Brokerages Anticipate BioLife Solutions Inc (NASDAQ:BLFS) Will Post Quarterly Sales of $8.52 Million

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Equities analysts expect BioLife Solutions Inc (NASDAQ:BLFS) to announce sales of $8.52 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for BioLife Solutions’ earnings, with the lowest sales estimate coming in at $8.18 million and the highest estimate coming in at $8.80 million. BioLife Solutions posted sales of $5.46 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 56%. The business is expected to announce its next earnings report on Thursday, March 12th.

According to Zacks, analysts expect that BioLife Solutions will report full-year sales of $27.69 million for the current fiscal year, with estimates ranging from $27.50 million to $27.87 million. For the next fiscal year, analysts anticipate that the business will report sales of $51.17 million, with estimates ranging from $50.83 million to $51.50 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow BioLife Solutions.

Several equities research analysts have recently commented on the company. Zacks Investment Research lowered BioLife Solutions from a “buy” rating to a “hold” rating in a research note on Monday, November 25th. BidaskClub upgraded BioLife Solutions from a “hold” rating to a “buy” rating in a research note on Monday, November 25th. Northland Securities increased their price target on BioLife Solutions from $18.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. ValuEngine upgraded BioLife Solutions from a “sell” rating to a “hold” rating in a research note on Saturday, November 23rd. Finally, Oppenheimer initiated coverage on BioLife Solutions in a research note on Wednesday, November 20th. They issued an “outperform” rating and a $22.00 price target for the company. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $19.00.

NASDAQ:BLFS opened at $16.75 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.49 and a quick ratio of 5.33. The firm has a market capitalization of $336.23 million, a price-to-earnings ratio of 119.64, a price-to-earnings-growth ratio of 20.55 and a beta of 1.35. BioLife Solutions has a one year low of $9.15 and a one year high of $22.44. The business has a fifty day moving average price of $16.46 and a 200-day moving average price of $17.67.

In other BioLife Solutions news, Director Andrew G. Hinson sold 6,000 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $16.01, for a total value of $96,060.00. Following the completion of the sale, the director now owns 9,747 shares in the company, valued at approximately $156,049.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP James Mathers sold 2,500 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $16.33, for a total value of $40,825.00. Following the completion of the sale, the vice president now owns 19,884 shares of the company’s stock, valued at approximately $324,705.72. The disclosure for this sale can be found here. Insiders sold a total of 184,794 shares of company stock valued at $3,387,192 in the last quarter. 27.00% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. Granahan Investment Management Inc. MA increased its stake in BioLife Solutions by 113.5% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 270,085 shares of the medical equipment provider’s stock worth $4,490,000 after buying an additional 143,595 shares in the last quarter. State Street Corp grew its position in shares of BioLife Solutions by 15.9% during the third quarter. State Street Corp now owns 130,210 shares of the medical equipment provider’s stock valued at $2,165,000 after purchasing an additional 17,861 shares in the last quarter. Alpine Woods Capital Investors LLC grew its position in shares of BioLife Solutions by 9.0% during the third quarter. Alpine Woods Capital Investors LLC now owns 10,900 shares of the medical equipment provider’s stock valued at $181,000 after purchasing an additional 900 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of BioLife Solutions by 94.8% during the third quarter. Russell Investments Group Ltd. now owns 582,843 shares of the medical equipment provider’s stock valued at $9,685,000 after purchasing an additional 283,603 shares in the last quarter. Finally, Perkins Capital Management Inc. grew its position in shares of BioLife Solutions by 110.9% during the third quarter. Perkins Capital Management Inc. now owns 111,250 shares of the medical equipment provider’s stock valued at $1,850,000 after purchasing an additional 58,500 shares in the last quarter. Institutional investors and hedge funds own 50.22% of the company’s stock.

About BioLife Solutions

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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