BioLife Solutions (NASDAQ:BLFS) Sets New 12-Month High – Still a Buy?

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS) reached a new 52-week high during trading on Monday. The stock traded as high as $39.01 and last traded at $39.00, with a volume of 175371 shares trading hands. The stock had previously closed at $38.49.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on BLFS shares. Weiss Ratings upgraded shares of BioLife Solutions from a “sell (d-)” rating to a “hold (c)” rating in a research report on Tuesday, September 22nd. HC Wainwright downgraded BioLife Solutions from a “buy” rating to a “neutral” rating and cut their price objective for the company from $32.00 to $31.00 in a research report on Thursday, July 23rd. Wall Street Zen lowered BioLife Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Benchmark cut BioLife Solutions from a “buy” rating to a “hold” rating in a report on Monday, August 10th. Finally, Maxim Group lowered BioLife Solutions from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $31.38.

BioLife Solutions Stock Performance

The firm’s 50 day simple moving average is $34.81 and its 200-day simple moving average is $27.40. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 33.83 and a beta of 1.91.

BioLife Solutions (NASDAQ:BLFS) last issued its earnings results on Thursday, August 6th. The medical equipment provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.03 by $0.88. BioLife Solutions had a return on equity of 2.70% and a net margin of 53.29%.The business had revenue of $28.47 million during the quarter, compared to analysts’ expectations of $27.80 million. As a group, equities analysts anticipate that BioLife Solutions, Inc. will post 0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BioLife Solutions

Institutional investors and hedge funds have recently bought and sold shares of the business. State of Wyoming purchased a new position in BioLife Solutions during the 1st quarter valued at about $52,000. Hantz Financial Services Inc. boosted its holdings in shares of BioLife Solutions by 42.4% during the fourth quarter. Hantz Financial Services Inc. now owns 2,673 shares of the medical equipment provider’s stock worth $65,000 after purchasing an additional 796 shares during the period. WINTON GROUP Ltd acquired a new stake in shares of BioLife Solutions during the second quarter worth approximately $201,000. AXQ Capital LP acquired a new stake in shares of BioLife Solutions during the second quarter worth approximately $203,000. Finally, Cetera Investment Advisers grew its position in BioLife Solutions by 26.8% during the first quarter. Cetera Investment Advisers now owns 11,614 shares of the medical equipment provider’s stock valued at $222,000 after purchasing an additional 2,458 shares in the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

About BioLife Solutions

BioLife Solutions, Inc develops and supplies tools and services used in the development, manufacture, preservation and distribution of cell and gene therapies. Its products are designed to help maintain the viability and functionality of cells, tissues and other biological materials during processing, freezing, storage and transportation.

The company’s portfolio includes cell and tissue preservation media, thawing and processing solutions, cryogenic storage systems, controlled-rate freezing equipment and related bioproduction technologies.