BioLife Solutions, Inc. (NASDAQ:BLFS) Stake Cut by Geneva Capital Management LLC

Geneva Capital Management LLC cut its position in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) by 1.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 852,741 shares of the medical equipment provider’s stock after selling 12,525 shares during the quarter. Geneva Capital Management LLC owned 1.84% of BioLife Solutions worth $22,137,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in BioLife Solutions by 7.3% during the third quarter. State Street Corp now owns 1,412,316 shares of the medical equipment provider’s stock worth $35,364,000 after purchasing an additional 95,788 shares during the last quarter. Geode Capital Management LLC lifted its stake in BioLife Solutions by 2.2% during the third quarter. Geode Capital Management LLC now owns 842,771 shares of the medical equipment provider’s stock worth $21,107,000 after purchasing an additional 18,473 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in BioLife Solutions by 40.8% during the third quarter. The Manufacturers Life Insurance Company now owns 19,463 shares of the medical equipment provider’s stock worth $487,000 after purchasing an additional 5,638 shares during the last quarter. Barclays PLC lifted its stake in BioLife Solutions by 20.1% during the third quarter. Barclays PLC now owns 64,423 shares of the medical equipment provider’s stock worth $1,613,000 after purchasing an additional 10,803 shares during the last quarter. Finally, D.A. Davidson & CO. bought a new position in BioLife Solutions during the third quarter worth $1,018,000. 93.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BLFS. Craig Hallum raised their price objective on BioLife Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. TD Cowen increased their target price on BioLife Solutions from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Northland Securities increased their target price on BioLife Solutions from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 8th. HC Wainwright dropped their target price on BioLife Solutions from $29.00 to $27.00 and set a “buy” rating on the stock in a research report on Monday, November 18th. Finally, KeyCorp increased their target price on BioLife Solutions from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $29.43.

Insider Buying and Selling at BioLife Solutions

In other news, CFO Troy Wichterman sold 987 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $27.02, for a total transaction of $26,668.74. Following the completion of the sale, the chief financial officer now directly owns 121,779 shares of the company’s stock, valued at $3,290,468.58. This represents a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Aby J. Mathew sold 7,604 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $27.33, for a total value of $207,817.32. Following the sale, the executive vice president now directly owns 276,315 shares of the company’s stock, valued at approximately $7,551,688.95. This represents a 2.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 11,978 shares of company stock valued at $322,724. 2.20% of the stock is owned by insiders.

BioLife Solutions Price Performance

Shares of BLFS opened at $26.25 on Thursday. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -24.76 and a beta of 1.91. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.78. BioLife Solutions, Inc. has a one year low of $14.84 and a one year high of $29.55. The stock’s fifty day moving average is $26.67 and its 200-day moving average is $25.48.

BioLife Solutions (NASDAQ:BLFS) last issued its quarterly earnings results on Monday, March 3rd. The medical equipment provider reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.32. The company had revenue of $22.71 million for the quarter, compared to analyst estimates of $21.73 million. BioLife Solutions had a negative return on equity of 6.61% and a negative net margin of 38.98%. During the same period last year, the company earned ($0.21) earnings per share. Equities analysts anticipate that BioLife Solutions, Inc. will post -0.3 EPS for the current year.

BioLife Solutions Company Profile

BioLife Solutions, Inc develops, manufactures, and markets bioproduction tools and services for the cell and gene therapy (CGT) industry in the United States, Europe, the Middle East, Africa, and internationally. The company’s products are used in the basic and applied research, and commercial manufacturing of biologic-based therapies.