StockNews.com Downgrades BioLife Solutions (NASDAQ:BLFS) to Sell

by · The Cerbat Gem

StockNews.com lowered shares of BioLife Solutions (NASDAQ:BLFS – Free Report) from a hold rating to a sell rating in a report issued on Monday morning.

BLFS has been the topic of a number of other reports. Northland Securities boosted their target price on BioLife Solutions from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 8th. Benchmark reaffirmed a “buy” rating and set a $30.00 price objective on shares of BioLife Solutions in a research note on Thursday, December 19th. KeyCorp raised their target price on shares of BioLife Solutions from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Finally, HC Wainwright boosted their price target on shares of BioLife Solutions from $27.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, March 6th. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, BioLife Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $29.86.

Get Our Latest Report on BioLife Solutions

BioLife Solutions Price Performance

Shares of NASDAQ:BLFS opened at $23.78 on Monday. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -22.43 and a beta of 2.04. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.78 and a quick ratio of 1.78. BioLife Solutions has a 12 month low of $14.84 and a 12 month high of $29.55. The stock’s 50 day moving average price is $26.11 and its 200 day moving average price is $25.54.

BioLife Solutions (NASDAQ:BLFS – Get Free Report) last posted its quarterly earnings data on Monday, March 3rd. The medical equipment provider reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.32. BioLife Solutions had a negative return on equity of 6.61% and a negative net margin of 38.98%. The company had revenue of $22.71 million for the quarter, compared to the consensus estimate of $21.73 million. During the same quarter in the previous year, the business earned ($0.21) EPS. Equities research analysts anticipate that BioLife Solutions will post -0.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Troy Wichterman sold 987 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $27.02, for a total value of $26,668.74. Following the completion of the sale, the chief financial officer now directly owns 121,779 shares in the company, valued at approximately $3,290,468.58. The trade was a 0.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Sarah Aebersold sold 5,632 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $24.96, for a total value of $140,574.72. Following the sale, the insider now directly owns 45,860 shares of the company’s stock, valued at $1,144,665.60. The trade was a 10.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,117 shares of company stock valued at $534,442 in the last three months. Insiders own 2.20% of the company’s stock.

Institutional Trading of BioLife Solutions

Several large investors have recently modified their holdings of the company. Intech Investment Management LLC acquired a new position in BioLife Solutions during the 3rd quarter worth $255,000. Charles Schwab Investment Management Inc. increased its stake in shares of BioLife Solutions by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 319,959 shares of the medical equipment provider’s stock worth $8,012,000 after purchasing an additional 9,750 shares during the period. Cerity Partners LLC lifted its position in shares of BioLife Solutions by 6.6% during the 3rd quarter. Cerity Partners LLC now owns 44,914 shares of the medical equipment provider’s stock worth $1,125,000 after purchasing an additional 2,776 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in BioLife Solutions by 40.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 19,463 shares of the medical equipment provider’s stock valued at $487,000 after purchasing an additional 5,638 shares during the period. Finally, D.A. Davidson & CO. acquired a new stake in BioLife Solutions in the 3rd quarter valued at approximately $1,018,000. 93.24% of the stock is owned by institutional investors.

About BioLife Solutions

(Get Free Report)

BioLife Solutions, Inc develops, manufactures, and markets bioproduction tools and services for the cell and gene therapy (CGT) industry in the United States, Europe, the Middle East, Africa, and internationally. The company’s products are used in the basic and applied research, and commercial manufacturing of biologic-based therapies.

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