 | +$10.59 |
| Q1 2026 | -$2.17 | +$10.93 |
| Q4 2025 | -$12.80 | -$10.00 |
| Q3 2025 | -$12.10 | -$8.80 |
| Q2 2025 | -$12.90 | -$10.40 |
| Q1 2025 | -$13.10 | -$11.10 |
| Q4 2024 | -$2.80 | -$2.00 |
HBIO is still losing money, but far less than before: $2.59 per share over the past year, against $13.10 at its worst in early 2025.
UNH Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $22.65 | +29% |
| Q3 2026 | $17.55 | -8.5% |
| Q2 2026 | $15.58 | -33% |
| Q1 2026 | $13.28 | -44% |
| Q4 2025 | $13.23 | -15% |
| Q3 2025 | $19.17 | +25% |
| Q2 2025 | $23.09 | +53% |
| Q1 2025 | $23.89 | +46% |
| Q4 2024 | $15.51 | -35% |
UNH has the edge over HBIO on earnings quality, reporting a profit while its opponent remains loss making.
HBIO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $22.2M | +7.8% |
| Q2 2026 | $22.7M | +11% |
| Q1 2026 | $20.8M | -4.7% |
| Q4 2025 | $23.7M | -3.3% |
| Q3 2025 | $20.6M | -6.3% |
| Q2 2025 | $20.5M | -11% |
| Q1 2025 | $21.8M | -11% |
| Q4 2024 | $24.6M | -13% |
HBIO's revenue is recovering but still below its 2021 peak: $22M last quarter, up 7.8% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -5.2% | -6.1 points |
| Q2 2026 | -4.3% | -0.3 points |
| Q1 2026 | -5.7% | +223 points |
| Q4 2025 | 7.2% | +7.2 points |
| Q3 2025 | 1% | +9.5 points |
| Q2 2025 | -4% | +5 points |
| Q1 2025 | -228% | -219 points |
| Q4 2024 | 0% | -1 points |
HBIO's operating margin was −5.2% last quarter, down 6.1 points from the same quarter a year ago.
UNH Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $112.7B | -0.4% |
| Q2 2026 | $112B | +0.4% |
| Q1 2026 | $111.7B | +2% |
| Q4 2025 | $113.2B | +12% |
| Q3 2025 | $113.2B | +12% |
| Q2 2025 | $111.6B | +13% |
| Q1 2025 | $109.6B | +9.8% |
| Q4 2024 | $100.8B | +6.8% |
UNH has the edge over HBIO on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 5.8% | +2 points |
| Q2 2026 | 7.1% | +2.5 points |
| Q1 2026 | 8.1% | -0.3 points |
| Q4 2025 | 0.3% | -7.4 points |
| Q3 2025 | 3.8% | -4.8 points |
| Q2 2025 | 4.6% | -3.4 points |
| Q1 2025 | 8.3% | +0.4 points |
| Q4 2024 | 7.7% | -0.4 points |
UNH has the edge over HBIO on profitability, with a higher operating margin.
HBIO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$1.2M | -234% |
| Q2 2026 | -$363K | -114% |
| Q1 2026 | -$1.1M | -144% |
| Q4 2025 | -$545K | -138% |
| Q3 2025 | $877K | +$2.6M |
| Q2 2025 | $2.7M | +$4.3M |
| Q1 2025 | $2.5M | +226% |
| Q4 2024 | $1.4M | -59% |
HBIO's free cash flow has turned negative after years in the green: −$3M over the past year.
UNH Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $4.3B | -16% |
| Q2 2026 | $10.3B | +63% |
| Q1 2026 | $8.1B | +79% |
| Q4 2025 | $160M | -89% |
| Q3 2025 | $5.1B | -61% |
| Q2 2025 | $6.3B | +6.9% |
| Q1 2025 | $4.6B | +1037% |
| Q4 2024 | $1.5B | +$7.6B |
UNH has the edge over HBIO on cash generation, producing positive trailing cash flow while its opponent burns cash.
HBIO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.8% | +35K shares |
| 1 year | +2.4% | +105K shares |
| 3 years | +6.8% | +292K shares |
| 5 years | +15% | +582K shares |
| Available history | +21% | +780K shares |
HBIO has 5M diluted shares, up 2.4% from a year ago.
UNH Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.4% | -4M shares |
| 1 year | -0.7% | -6M shares |
| 3 years | -3.6% | -34M shares |
| 5 years | -5.5% | -53M shares |
| Available history | -6.6% | -64M shares |
UNH has the edge over HBIO on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $3.4B |
| Q2 2026 | $1.6B |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $2.5B |
| Q1 2025 | $3B |
| Q4 2024 | $5B |
UNH spent $5B buying back its own shares over the past year, down 52% from the year before.
HBIO Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 10.3x | High |
| Q2 2026 | 6.2x | High |
| Q1 2026 | 5.5x | High |
| Q4 2024 | 43.1x | High |
| Q3 2024 | 30.5x | High |
| Q2 2024 | 15.6x | High |
| Q1 2024 | 6.5x | High |
| Q4 2023 | 3.7x | Elevated |
HBIO's net debt is about 10 years of its operating earnings (EBITDA), down from more than 20 years a year ago.
UNH Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.7x | Healthy |
| Q2 2026 | 1.7x | Healthy |
| Q1 2026 | 2.2x | Moderate |
| Q4 2025 | 2.3x | Moderate |
| Q3 2025 | 1.7x | Healthy |
| Q2 2025 | 1.5x | Healthy |
| Q1 2025 | 1.3x | Healthy |
| Q4 2024 | 1.4x | Healthy |
UNH has the edge over HBIO on leverage, with a lower net debt burden relative to earnings.
HBIO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 68.8 | Neutral |
| Stochastic | 83.0 | Overbought |
HBIO's weekly RSI is 69 (neutral) and its Stochastic is 83 (overbought).
UNH Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 56.4 | Neutral |
| Stochastic | 60.0 | Neutral |
UNH's weekly RSI is 56 (neutral) and its Stochastic is 60 (neutral).
HBIO PE vs Healthcare Sector
HBIO has no meaningful PE right now: it lost money over the past year.
UNH PE vs Healthcare Sector
| Metric | UNH | Sector median | Relative |
|---|---|---|---|
| PE | 23x | 26x | 11% below |
| PE % | 47 | 29 | 18 pts above |
UNH is trading at 23x earnings, a 11% discount to the Healthcare sector's median of 26x.
HBIO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $8.42 | 9.4% above |
| 20 week MA | $7.52 | 22% above |
| 50 week MA | $6.58 | 40% above |
| 100 week MA | $7.00 | 32% above |
| 200 week MA | $23.1 | 60% below |
HBIO has bounced recently, but its long-term trend is still down: it's above its 8-, 20-, 50- and 100-week averages, but 60% below its 200-week average.
UNH Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $394.2 | 2.8% above |
| 20 week MA | $400.5 | 1.2% above |
| 50 week MA | $361.2 | 12% above |
| 100 week MA | $376.0 | 7.8% above |
| 200 week MA | $446.6 | 9.3% below |
UNH has bounced recently, but its long-term trend is still down: it's above its 8-, 20-, 50- and 100-week averages, but 9.3% below its 200-week average.
HBIO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $29.4 | $40.8 | +39% |
| 2021 | $40.8 | $71.0 | +74% |
| 2022 | $71.0 | $27.3 | -62% |
| 2023 | $27.3 | $53.5 | +96% |
| 2024 | $53.5 | $19.8 | -63% |
| 2025 | $19.8 | $7.02 | -65% |
| 2026 YTD | $7.02 | $9.21 | +31% |
HBIO has the edge over UNH on returns for 2026, with the stronger performance.
UNH Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $296.0 | $340.8 | +15% |
| 2021 | $340.8 | $495.4 | +45% |
| 2022 | $495.4 | $531.3 | +7.3% |
| 2023 | $531.3 | $526.5 | -0.9% |
| 2024 | $526.5 | $510.0 | -3.1% |
| 2025 | $510.0 | $331.8 | -35% |
| 2026 YTD | $331.8 | $405.1 | +22% |
UNH has finished three years in a row lower, and it's up 22% so far in 2026.