Zacks: Brokerages Anticipate BioLife Solutions Inc (BLFS) Will Announce Quarterly Sales of $5.20 Million

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Equities research analysts forecast that BioLife Solutions Inc (NASDAQ:BLFS) will post $5.20 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for BioLife Solutions’ earnings. The lowest sales estimate is $5.00 million and the highest is $5.36 million. BioLife Solutions reported sales of $2.96 million during the same quarter last year, which indicates a positive year over year growth rate of 75.7%. The business is expected to report its next earnings report on Thursday, November 8th.

According to Zacks, analysts expect that BioLife Solutions will report full year sales of $19.63 million for the current financial year, with estimates ranging from $19.10 million to $19.92 million. For the next year, analysts anticipate that the firm will report sales of $27.68 million per share, with estimates ranging from $26.00 million to $30.25 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover BioLife Solutions.

BioLife Solutions (NASDAQ:BLFS) last released its earnings results on Thursday, August 9th. The medical equipment provider reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. BioLife Solutions had a net margin of 1.76% and a return on equity of 2.86%. The firm had revenue of $5.18 million during the quarter, compared to analyst estimates of $5.20 million.

A number of brokerages have recently weighed in on BLFS. Northland Securities reissued a “buy” rating and set a $18.00 price target on shares of BioLife Solutions in a research report on Friday. B. Riley began coverage on shares of BioLife Solutions in a report on Thursday, June 7th. They issued a “buy” rating and a $14.00 price objective for the company. Maxim Group set a $9.00 price objective on shares of BioLife Solutions and gave the stock a “buy” rating in a report on Monday, April 30th. Finally, ValuEngine upgraded shares of BioLife Solutions from a “buy” rating to a “strong-buy” rating in a report on Friday, May 4th.

BLFS traded down $0.14 during trading on Tuesday, reaching $19.72. 304,568 shares of the company’s stock were exchanged, compared to its average volume of 350,231. BioLife Solutions has a fifty-two week low of $3.60 and a fifty-two week high of $22.86. The firm has a market capitalization of $280.93 million, a PE ratio of -93.90 and a beta of 0.64.

In other news, major shareholder Walter Villiger sold 214,286 shares of the stock in a transaction that occurred on Monday, July 9th. The shares were sold at an average price of $11.37, for a total value of $2,436,431.82. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Greef Roderick De sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 18th. The stock was sold at an average price of $20.00, for a total transaction of $200,000.00. Following the completion of the transaction, the chief financial officer now owns 24,583 shares in the company, valued at approximately $491,660. The disclosure for this sale can be found here. Insiders have sold a total of 599,478 shares of company stock valued at $6,925,968 over the last quarter. 38.50% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the company. Essex Investment Management Co. LLC raised its stake in BioLife Solutions by 29.4% during the 2nd quarter. Essex Investment Management Co. LLC now owns 295,728 shares of the medical equipment provider’s stock worth $3,374,000 after acquiring an additional 67,182 shares during the period. Millennium Management LLC boosted its position in BioLife Solutions by 32.3% in the first quarter. Millennium Management LLC now owns 241,470 shares of the medical equipment provider’s stock valued at $1,234,000 after buying an additional 58,920 shares during the last quarter. EAM Investors LLC boosted its position in BioLife Solutions by 93.1% in the second quarter. EAM Investors LLC now owns 182,911 shares of the medical equipment provider’s stock valued at $2,087,000 after buying an additional 88,180 shares during the last quarter. Perkins Capital Management Inc. boosted its position in BioLife Solutions by 473.8% in the second quarter. Perkins Capital Management Inc. now owns 157,800 shares of the medical equipment provider’s stock valued at $1,800,000 after buying an additional 130,300 shares during the last quarter. Finally, EAM Global Investors LLC purchased a new stake in BioLife Solutions in the second quarter valued at approximately $1,294,000. Hedge funds and other institutional investors own 13.39% of the company’s stock.

BioLife Solutions Company Profile

BioLife Solutions, Inc develops, manufactures, and markets patented 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, and delayed-onset cell damage and death.

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