BioLife Solutions (NASDAQ:BLFS – Get Free Report) announced its quarterly earnings data on Thursday. The medical equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.88, FiscalAI reports. BioLife Solutions had a return on equity of 2.80% and a net margin of 53.29%.The firm had revenue of $28.47 million for the quarter, compared to analysts’ expectations of $27.80 million.
BioLife Solutions Trading Up 2.2%
Shares of BioLife Solutions stock opened at $34.66 on Friday. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of 29.88 and a beta of 1.93. BioLife Solutions has a twelve month low of $17.86 and a twelve month high of $34.76. The business’s 50 day simple moving average is $28.59 and its 200-day simple moving average is $24.07.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on BLFS shares. Stephens reiterated an “equal weight” rating and issued a $31.00 price target (down from $32.00) on shares of BioLife Solutions in a report on Monday, July 27th. TD Cowen cut BioLife Solutions from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $33.00 to $31.00 in a research note on Wednesday, July 22nd. Zacks Research raised shares of BioLife Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. HC Wainwright lowered shares of BioLife Solutions from a “buy” rating to a “neutral” rating and lowered their target price for the company from $32.00 to $31.00 in a research note on Thursday, July 23rd. Finally, Maxim Group downgraded shares of BioLife Solutions from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $31.38.
Insider Transactions at BioLife Solutions
In related news, major shareholder Casdin Partners Master Fund, L sold 650,000 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $23.70, for a total transaction of $15,405,000.00. Following the completion of the transaction, the insider directly owned 4,757,165 shares in the company, valued at $112,744,810.50. This represents a 12.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 1,200,000 shares of company stock worth $28,125,000. Insiders own 2.20% of the company’s stock.
Institutional Trading of BioLife Solutions
A number of large investors have recently modified their holdings of BLFS. T. Rowe Price Investment Management Inc. increased its stake in BioLife Solutions by 27.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,180,824 shares of the medical equipment provider’s stock valued at $125,273,000 after buying an additional 1,113,972 shares during the period. Invesco Ltd. lifted its stake in shares of BioLife Solutions by 9.2% in the 4th quarter. Invesco Ltd. now owns 3,932,191 shares of the medical equipment provider’s stock worth $95,080,000 after acquiring an additional 332,747 shares during the period. Qube Research & Technologies Ltd lifted its stake in shares of BioLife Solutions by 2,399.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 248,474 shares of the medical equipment provider’s stock worth $5,352,000 after acquiring an additional 238,533 shares during the period. Heights Point Management LP bought a new position in shares of BioLife Solutions in the fourth quarter valued at approximately $5,260,000. Finally, Ameriprise Financial Inc. boosted its holdings in shares of BioLife Solutions by 11.3% in the second quarter. Ameriprise Financial Inc. now owns 1,080,371 shares of the medical equipment provider’s stock valued at $23,271,000 after acquiring an additional 109,959 shares in the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.
About BioLife Solutions
BioLife Solutions (NASDAQ:BLFS) specializes in biopreservation and cold chain workflow solutions for cell and gene therapies, regenerative medicine and other advanced biologics. The company develops and markets proprietary cryopreservation media and technology platforms designed to maintain cell viability and functionality during processing, storage and transport. BioLife’s product portfolio addresses critical steps in the manufacturing and distribution of cell-based products, helping life science researchers and biopharmaceutical manufacturers protect and preserve living cells.
The company’s flagship offerings include CryoStor, a family of serum-free cryopreservation media; HypoThermosol, a hypothermic storage solution for short-term cell and tissue preservation; and the ThawSTAR system, an automated cell thawing instrument that delivers controlled and reproducible warming of frozen cell therapies.
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