BidaskClub Lowers BioLife Solutions (NASDAQ:BLFS) to Hold

BioLife Solutions (NASDAQ:BLFS) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Saturday, BidAskClub reports.

Other equities research analysts have also issued research reports about the company. Northland Securities lifted their price objective on BioLife Solutions from $18.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. ValuEngine lowered BioLife Solutions from a “hold” rating to a “sell” rating in a research note on Saturday, October 5th. Zacks Investment Research lowered BioLife Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Maxim Group set a $26.00 price target on BioLife Solutions and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Finally, HC Wainwright began coverage on BioLife Solutions in a research note on Monday, July 22nd. They set a “buy” rating and a $23.00 price target for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $19.67.

NASDAQ:BLFS opened at $15.21 on Friday. The firm has a market capitalization of $309.37 million, a price-to-earnings ratio of 108.64 and a beta of 1.35. BioLife Solutions has a 52-week low of $9.15 and a 52-week high of $22.44. The stock has a fifty day moving average of $18.67 and a 200 day moving average of $17.87. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.71 and a current ratio of 9.42.

BioLife Solutions (NASDAQ:BLFS) last posted its quarterly earnings data on Thursday, August 8th. The medical equipment provider reported $0.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.02. The company had revenue of $6.70 million during the quarter, compared to analyst estimates of $6.59 million. BioLife Solutions had a return on equity of 8.65% and a net margin of 14.60%. Equities analysts forecast that BioLife Solutions will post 0.08 earnings per share for the current fiscal year.

In other news, Director Raymond W. Cohen sold 5,357 shares of BioLife Solutions stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $16.57, for a total value of $88,765.49. Following the transaction, the director now owns 28,745 shares in the company, valued at $476,304.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Andrew G. Hinson sold 6,000 shares of BioLife Solutions stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $18.82, for a total value of $112,920.00. Following the completion of the transaction, the director now owns 21,747 shares in the company, valued at approximately $409,278.54. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 243,623 shares of company stock valued at $4,603,075. Corporate insiders own 27.00% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BLFS. Marshall Wace LLP increased its holdings in shares of BioLife Solutions by 210.0% in the first quarter. Marshall Wace LLP now owns 30,278 shares of the medical equipment provider’s stock worth $542,000 after buying an additional 20,512 shares during the period. FMR LLC purchased a new position in shares of BioLife Solutions in the first quarter worth about $2,684,000. WINTON GROUP Ltd increased its holdings in shares of BioLife Solutions by 26.3% in the second quarter. WINTON GROUP Ltd now owns 22,118 shares of the medical equipment provider’s stock worth $375,000 after buying an additional 4,607 shares during the period. Penbrook Management LLC purchased a new position in shares of BioLife Solutions in the second quarter worth about $493,000. Finally, Roubaix Capital LLC increased its holdings in shares of BioLife Solutions by 165.9% in the second quarter. Roubaix Capital LLC now owns 120,313 shares of the medical equipment provider’s stock worth $2,039,000 after buying an additional 75,068 shares during the period. Hedge funds and other institutional investors own 45.25% 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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Analyst Recommendations for BioLife Solutions (NASDAQ:BLFS)

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