BioLife Solutions (NASDAQ:BLFS) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of BioLife Solutions (NASDAQ:BLFS) from a buy rating to a hold rating in a report released on Wednesday morning, Zacks.com reports.

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 topic of several other research reports. BidaskClub upgraded shares of Xilinx from a hold rating to a buy rating in a research report on Saturday, June 29th. ValuEngine upgraded shares of XCel Brands from a sell rating to a hold rating in a research report on Tuesday, July 9th. Northland Securities raised their price objective on shares of Paycom Software from $215.00 to $275.00 and gave the company an outperform rating in a research report on Tuesday, July 9th. Finally, Maxim Group set a $24.00 price objective on shares of BioLife Solutions and gave the company a buy rating in a research report on Wednesday, May 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $17.80.

BioLife Solutions stock opened at $16.93 on Wednesday. The firm’s fifty day moving average is $17.22. The company has a debt-to-equity ratio of 0.02, a quick ratio of 12.99 and a current ratio of 14.50. The stock has a market cap of $318.27 million, a PE ratio of 120.93 and a beta of 1.31. BioLife Solutions has a fifty-two week low of $9.15 and a fifty-two week high of $26.35.

BioLife Solutions (NASDAQ:BLFS) last posted its quarterly earnings data on Thursday, May 9th. The medical equipment provider reported $0.03 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.03. The firm had revenue of $5.77 million for the quarter, compared to analysts’ expectations of $5.67 million. BioLife Solutions had a net margin of 17.01% and a return on equity of 10.32%. On average, equities research analysts forecast that BioLife Solutions will post 0.12 EPS for the current year.

In related news, major shareholder Walter Villiger sold 39,883 shares of BioLife Solutions stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $19.18, for a total value of $764,955.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Greef Roderick De sold 10,000 shares of BioLife Solutions stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $16.09, for a total transaction of $160,900.00. Following the completion of the transaction, the chief financial officer now owns 35,859 shares in the company, valued at approximately $576,971.31. The disclosure for this sale can be found here. In the last quarter, insiders sold 216,871 shares of company stock worth $3,826,019. 27.00% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Cowen Prime Services LLC purchased a new position in BioLife Solutions in the 1st quarter worth $63,000. Signaturefd LLC purchased a new position in BioLife Solutions in the 1st quarter worth $161,000. GSA Capital Partners LLP raised its position in 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 period. Conestoga Capital Advisors LLC purchased a new position in BioLife Solutions in the 1st quarter worth $238,000. Finally, Weiss Multi Strategy Advisers LLC purchased a new position in BioLife Solutions in the 4th quarter worth $241,000. Institutional investors own 45.76% of the company’s stock.

BioLife Solutions Company Profile

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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