Analysts expect that BioLife Solutions Inc (NASDAQ:BLFS) will report $10.86 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for BioLife Solutions’ earnings, with the highest sales estimate coming in at $12.50 million and the lowest estimate coming in at $9.70 million. BioLife Solutions reported sales of $6.60 million in the same quarter last year, which indicates a positive year over year growth rate of 64.5%. The company is scheduled to announce its next earnings report on Tuesday, November 10th.
On average, analysts expect that BioLife Solutions will report full-year sales of $45.34 million for the current financial year, with estimates ranging from $43.08 million to $48.58 million. For the next year, analysts expect that the firm will post sales of $63.89 million, with estimates ranging from $57.72 million to $68.95 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover BioLife Solutions.
BioLife Solutions (NASDAQ:BLFS) last posted its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported ($0.01) earnings per share for the quarter. The firm had revenue of $9.92 million during the quarter, compared to analysts’ expectations of $9.68 million. BioLife Solutions had a return on equity of 1.49% and a net margin of 42.52%.
BLFS has been the topic of a number of research reports. BidaskClub raised shares of BioLife Solutions from a “hold” rating to a “buy” rating in a research report on Wednesday, August 26th. B. Riley raised their target price on shares of BioLife Solutions from $20.00 to $25.50 and gave the stock a “buy” rating in a research report on Friday, July 10th. Stephens raised their target price on shares of BioLife Solutions from $23.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. Zacks Investment Research lowered shares of BioLife Solutions from a “hold” rating to a “sell” rating in a research report on Monday, August 3rd. Finally, Northland Securities reissued a “buy” rating and set a $28.00 price objective on shares of BioLife Solutions in a report on Friday, August 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $22.94.
Shares of NASDAQ:BLFS traded down $0.28 during trading on Tuesday, reaching $22.12. 271,626 shares of the company were exchanged, compared to its average volume of 291,198. The firm has a market capitalization of $707.88 million, a PE ratio of -69.13, a P/E/G ratio of 73.73 and a beta of 1.70. The business’s fifty day simple moving average is $20.27 and its 200-day simple moving average is $15.42. BioLife Solutions has a 12-month low of $7.37 and a 12-month high of $23.74.
In other BioLife Solutions news, CEO Michael Rice sold 18,750 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $15.01, for a total value of $281,437.50. Following the completion of the sale, the chief executive officer now directly owns 232,973 shares in the company, valued at $3,496,924.73. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Thomas Girschweiler sold 305,583 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $14.50, for a total transaction of $4,430,953.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 591,049 shares of company stock valued at $10,045,338. 22.30% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of the company. Victory Capital Management Inc. lifted its stake in shares of BioLife Solutions by 31.6% during the first quarter. Victory Capital Management Inc. now owns 6,128 shares of the medical equipment provider’s stock worth $58,000 after buying an additional 1,470 shares during the period. Citigroup Inc. lifted its stake in shares of BioLife Solutions by 111.7% during the first quarter. Citigroup Inc. now owns 3,292 shares of the medical equipment provider’s stock worth $31,000 after buying an additional 1,737 shares during the period. Bleichroeder LP acquired a new stake in shares of BioLife Solutions during the first quarter worth $212,000. Bank of Montreal Can lifted its stake in shares of BioLife Solutions by 5.2% during the second quarter. Bank of Montreal Can now owns 66,805 shares of the medical equipment provider’s stock worth $1,196,000 after buying an additional 3,308 shares during the period. Finally, UBS Group AG lifted its stake in shares of BioLife Solutions by 27.4% during the first quarter. UBS Group AG now owns 15,839 shares of the medical equipment provider’s stock worth $151,000 after buying an additional 3,406 shares during the period. Institutional investors and hedge funds own 46.90% 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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