BioLife Solutions (NASDAQ:BLFS) Announces Quarterly Earnings Results, Beats Expectations By $0.06 EPS

BioLife Solutions (NASDAQ:BLFS) issued its earnings results on Thursday. The medical equipment provider reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.06, Zacks reports. The company had revenue of $31.73 million during the quarter, compared to analysts’ expectations of $29.30 million. BioLife Solutions had a negative return on equity of 12.83% and a negative net margin of 45.84%. During the same period in the prior year, the business posted ($0.27) EPS. BioLife Solutions updated its FY 2024 guidance to EPS.

BioLife Solutions Price Performance

Shares of BLFS stock opened at $19.54 on Friday. BioLife Solutions has a fifty-two week low of $8.92 and a fifty-two week high of $24.50. The business’s 50 day moving average price is $17.48 and its 200-day moving average price is $15.94. The company has a current ratio of 2.86, a quick ratio of 1.83 and a debt-to-equity ratio of 0.06.

Insider Transactions at BioLife Solutions

In other news, insider Sarah Aebersold sold 4,000 shares of BioLife Solutions stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $17.65, for a total value of $70,600.00. Following the sale, the insider now directly owns 65,843 shares in the company, valued at approximately $1,162,128.95. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Sarah Aebersold sold 4,000 shares of BioLife Solutions stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $17.65, for a total transaction of $70,600.00. Following the sale, the insider now directly owns 65,843 shares in the company, valued at $1,162,128.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Todd Berard sold 10,000 shares of BioLife Solutions stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $15.67, for a total value of $156,700.00. Following the sale, the chief marketing officer now owns 129,644 shares in the company, valued at $2,031,521.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,996 shares of company stock worth $562,145. 2.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

BLFS has been the subject of several analyst reports. StockNews.com upgraded BioLife Solutions to a “sell” rating in a report on Friday. Jefferies Financial Group initiated coverage on BioLife Solutions in a report on Thursday, April 4th. They set a “buy” rating and a $22.00 target price for the company. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, BioLife Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $23.40.

About BioLife Solutions

BioLife Solutions, Inc develops, manufactures, and markets bioproduction tools and services for the cell and gene therapy (CGT) industry in the United States, Europe, the Middle East, Africa, and internationally. The company's products are used in the basic and applied research, and commercial manufacturing of biologic-based therapies.