BioLife Solutions (NASDAQ:BLFS) Downgraded to “Hold” at Zacks Investment Research

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Zacks Investment Research downgraded shares of BioLife Solutions (NASDAQ:BLFS) from a buy rating to a hold rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “BioLife Solutions has pioneered the next generation of preservation solutions designed to maintain the viability and health of cellular matter and tissues during freezing, transportation and storage. Based on their proprietary bio-packaging technology and a patented understanding of the mechanism of cellular damage and death, these products enable the biotechnology and medical community to address a growing problem that exists today. “

A number of other equities research analysts have also weighed in on the stock. Maxim Group set a $24.00 target price on shares of BioLife Solutions and gave the stock a buy rating in a report on Wednesday, May 22nd. ValuEngine upgraded shares of XCel Brands from a sell rating to a hold rating in a research note on Tuesday, July 9th. Northland Securities increased their price objective on shares of Paycom Software from $215.00 to $275.00 and gave the company an outperform rating in a research note on Tuesday, July 9th. Finally, BidaskClub upgraded shares of Xilinx from a hold rating to a buy rating in a research note on Saturday, June 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $17.80.

BLFS opened at $16.93 on Wednesday. The company has a quick ratio of 12.99, a current ratio of 14.50 and a debt-to-equity ratio of 0.02. BioLife Solutions has a fifty-two week low of $9.15 and a fifty-two week high of $26.35. The firm has a market cap of $318.27 million, a price-to-earnings ratio of 120.93 and a beta of 1.31. The stock has a 50-day simple moving average of $17.22.

BioLife Solutions (NASDAQ:BLFS) last posted its earnings results on Thursday, May 9th. The medical equipment provider reported $0.03 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.03. BioLife Solutions had a net margin of 17.01% and a return on equity of 10.32%. The company had revenue of $5.77 million for the quarter, compared to analyst estimates of $5.67 million. Sell-side analysts predict that BioLife Solutions will post 0.12 earnings per share for the current fiscal year.

In other BioLife Solutions news, CFO Greef Roderick De sold 10,000 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $16.09, for a total value of $160,900.00. Following the completion of the sale, the chief financial officer now owns 35,859 shares in the company, valued at approximately $576,971.31. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Walter Villiger sold 39,883 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $19.18, for a total transaction of $764,955.94. The disclosure for this sale can be found here. In the last quarter, insiders sold 216,871 shares of company stock valued at $3,826,019. Company insiders own 27.00% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Cowen Prime Services LLC bought a new position in shares of BioLife Solutions during the 1st quarter valued at approximately $63,000. Signaturefd LLC bought a new position in shares of BioLife Solutions during the 1st quarter valued at approximately $161,000. Conestoga Capital Advisors LLC bought a new position in shares of BioLife Solutions during the 1st quarter valued at approximately $238,000. Spears Abacus Advisors LLC bought a new position in shares of BioLife Solutions during the 1st quarter valued at approximately $243,000. Finally, GSA Capital Partners LLP grew its position in shares of BioLife Solutions by 21.1% during the 4th quarter. GSA Capital Partners LLP now owns 13,800 shares of the medical equipment provider’s stock valued at $166,000 after acquiring an additional 2,400 shares during the period. Hedge funds and other institutional investors own 45.76% 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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