BioLife Solutions, Inc. (NASDAQ:BLFS) Given Consensus Recommendation of “Hold” by Analysts

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS) have earned a consensus rating of “Hold” from the eleven brokerages that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $31.3750.

A number of brokerages have recently issued reports on BLFS. Maxim Group downgraded shares of BioLife Solutions from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Zacks Research raised BioLife Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. HC Wainwright downgraded BioLife Solutions from a “buy” rating to a “neutral” rating and lowered their target price for the company from $32.00 to $31.00 in a research report on Thursday, July 23rd. TD Cowen lowered BioLife Solutions from a “buy” rating to a “hold” rating and cut their price target for the company from $33.00 to $31.00 in a report on Wednesday, July 22nd. Finally, Stephens restated an “equal weight” rating and issued a $31.00 price target (down from $32.00) on shares of BioLife Solutions in a research report on Monday, July 27th.

BioLife Solutions Stock Down 0.8%

NASDAQ BLFS opened at $36.11 on Thursday. The company has a 50-day moving average price of $33.57 and a 200-day moving average price of $26.58. BioLife Solutions has a 52 week low of $17.86 and a 52 week high of $38.10. The firm has a market capitalization of $1.77 billion, a P/E ratio of 31.13 and a beta of 1.91.

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

Institutional Investors Weigh In On BioLife Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in BioLife Solutions by 4.0% during the fourth quarter. Vanguard Group Inc. now owns 3,087,386 shares of the medical equipment provider’s stock valued at $74,653,000 after purchasing an additional 119,868 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of BioLife Solutions by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,035,757 shares of the medical equipment provider’s stock worth $19,761,000 after purchasing an additional 10,587 shares in the last quarter. Bank of America Corp DE increased its stake in shares of BioLife Solutions by 73.4% in the first quarter. Bank of America Corp DE now owns 904,103 shares of the medical equipment provider’s stock worth $17,250,000 after purchasing an additional 382,776 shares in the last quarter. Royal Bank of Canada raised its position in shares of BioLife Solutions by 8.1% during the 1st quarter. Royal Bank of Canada now owns 885,298 shares of the medical equipment provider’s stock valued at $16,891,000 after purchasing an additional 66,010 shares during the period. Finally, Granahan Investment Management LLC raised its position in shares of BioLife Solutions by 49.7% during the 1st quarter. Granahan Investment Management LLC now owns 722,057 shares of the medical equipment provider’s stock valued at $13,777,000 after purchasing an additional 239,701 shares during the period. 93.24% of the stock is owned by hedge funds and other institutional investors.

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.