BioLife Solutions (NASDAQ:BLFS) released its quarterly earnings data on Thursday. The medical equipment provider reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.01, Morningstar.com reports. BioLife Solutions had a net margin of 1.76% and a return on equity of 2.24%. The business had revenue of $5.29 million during the quarter, compared to analyst estimates of $5.19 million.
Shares of BLFS traded up $1.66 during midday trading on Friday, hitting $13.94. The stock had a trading volume of 427,309 shares, compared to its average volume of 138,147. BioLife Solutions has a 1 year low of $4.63 and a 1 year high of $26.35. The company has a market cap of $199.52 million, a P/E ratio of -66.38 and a beta of 1.46.
Several brokerages have recently weighed in on BLFS. B. Riley set a $22.00 target price on shares of BioLife Solutions and gave the company a “buy” rating in a research note on Friday. ValuEngine downgraded shares of BioLife Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. BidaskClub downgraded shares of BioLife Solutions from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 7th. TheStreet raised shares of BioLife Solutions from a “d” rating to a “c-” rating in a research note on Tuesday, September 11th. Finally, Northland Securities reissued a “buy” rating and issued a $18.00 target price on shares of BioLife Solutions in a research note on Friday, August 10th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $22.00.
A number of hedge funds have recently bought and sold shares of BLFS. Casdin Capital LLC purchased a new position in BioLife Solutions in the 2nd quarter worth about $11,410,000. Renaissance Technologies LLC increased its stake in BioLife Solutions by 644.2% in the 2nd quarter. Renaissance Technologies LLC now owns 206,900 shares of the medical equipment provider’s stock worth $2,361,000 after buying an additional 179,100 shares during the period. Sandler Capital Management purchased a new position in BioLife Solutions in the 2nd quarter worth about $1,723,000. Cadence Capital Management LLC purchased a new position in BioLife Solutions in the 3rd quarter worth about $2,366,000. Finally, Perkins Capital Management Inc. increased its stake in BioLife Solutions by 473.8% in the 2nd quarter. Perkins Capital Management Inc. now owns 157,800 shares of the medical equipment provider’s stock worth $1,800,000 after buying an additional 130,300 shares during the period. 27.51% of the stock is currently owned by institutional investors.
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About BioLife Solutions
BioLife Solutions, Inc develops, manufactures, and markets patented 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, and delayed-onset cell damage and death.
See Also: Outstanding Shares
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