BioLife Solutions (NASDAQ:BLFS) Rating Lowered to Sell at BidaskClub

BidaskClub lowered shares of BioLife Solutions (NASDAQ:BLFS) from a hold rating to a sell rating in a report published on Friday, BidAskClub reports.

Other equities analysts have also issued research reports about the stock. ValuEngine upgraded shares of BioLife Solutions from a buy rating to a strong-buy rating in a report on Tuesday, March 19th. Zacks Investment Research lowered shares of BioLife Solutions from a hold rating to a sell rating in a report on Tuesday, March 19th. Maxim Group set a $24.00 target price on shares of BioLife Solutions and gave the company a buy rating in a report on Wednesday, May 22nd. Finally, Northland Securities restated a buy rating and set a $18.00 target price on shares of BioLife Solutions in a report on Monday, May 13th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $17.80.

Shares of BLFS opened at $16.56 on Friday. The firm has a market capitalization of $311.31 million, a price-to-earnings ratio of 118.29 and a beta of 1.46. BioLife Solutions has a fifty-two week low of $9.15 and a fifty-two week high of $26.35. The company has a current ratio of 14.50, a quick ratio of 12.99 and a debt-to-equity ratio of 0.02.

BioLife Solutions (NASDAQ:BLFS) last announced its quarterly earnings results on Thursday, May 9th. The medical equipment provider reported $0.03 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.03. The company had revenue of $5.77 million for the quarter, compared to analyst estimates of $5.67 million. BioLife Solutions had a net margin of 17.01% and a return on equity of 10.32%. Sell-side analysts forecast that BioLife Solutions will post 0.12 earnings per share for the current fiscal year.

In related news, CEO Michael Rice sold 7,088 shares of BioLife Solutions stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $17.91, for a total transaction of $126,946.08. Following the sale, the chief executive officer now owns 182,102 shares of the company’s stock, valued at approximately $3,261,446.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Walter Villiger sold 39,883 shares of BioLife Solutions stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $19.18, for a total transaction of $764,955.94. The disclosure for this sale can be found here. Insiders have sold a total of 192,959 shares of company stock worth $3,428,060 in the last ninety days. 38.50% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in BLFS. Cowen Prime Services LLC purchased a new stake in BioLife Solutions during the 1st quarter worth $63,000. Signaturefd LLC bought a new stake in shares of BioLife Solutions in the 1st quarter worth about $161,000. GSA Capital Partners LLP increased its position in shares of BioLife Solutions by 21.1% in the 4th quarter. GSA Capital Partners LLP now owns 13,800 shares of the medical equipment provider’s stock worth $166,000 after purchasing an additional 2,400 shares during the last quarter. Conestoga Capital Advisors LLC bought a new stake in shares of BioLife Solutions in the 1st quarter worth about $238,000. Finally, Weiss Multi Strategy Advisers LLC bought a new stake in shares of BioLife Solutions in the 4th quarter worth about $241,000. 45.76% of the stock is currently owned by hedge funds and other institutional investors.

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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