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

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

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BLFS has been the topic of a number of other reports. ValuEngine upgraded shares of BioLife Solutions from a sell rating to a hold rating in a research report on Friday, October 25th. Maxim Group set a $26.00 target price on shares of BioLife Solutions and gave the stock a buy rating in a research report on Tuesday, September 17th. Northland Securities raised their target price on shares of BioLife Solutions from $18.00 to $22.00 and gave the stock an outperform rating in a research report on Wednesday, September 4th. HC Wainwright initiated coverage on shares of BioLife Solutions in a research report on Monday, July 22nd. They set a buy rating and a $23.00 target price on the stock. Finally, Zacks Investment Research lowered shares of BioLife Solutions from a buy rating to a hold rating in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Buy and an average target price of $19.20.

Shares of BLFS traded down $0.05 during mid-day trading on Thursday, hitting $16.76. 241,900 shares of the company’s stock were exchanged, compared to its average volume of 172,979. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.71 and a current ratio of 9.42. BioLife Solutions has a fifty-two week low of $9.15 and a fifty-two week high of $22.44. The stock’s 50-day moving average is $16.92 and its 200-day moving average is $17.76. The company has a market cap of $384.52 million, a price-to-earnings ratio of 119.71 and a beta of 1.35.

BioLife Solutions (NASDAQ:BLFS) last announced its earnings results on Thursday, August 8th. The medical equipment provider reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The business had revenue of $6.70 million for the quarter, compared to analyst estimates of $6.59 million. BioLife Solutions had a net margin of 14.60% and a return on equity of 8.65%. As a group, equities research analysts anticipate that BioLife Solutions will post 0.08 EPS for the current year.

In related news, VP Todd Berard sold 3,000 shares of BioLife Solutions stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $17.97, for a total value of $53,910.00. Following the transaction, the vice president now directly owns 44,074 shares in the company, valued at approximately $792,009.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP James Mathers sold 7,500 shares of BioLife Solutions stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $20.45, for a total transaction of $153,375.00. Following the completion of the transaction, the vice president now owns 19,884 shares in the company, valued at $406,627.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 197,556 shares of company stock worth $3,720,974. 27.00% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of BLFS. JPMorgan Chase & Co. purchased a new position in BioLife Solutions in the 2nd quarter valued at $30,000. Alpine Woods Capital Investors LLC purchased a new stake in shares of BioLife Solutions during the 2nd quarter worth $170,000. Morgan Stanley boosted its position in shares of BioLife Solutions by 17.5% during the 2nd quarter. Morgan Stanley now owns 11,506 shares of the medical equipment provider’s stock worth $195,000 after purchasing an additional 1,713 shares in the last quarter. Menta Capital LLC purchased a new stake in shares of BioLife Solutions during the 2nd quarter worth $202,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in shares of BioLife Solutions during the 2nd quarter worth $283,000. Hedge funds and other 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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