Conestoga Capital Advisors LLC Sells 47,580 Shares of BioLife Solutions, Inc. $BLFS

Conestoga Capital Advisors LLC cut its stake in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) by 39.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 74,072 shares of the medical equipment provider’s stock after selling 47,580 shares during the quarter. Conestoga Capital Advisors LLC’s holdings in BioLife Solutions were worth $2,878,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its position in shares of BioLife Solutions by 1.0% during the 1st 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 during the last quarter. Bank of America Corp DE boosted its holdings in shares of BioLife Solutions by 73.4% in the 1st quarter. Bank of America Corp DE now owns 904,103 shares of the medical equipment provider’s stock valued at $17,250,000 after buying an additional 382,776 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of BioLife Solutions by 8.1% in 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 buying an additional 66,010 shares during the last quarter. Granahan Investment Management LLC grew its stake in shares of BioLife Solutions by 49.7% in the first quarter. Granahan Investment Management LLC now owns 722,057 shares of the medical equipment provider’s stock valued at $13,777,000 after buying an additional 239,701 shares in the last quarter. Finally, Ranger Investment Management L.P. bought a new position in shares of BioLife Solutions in the second quarter valued at $6,736,000. 93.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on BLFS. Wall Street Zen lowered shares of BioLife Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. TD Cowen downgraded shares of BioLife Solutions from a “buy” rating to a “hold” rating and decreased their price objective for the company from $33.00 to $31.00 in a research report on Wednesday, July 22nd. Craig Hallum lowered shares of BioLife Solutions from a “buy” rating to a “hold” rating and set a $31.00 price objective on the stock. in a research note on Wednesday, July 22nd. Jefferies Financial Group lowered shares of BioLife Solutions from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $30.00 to $31.00 in a research note on Thursday, July 23rd. Finally, Stephens cut shares of BioLife Solutions from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $32.00 to $31.00 in a report on Monday, July 27th. One equities research analyst has rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, BioLife Solutions presently has an average rating of “Hold” and a consensus price target of $31.38.

BioLife Solutions Stock Performance

Shares of BLFS opened at $38.61 on Thursday. The firm has a market cap of $1.89 billion, a P/E ratio of 33.28 and a beta of 1.82. BioLife Solutions, Inc. has a 52 week low of $17.86 and a 52 week high of $39.76. The firm’s 50-day simple moving average is $37.62 and its 200 day simple moving average is $28.17.

BioLife Solutions (NASDAQ:BLFS) last issued 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. BioLife Solutions had a return on equity of 2.70% and a net margin of 53.29%. The company had revenue of $28.47 million during the quarter, compared to analysts’ expectations of $27.80 million. As a group, equities analysts forecast that BioLife Solutions, Inc. will post 0.03 earnings per share for the current year.

BioLife Solutions Company Profile

BioLife Solutions, Inc develops and supplies products and services used to preserve, process, store and transport biological materials. Its solutions support the development and manufacture of cell and gene therapies, including products designed to help maintain the viability and functionality of cells, tissues and other biologic materials throughout the bioprocessing workflow.

The company’s portfolio includes preservation media such as CryoStor and HypoThermosol, cell thawing and handling products, and related storage and shipping systems.