BioLife Solutions (NASDAQ:BLFS) Releases Earnings Results, Beats Expectations By $0.01 EPS

BioLife Solutions (NASDAQ:BLFS) announced its earnings results on Thursday. The medical equipment provider reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01, Zacks reports. The business had revenue of $28.47 million for the quarter, compared to the consensus estimate of $27.80 million. BioLife Solutions had a positive return on equity of 1.81% and a negative net margin of 2.80%.

BioLife Solutions Trading Up 1.3%

BioLife Solutions stock traded up $0.45 during midday trading on Friday, hitting $34.38. The stock had a trading volume of 160,770 shares, compared to its average volume of 698,325. The stock has a market cap of $1.68 billion, a P/E ratio of -429.45 and a beta of 1.93. BioLife Solutions has a 12 month low of $17.86 and a 12 month high of $34.76. The business has a fifty day moving average price of $28.40 and a 200 day moving average price of $24.00.

Insider Transactions at BioLife Solutions

In other news, major shareholder Casdin Partners Master Fund, L sold 650,000 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $23.70, for a total value of $15,405,000.00. Following the transaction, the insider directly owned 4,757,165 shares in the company, valued at approximately $112,744,810.50. This trade represents a 12.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 1,200,000 shares of company stock worth $28,125,000 in the last quarter. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its position in BioLife Solutions by 2.7% during the second quarter. The Manufacturers Life Insurance Company now owns 20,764 shares of the medical equipment provider’s stock valued at $447,000 after purchasing an additional 555 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of BioLife Solutions by 2.6% in the second quarter. Thrivent Financial for Lutherans now owns 27,278 shares of the medical equipment provider’s stock worth $588,000 after acquiring an additional 702 shares during the last quarter. Quarry LP grew its stake in BioLife Solutions by 50.9% in the third quarter. Quarry LP now owns 2,113 shares of the medical equipment provider’s stock valued at $54,000 after purchasing an additional 713 shares in the last quarter. Millennium Management LLC increased its position in BioLife Solutions by 2.9% in the 3rd quarter. Millennium Management LLC now owns 27,698 shares of the medical equipment provider’s stock worth $707,000 after purchasing an additional 783 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of BioLife Solutions by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,422 shares of the medical equipment provider’s stock valued at $489,000 after buying an additional 914 shares during the last quarter. 93.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BLFS. Maxim Group cut BioLife Solutions from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. William Blair set a $31.00 price objective on shares of BioLife Solutions in a research note on Thursday, July 23rd. Lake Street Capital cut shares of BioLife Solutions from a “buy” rating to a “hold” rating and reduced their target price for the stock from $33.00 to $31.00 in a research report on Wednesday, July 22nd. Zacks Research upgraded shares of BioLife Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. Finally, HC Wainwright lowered shares of BioLife Solutions from a “buy” rating to a “neutral” rating and lowered their price target for the company from $32.00 to $31.00 in a report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $31.38.

BioLife Solutions Company Profile

BioLife Solutions (NASDAQ:BLFS) specializes in biopreservation and cold chain workflow solutions for cell and gene therapies, regenerative medicine and other advanced biologics. The company develops and markets proprietary cryopreservation media and technology platforms designed to maintain cell viability and functionality during processing, storage and transport. BioLife’s product portfolio addresses critical steps in the manufacturing and distribution of cell-based products, helping life science researchers and biopharmaceutical manufacturers protect and preserve living cells.

The company’s flagship offerings include CryoStor, a family of serum-free cryopreservation media; HypoThermosol, a hypothermic storage solution for short-term cell and tissue preservation; and the ThawSTAR system, an automated cell thawing instrument that delivers controlled and reproducible warming of frozen cell therapies.