BioLife Solutions (NASDAQ:BLFS) Rating Lowered to Hold at ValuEngine

ValuEngine cut shares of BioLife Solutions (NASDAQ:BLFS) from a buy rating to a hold rating in a research note published on Saturday, ValuEngine reports.

Other equities research analysts also recently issued research reports about the stock. HC Wainwright assumed coverage on shares of BioLife Solutions in a research note on Monday, July 22nd. They issued a buy rating and a $23.00 price objective on the stock. Maxim Group set a $24.00 price objective on shares of BioLife Solutions and gave the stock a buy rating in a research note on Wednesday, May 22nd. Northland Securities restated a buy rating and issued a $18.00 price objective on shares of BioLife Solutions in a research note on Tuesday, July 9th. BidaskClub upgraded shares of BioLife Solutions from a hold rating to a buy rating in a research note on Thursday. Finally, Zacks Investment Research downgraded shares of BioLife Solutions from a buy rating to a hold rating in a research note on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $18.67.

Shares of BioLife Solutions stock traded down $1.55 during midday trading on Friday, hitting $17.00. The company had a trading volume of 485,489 shares, compared to its average volume of 160,059. The company’s 50 day moving average price is $17.38. The company has a market cap of $348.73 million, a PE ratio of 121.43 and a beta of 1.37. 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 has a 1-year low of $9.15 and a 1-year high of $26.35.

BioLife Solutions (NASDAQ:BLFS) last announced its quarterly earnings data on Thursday, August 8th. The medical equipment provider reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.02. The business had revenue of $6.70 million for the quarter, compared to the consensus estimate of $6.59 million. BioLife Solutions had a net margin of 14.60% and a return on equity of 8.77%. Equities analysts predict that BioLife Solutions will post 0.13 earnings per share for the current fiscal year.

In other BioLife Solutions news, VP Todd Berard sold 3,000 shares of BioLife Solutions stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $16.96, for a total transaction of $50,880.00. Following the sale, the vice president now owns 44,074 shares in the company, valued at $747,495.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 267,878 shares of company stock worth $4,775,862 in the last quarter. Corporate insiders own 27.00% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. lifted its holdings in shares of BioLife Solutions by 230.8% during the second quarter. Russell Investments Group Ltd. now owns 299,240 shares of the medical equipment provider’s stock valued at $5,067,000 after acquiring an additional 208,786 shares during the period. FMR LLC bought a new position in shares of BioLife Solutions during the first quarter valued at $2,684,000. Roubaix Capital LLC lifted its holdings in shares of BioLife Solutions by 165.9% during the second quarter. Roubaix Capital LLC now owns 120,313 shares of the medical equipment provider’s stock valued at $2,039,000 after acquiring an additional 75,068 shares during the period. Quantum Capital Management bought a new position in shares of BioLife Solutions during the first quarter valued at $852,000. Finally, Laurion Capital Management LP lifted its holdings in shares of BioLife Solutions by 74.0% during the first quarter. Laurion Capital Management LP now owns 84,944 shares of the medical equipment provider’s stock valued at $1,520,000 after acquiring an additional 36,136 shares during the period. Hedge funds and other institutional investors own 45.92% 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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