BioLife Solutions (NASDAQ:BLFS) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

BioLife Solutions (NASDAQ:BLFS) issued its earnings results on Thursday. The medical equipment provider reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.02, Bloomberg Earnings reports. BioLife Solutions had a return on equity of 8.77% 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. BioLife Solutions updated its FY 2019 guidance to EPS.

BLFS traded down $1.55 during trading on Friday, hitting $17.00. 485,489 shares of the stock were exchanged, compared to its average volume of 160,059. The company has a market cap of $348.73 million, a price-to-earnings ratio of 121.43 and a beta of 1.37. BioLife Solutions has a 1-year low of $9.15 and a 1-year high of $26.35. The company’s fifty day simple moving average is $17.38. The company has a quick ratio of 12.99, a current ratio of 14.50 and a debt-to-equity ratio of 0.02.

Several brokerages have recently weighed in on BLFS. Zacks Investment Research lowered BioLife Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. BidaskClub raised BioLife Solutions from a “hold” rating to a “buy” rating in a research report on Thursday. Northland Securities reissued a “buy” rating and set a $18.00 target price on shares of BioLife Solutions in a research report on Tuesday, July 9th. Maxim Group set a $24.00 target price on BioLife Solutions and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Finally, HC Wainwright began coverage on BioLife Solutions in a research report on Monday, July 22nd. They set a “buy” rating and a $23.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $18.67.

In other BioLife Solutions news, VP James Mathers sold 2,500 shares of BioLife Solutions stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $18.21, for a total transaction of $45,525.00. Following the transaction, the vice president now owns 19,884 shares of the company’s stock, valued at $362,087.64. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Greef Roderick De sold 10,000 shares of BioLife Solutions stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $16.09, for a total value of $160,900.00. Following the transaction, the chief financial officer now directly 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 ninety days, insiders have sold 267,878 shares of company stock worth $4,775,862. 27.00% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. acquired a new position in BioLife Solutions during the second quarter worth approximately $30,000. Cowen Prime Services LLC acquired a new position in BioLife Solutions during the first quarter worth approximately $63,000. Signaturefd LLC acquired a new position in BioLife Solutions during the first quarter worth approximately $161,000. Alpine Woods Capital Investors LLC acquired a new position in BioLife Solutions during the second quarter worth approximately $170,000. Finally, Menta Capital LLC acquired a new position in BioLife Solutions during the second quarter worth approximately $202,000. 45.92% of the stock is currently owned by 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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Earnings History for BioLife Solutions (NASDAQ:BLFS)

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