BioLife Solutions (NASDAQ:BLFS) posted its earnings results on Thursday. The medical equipment provider reported $0.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.01, Morningstar.com reports. The business had revenue of $5.29 million for the quarter, compared to analysts’ expectations of $5.19 million. BioLife Solutions had a net margin of 1.76% and a return on equity of 2.24%.

Shares of NASDAQ:BLFS traded up $1.66 during trading on Friday, hitting $13.94. The company’s stock had a trading volume of 427,309 shares, compared to its average volume of 138,147. BioLife Solutions has a 12 month low of $4.63 and a 12 month high of $26.35. The stock has a market capitalization of $199.52 million, a PE ratio of -66.38 and a beta of 1.46.

Several equities analysts have issued reports on the stock. B. Riley set a $23.00 target price on shares of BioLife Solutions and gave the company a “buy” rating in a research note on Tuesday, August 14th. Maxim Group restated a “buy” rating and set a $26.00 target price on shares of BioLife Solutions in a research note on Wednesday, September 5th. Northland Securities restated a “buy” rating and set a $18.00 target price on shares of BioLife Solutions in a research note on Friday, August 10th. TheStreet upgraded shares of BioLife Solutions from a “d” rating to a “c-” rating in a research note on Tuesday, September 11th. Finally, BidaskClub cut shares of BioLife Solutions from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 7th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. BioLife Solutions currently has an average rating of “Buy” and a consensus target price of $22.00.

In other news, CEO Michael Rice sold 12,540 shares of the stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $19.50, for a total value of $244,530.00. Following the transaction, the chief executive officer now owns 152,057 shares in the company, valued at approximately $2,965,111.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Todd Berard sold 3,000 shares of the stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $17.23, for a total transaction of $51,690.00. Following the completion of the transaction, the vice president now owns 37,583 shares in the company, valued at approximately $647,555.09. The disclosure for this sale can be found here. Insiders sold a total of 95,385 shares of company stock worth $1,836,984 in the last quarter. Company insiders own 38.50% of the company’s stock.

Several large investors have recently modified their holdings of BLFS. Millennium Management LLC increased its holdings in BioLife Solutions by 32.3% in the 1st quarter. Millennium Management LLC now owns 241,470 shares of the medical equipment provider’s stock worth $1,234,000 after acquiring an additional 58,920 shares in the last quarter. Bank of Montreal Can purchased a new stake in BioLife Solutions in the 2nd quarter worth approximately $114,000. Essex Investment Management Co. LLC increased its holdings in BioLife Solutions by 29.4% in 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 in the last quarter. Acadian Asset Management LLC purchased a new stake in BioLife Solutions in the 2nd quarter worth approximately $569,000. Finally, BNP Paribas Arbitrage SA purchased a new stake in BioLife Solutions in the 2nd quarter worth approximately $799,000. Hedge funds and other institutional investors own 27.51% of the company’s stock.

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About BioLife Solutions

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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Earnings History for BioLife Solutions (NASDAQ:BLFS)

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