Geneva Capital Management LLC Has $19.46 Million Holdings in BioLife Solutions, Inc. (NASDAQ:BLFS)

Geneva Capital Management LLC trimmed its position in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) by 0.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 852,127 shares of the medical equipment provider’s stock after selling 614 shares during the quarter. Geneva Capital Management LLC owned approximately 1.79% of BioLife Solutions worth $19,463,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of BioLife Solutions during the fourth quarter valued at about $31,000. US Bancorp DE boosted its stake in shares of BioLife Solutions by 243.7% during the first quarter. US Bancorp DE now owns 2,155 shares of the medical equipment provider’s stock valued at $49,000 after purchasing an additional 1,528 shares in the last quarter. GAMMA Investing LLC raised its position in shares of BioLife Solutions by 18.6% during the first quarter. GAMMA Investing LLC now owns 4,223 shares of the medical equipment provider’s stock worth $96,000 after acquiring an additional 663 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of BioLife Solutions during the fourth quarter worth about $171,000. Finally, Avantax Advisory Services Inc. raised its position in shares of BioLife Solutions by 16.0% during the first quarter. Avantax Advisory Services Inc. now owns 9,077 shares of the medical equipment provider’s stock worth $207,000 after acquiring an additional 1,250 shares during the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BLFS. HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of BioLife Solutions in a research report on Tuesday, May 13th. Wall Street Zen downgraded BioLife Solutions from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Finally, Stephens began coverage on BioLife Solutions in a report on Tuesday, July 22nd. They issued an “overweight” rating and a $30.00 target price for the company. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, BioLife Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $31.00.

BioLife Solutions Trading Down 2.1%

Shares of BLFS stock opened at $20.81 on Monday. The company has a market cap of $995.34 million, a P/E ratio of -71.76 and a beta of 1.76. BioLife Solutions, Inc. has a fifty-two week low of $19.10 and a fifty-two week high of $29.55. The stock has a 50 day simple moving average of $22.00 and a two-hundred day simple moving average of $23.76. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.74 and a current ratio of 4.73.

BioLife Solutions (NASDAQ:BLFS) last released its quarterly earnings data on Thursday, May 8th. The medical equipment provider reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.07. The firm had revenue of $23.94 million during the quarter, compared to the consensus estimate of $22.22 million. BioLife Solutions had a negative return on equity of 0.66% and a negative net margin of 11.81%. Research analysts forecast that BioLife Solutions, Inc. will post -0.3 earnings per share for the current year.

Insider Activity

In related news, major shareholder Casdin Partners Master Fund, L sold 1,000,000 shares of BioLife Solutions stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $23.80, for a total transaction of $23,800,000.00. Following the transaction, the insider owned 7,707,165 shares of the company’s stock, valued at $183,430,527. The trade was a 11.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 1,008,831 shares of company stock worth $23,999,658 over the last 90 days. 2.20% of the stock is owned by insiders.

BioLife Solutions Profile

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.