BioLife Solutions (NASDAQ:BLFS) Shares Gap Down to $51.06

BioLife Solutions, Inc. (NASDAQ:BLFS) gapped down prior to trading on Wednesday . The stock had previously closed at $51.06, but opened at $49.30. BioLife Solutions shares last traded at $48.94, with a volume of 4,326 shares traded.

BLFS has been the topic of several analyst reports. Zacks Investment Research lowered BioLife Solutions from a “hold” rating to a “sell” rating in a research note on Friday, August 13th. KeyCorp boosted their price objective on shares of BioLife Solutions from $50.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, August 13th. TheStreet raised shares of BioLife Solutions from a “d” rating to a “c” rating in a research report on Wednesday, September 1st. Northland Securities raised their price objective on shares of BioLife Solutions from $55.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, September 2nd. Finally, Cowen lifted their price target on shares of BioLife Solutions from $50.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, August 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, BioLife Solutions has a consensus rating of “Buy” and a consensus target price of $56.44.

The company has a debt-to-equity ratio of 0.01, a current ratio of 4.07 and a quick ratio of 3.25. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 851.14, a price-to-earnings-growth ratio of 91.16 and a beta of 1.42. The firm’s fifty day moving average is $49.02 and its 200-day moving average is $40.73.

BioLife Solutions (NASDAQ:BLFS) last announced its earnings results on Wednesday, August 11th. The medical equipment provider reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.15). BioLife Solutions had a net margin of 4.72% and a negative return on equity of 0.07%. As a group, equities research analysts anticipate that BioLife Solutions, Inc. will post 0.06 EPS for the current year.

In other news, CEO Michael Rice sold 11,461 shares of the company’s stock in a transaction that occurred on Thursday, September 9th. The stock was sold at an average price of $52.59, for a total value of $602,733.99. Following the sale, the chief executive officer now directly owns 276,923 shares in the company, valued at approximately $14,563,380.57. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Todd Berard sold 6,165 shares of the stock in a transaction dated Thursday, July 15th. The stock was sold at an average price of $42.74, for a total value of $263,492.10. The disclosure for this sale can be found here. Insiders sold a total of 211,115 shares of company stock worth $9,876,541 in the last three months. 5.90% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in BLFS. Marshall Wace LLP grew its position in BioLife Solutions by 50.2% during the second quarter. Marshall Wace LLP now owns 1,766,692 shares of the medical equipment provider’s stock valued at $78,636,000 after buying an additional 590,659 shares during the period. BlackRock Inc. raised its holdings in BioLife Solutions by 44.5% in the 2nd quarter. BlackRock Inc. now owns 1,896,772 shares of the medical equipment provider’s stock valued at $84,425,000 after buying an additional 583,954 shares during the period. Palisade Capital Management LLC NJ acquired a new position in shares of BioLife Solutions during the first quarter worth about $13,648,000. Millennium Management LLC boosted its holdings in BioLife Solutions by 323.2% in the first quarter. Millennium Management LLC now owns 458,677 shares of the medical equipment provider’s stock valued at $16,512,000 after purchasing an additional 350,290 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of BioLife Solutions by 24.5% during the second quarter. Vanguard Group Inc. now owns 1,750,494 shares of the medical equipment provider’s stock worth $77,915,000 after purchasing an additional 344,463 shares during the last quarter. Institutional investors own 68.31% of the company’s stock.

BioLife Solutions Company Profile (NASDAQ:BLFS)

BioLife Solutions, Inc engages in the development, manufacture and marketing of bio preservation tools for cells and tissues. Its product offerings include proprietary hypothermic storage and cryopreservation freeze media products for cells, tissues, and organs, generic blood stem cell freezing and cell thawing media products and custom product formulation and custom packaging services.

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