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. “
Other equities analysts also recently issued reports about the stock. TheStreet upgraded shares of BioLife Solutions from a d rating to a c rating in a report on Wednesday, September 1st. KeyCorp lifted their price target on shares of BioLife Solutions from $50.00 to $60.00 and gave the stock an overweight rating in a report on Friday, August 13th. Cowen lifted their price target on shares of BioLife Solutions from $50.00 to $64.00 and gave the stock an outperform rating in a report on Friday, August 13th. Finally, Northland Securities lifted their price target on shares of BioLife Solutions from $55.00 to $65.00 and gave the stock an outperform rating in a report on Thursday, September 2nd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, BioLife Solutions currently has an average rating of Buy and a consensus target price of $59.13.
BioLife Solutions (NASDAQ:BLFS) last posted its earnings results on Wednesday, August 11th. The medical equipment provider reported ($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.15). BioLife Solutions had a net margin of 4.72% and a negative return on equity of 0.07%. The business had revenue of $31.20 million for the quarter, compared to analysts’ expectations of $28.32 million. On average, research analysts anticipate that BioLife Solutions will post 0.06 EPS for the current year.
In other BioLife Solutions news, VP Aby J. Mathew sold 10,000 shares of BioLife Solutions stock in a transaction that occurred on Monday, July 19th. The shares were sold at an average price of $43.85, for a total transaction of $438,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph C. Schick sold 3,250 shares of BioLife Solutions stock in a transaction that occurred on Thursday, October 7th. The shares were sold at an average price of $40.04, for a total transaction of $130,130.00. The disclosure for this sale can be found here. Insiders sold 233,282 shares of company stock worth $10,832,983 over the last three months. Corporate insiders own 5.90% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Macquarie Group Ltd. purchased a new stake in shares of BioLife Solutions during the second quarter valued at approximately $26,000. Eaton Vance Management purchased a new stake in shares of BioLife Solutions during the first quarter valued at approximately $28,000. Nisa Investment Advisors LLC purchased a new stake in shares of BioLife Solutions during the second quarter valued at approximately $29,000. Citigroup Inc. raised its stake in shares of BioLife Solutions by 25.1% during the second quarter. Citigroup Inc. now owns 1,643 shares of the medical equipment provider’s stock valued at $73,000 after purchasing an additional 330 shares during the period. Finally, Royal Bank of Canada raised its stake in shares of BioLife Solutions by 113.8% during the second quarter. Royal Bank of Canada now owns 1,672 shares of the medical equipment provider’s stock valued at $74,000 after purchasing an additional 890 shares during the period. Institutional investors own 68.31% of the company’s stock.
BioLife Solutions Company Profile
BioLife Solutions, Inc engages in the development, manufacture and marketing of bio preservation tools for cells and tissues. Its product offerings include proprietary hypothermic storage and cryopreservation freeze media products for cells, tissues, and organs, generic blood stem cell freezing and cell thawing media products and custom product formulation and custom packaging services.
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