BioLife Solutions (NASDAQ:BLFS) Raised to “Strong-Buy” at BidaskClub

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BidaskClub upgraded shares of BioLife Solutions (NASDAQ:BLFS) from a buy rating to a strong-buy rating in a research report report published on Thursday morning, BidAskClub reports.

Several other brokerages have also recently weighed in on BLFS. ValuEngine raised shares of BioLife Solutions from a sell rating to a hold rating in a research note on Friday, October 25th. Maxim Group set a $26.00 price objective on shares of BioLife Solutions and gave the stock a buy rating in a research note on Tuesday, September 17th. Zacks Investment Research cut shares of BioLife Solutions from a buy rating to a hold rating in a research note on Wednesday, October 30th. HC Wainwright began coverage on shares of BioLife Solutions in a research note on Monday, July 22nd. They set a buy rating and a $23.00 price objective on the stock. Finally, Northland Securities upped their price objective on shares of BioLife Solutions from $18.00 to $22.00 and gave the stock an outperform rating in a research note on Wednesday, September 4th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. BioLife Solutions has an average rating of Buy and a consensus target price of $19.20.

BioLife Solutions stock traded down $0.05 on Thursday, reaching $16.76. 241,900 shares of the stock were exchanged, compared to its average volume of 172,979. The company has a current ratio of 9.42, a quick ratio of 7.71 and a debt-to-equity ratio of 0.02. The stock has a market cap of $384.52 million, a PE ratio of 119.71 and a beta of 1.35. BioLife Solutions has a twelve month low of $9.15 and a twelve month high of $22.44. The firm has a fifty day moving average price of $16.92 and a two-hundred day moving average price of $17.76.

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

In other news, CFO Greef Roderick De sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $15.63, for a total transaction of $156,300.00. Following the transaction, the chief financial officer now directly owns 35,859 shares in the company, valued at $560,476.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Todd Berard sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $17.97, for a total transaction of $53,910.00. Following the transaction, the vice president now owns 44,074 shares in the company, valued at $792,009.78. The disclosure for this sale can be found here. Insiders have sold 197,556 shares of company stock worth $3,720,974 over the last quarter. 27.00% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in BLFS. Park West Asset Management LLC lifted its position in shares of BioLife Solutions by 1,577.3% during the second quarter. Park West Asset Management LLC now owns 344,255 shares of the medical equipment provider’s stock worth $5,835,000 after purchasing an additional 323,731 shares in the last quarter. BlackRock Inc. lifted its holdings in BioLife Solutions by 129.3% in the second quarter. BlackRock Inc. now owns 541,305 shares of the medical equipment provider’s stock valued at $9,177,000 after buying an additional 305,276 shares during the period. Russell Investments Group Ltd. lifted its holdings in BioLife Solutions by 94.8% in the third quarter. Russell Investments Group Ltd. now owns 582,843 shares of the medical equipment provider’s stock valued at $9,685,000 after buying an additional 283,603 shares during the period. River & Mercantile Asset Management LLP acquired a new position in BioLife Solutions in the second quarter valued at approximately $3,807,000. Finally, FMR LLC acquired a new position in BioLife Solutions in the first quarter valued at approximately $2,684,000. Institutional investors own 45.19% 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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