BioLife Solutions (NASDAQ:BLFS) Stock Rating Lowered by Zacks Research

BioLife Solutions (NASDAQ:BLFS) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday, Zacks reports.

A number of other equities research analysts also recently commented on the company. Stephens reaffirmed an “equal weight” rating and set a $31.00 target price (down from $32.00) on shares of BioLife Solutions in a report on Monday, July 27th. Maxim Group downgraded shares of BioLife Solutions from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Wall Street Zen cut shares of BioLife Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. William Blair set a $31.00 price objective on shares of BioLife Solutions in a report on Thursday, July 23rd. Finally, Lake Street Capital lowered shares of BioLife Solutions from a “buy” rating to a “hold” rating and cut their price objective for the stock from $33.00 to $31.00 in a research note on Wednesday, July 22nd. One investment analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, BioLife Solutions currently has an average rating of “Hold” and a consensus target price of $31.38.

BioLife Solutions Stock Up 2.4%

Shares of BLFS opened at $38.07 on Monday. The business has a 50-day simple moving average of $34.28 and a two-hundred day simple moving average of $27.01. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 32.82 and a beta of 1.91. BioLife Solutions has a 52 week low of $17.86 and a 52 week high of $38.28.

BioLife Solutions (NASDAQ:BLFS) last posted its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.88. The firm had revenue of $28.47 million for the quarter, compared to analysts’ expectations of $27.80 million. BioLife Solutions had a return on equity of 2.70% and a net margin of 53.29%. On average, equities analysts anticipate that BioLife Solutions will post 0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BioLife Solutions

A number of large investors have recently made changes to their positions in the business. Hantz Financial Services Inc. raised its holdings in shares of BioLife Solutions by 42.4% in the 4th quarter. Hantz Financial Services Inc. now owns 2,673 shares of the medical equipment provider’s stock valued at $65,000 after purchasing an additional 796 shares in the last quarter. State of Wyoming purchased a new position in BioLife Solutions during the first quarter worth about $52,000. WINTON GROUP Ltd acquired a new position in shares of BioLife Solutions during the 2nd quarter worth $201,000. AXQ Capital LP acquired a new stake in BioLife Solutions in the second quarter valued at $203,000. Finally, GAMMA Investing LLC raised its position in BioLife Solutions by 36.6% during the second quarter. GAMMA Investing LLC now owns 8,996 shares of the medical equipment provider’s stock worth $254,000 after acquiring an additional 2,410 shares during the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.

BioLife Solutions Company Profile

BioLife Solutions, Inc develops and supplies tools and services used in the development, manufacture, preservation and distribution of cell and gene therapies. Its products are designed to help maintain the viability and functionality of cells, tissues and other biological materials during processing, freezing, storage and transportation.

The company’s portfolio includes cell and tissue preservation media, thawing and processing solutions, cryogenic storage systems, controlled-rate freezing equipment and related bioproduction technologies.