BioLife Solutions (NASDAQ:BLFS) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of BioLife Solutions (NASDAQ:BLFS) from a hold rating to a buy rating in a report published on Thursday, Zacks.com reports. They currently have $18.00 price objective on the medical equipment provider’s stock.

According to Zacks, “BioLife Solutions has pioneered the next generation of preservation solutions designed to maintain the viability and health of cellular matter and tissues during freezing, transportation and storage. Based on their proprietary bio-packaging technology and a patented understanding of the mechanism of cellular damage and death, these products enable the biotechnology and medical community to address a growing problem that exists today. “

BLFS has been the subject of several other research reports. Maxim Group set a $26.00 price objective on BioLife Solutions and gave the company a buy rating in a research report on Tuesday, September 17th. ValuEngine downgraded BioLife Solutions from a hold rating to a sell rating in a research report on Saturday, October 5th. Northland Securities lifted their price objective on BioLife Solutions from $18.00 to $22.00 and gave the company an outperform rating in a research report on Wednesday, September 4th. HC Wainwright began coverage on BioLife Solutions in a research report on Monday, July 22nd. They issued a buy rating and a $23.00 price objective for the company. Finally, BidaskClub downgraded BioLife Solutions from a buy rating to a hold rating in a research report on Saturday, October 12th. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. The company has a consensus rating of Buy and an average target price of $19.33.

BLFS stock traded down $0.34 during trading on Thursday, hitting $16.33. The company had a trading volume of 79,632 shares, compared to its average volume of 176,938. The company has a fifty day moving average price of $18.24 and a two-hundred day moving average price of $17.81. The company has a current ratio of 9.42, a quick ratio of 7.71 and a debt-to-equity ratio of 0.02. The company has a market cap of $328.98 million, a P/E ratio of 116.64 and a beta of 1.35. BioLife Solutions has a fifty-two week low of $9.15 and a fifty-two week high of $22.44.

BioLife Solutions (NASDAQ:BLFS) last announced its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported $0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.02. BioLife Solutions had a return on equity of 8.65% and a net margin of 14.60%. The business had revenue of $6.70 million for the quarter, compared to analyst estimates of $6.59 million. On average, analysts expect that BioLife Solutions will post 0.08 earnings per share for the current year.

In other news, CEO Michael Rice sold 9,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $17.07, for a total transaction of $153,630.00. Following the completion of the sale, the chief executive officer now owns 184,014 shares in the company, valued at $3,141,118.98. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP James Mathers sold 2,500 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $18.38, for a total value of $45,950.00. Following the sale, the vice president now owns 19,884 shares of the company’s stock, valued at approximately $365,467.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 232,556 shares of company stock valued at $4,416,299. Corporate insiders own 27.00% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. bought a new stake in shares of BioLife Solutions during the second quarter worth $30,000. Alpine Woods Capital Investors LLC bought a new stake in shares of BioLife Solutions during the second quarter worth $170,000. Morgan Stanley raised its position in shares of BioLife Solutions by 17.5% during the second quarter. Morgan Stanley now owns 11,506 shares of the medical equipment provider’s stock worth $195,000 after acquiring an additional 1,713 shares during the last quarter. Menta Capital LLC bought a new stake in shares of BioLife Solutions during the second quarter worth $202,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of BioLife Solutions during the second quarter worth $283,000. Institutional investors own 45.05% of the company’s stock.

About BioLife Solutions

BioLife Solutions, Inc develops, manufactures, and markets grade cell and tissue hypothermic storage and cryopreservation freeze media products for cells, tissues, and organs in the United States. Its products are serum-free and protein-free solutions, which are formulated to reduce preservation-induced cell damage and death.

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