Zacks Research Downgrades BioLife Solutions (NASDAQ:BLFS) to Hold

BioLife Solutions (NASDAQ:BLFS) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday, Zacks reports.

BLFS has been the subject of several other reports. Craig Hallum cut shares of BioLife Solutions from a “buy” rating to a “hold” rating and set a $31.00 price target for the company. in a research report on Wednesday, July 22nd. Stephens reissued an “equal weight” rating and issued a $31.00 price objective (down from $32.00) on shares of BioLife Solutions in a research note on Monday, July 27th. William Blair set a $31.00 price objective on BioLife Solutions in a report on Thursday, July 23rd. HC Wainwright cut BioLife Solutions from a “buy” rating to a “neutral” rating and decreased their price target for the company from $32.00 to $31.00 in a research note on Thursday, July 23rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of BioLife Solutions in a research note on Friday, July 17th. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $31.38.

BioLife Solutions Trading Up 2.4%

Shares of BLFS stock opened at $38.07 on Monday. The business’s 50-day moving average price is $34.28 and its 200-day moving average price is $27.01. BioLife Solutions has a 12 month low of $17.86 and a 12 month high of $38.28. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 32.82 and a beta of 1.91.

BioLife Solutions (NASDAQ:BLFS) last released its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.88. The company had revenue of $28.47 million during the quarter, compared to the consensus estimate of $27.80 million. BioLife Solutions had a return on equity of 2.70% and a net margin of 53.29%. On average, sell-side analysts predict that BioLife Solutions will post 0.03 earnings per share for the current fiscal year.

Institutional Trading of BioLife Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its position in 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 worth $17,250,000 after purchasing an additional 382,776 shares in the last quarter. Granahan Investment Management LLC lifted 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 worth $13,777,000 after buying an additional 239,701 shares in the last quarter. Ranger Investment Management L.P. purchased a new position in shares of BioLife Solutions in the 2nd quarter worth approximately $6,736,000. Bank of New York Mellon Corp purchased a new position in shares of BioLife Solutions in the 2nd quarter worth approximately $6,470,000. Finally, Summit Creek Advisors LLC purchased a new position in shares of BioLife Solutions in the 2nd quarter worth approximately $5,099,000. 93.24% of the stock is owned by institutional investors.

BioLife Solutions Company Profile

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.