Wall Street brokerages expect Biolife Solutions (NASDAQ:BLFS) to announce $3.81 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Biolife Solutions’ earnings, with the highest sales estimate coming in at $3.81 million and the lowest estimate coming in at $3.80 million. Biolife Solutions reported sales of $2.37 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 60.8%. The firm is scheduled to issue its next earnings report on Thursday, May 10th.
On average, analysts expect that Biolife Solutions will report full year sales of $14.92 million for the current financial year, with estimates ranging from $14.60 million to $15.24 million. For the next year, analysts anticipate that the company will post sales of $20.29 million per share, with estimates ranging from $20.00 million to $20.57 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Biolife Solutions.
Biolife Solutions (NASDAQ:BLFS) last issued its quarterly earnings data on Thursday, March 8th. The medical equipment provider reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The company had revenue of $3.13 million for the quarter, compared to analysts’ expectations of $3.10 million. Biolife Solutions had a negative return on equity of 37.37% and a negative net margin of 22.82%.
In other Biolife Solutions news, Director Thomas Girschweiler sold 1,025,000 shares of the firm’s stock in a transaction dated Monday, April 9th. The stock was sold at an average price of $5.26, for a total value of $5,391,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Rice sold 12,540 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $5.26, for a total value of $65,960.40. Following the completion of the sale, the chief executive officer now directly owns 152,057 shares in the company, valued at approximately $799,819.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,062,620 shares of company stock worth $5,593,394. Insiders own 36.80% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the business. Essex Investment Management Co. LLC raised its holdings in shares of Biolife Solutions by 199.8% in the 4th quarter. Essex Investment Management Co. LLC now owns 254,096 shares of the medical equipment provider’s stock valued at $1,525,000 after acquiring an additional 169,341 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Biolife Solutions by 901.6% in the 4th quarter. Millennium Management LLC now owns 182,550 shares of the medical equipment provider’s stock valued at $1,095,000 after acquiring an additional 164,324 shares in the last quarter. Finally, Wells Fargo & Company MN purchased a new stake in shares of Biolife Solutions in the 4th quarter valued at about $111,000. 12.09% of the stock is currently owned by hedge funds and other institutional investors.
BLFS traded up $0.06 during trading on Friday, reaching $7.23. 91,860 shares of the company were exchanged, compared to its average volume of 86,523. The stock has a market capitalization of $99.30, a price-to-earnings ratio of -34.71 and a beta of 0.37. Biolife Solutions has a 12-month low of $2.01 and a 12-month high of $7.83.
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About Biolife Solutions
BioLife Solutions, Inc develops, manufactures, and markets patented hypothermic storage and cryopreservation solutions for cells and tissues in the United States. Its products are serum-free and protein-free solutions, which are formulated to reduce preservation-induced, delayed-onset cell damage, and death.
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