BioLife Solutions (NASDAQ:BLFS) Releases Earnings Results, Misses Estimates By $0.06 EPS

BioLife Solutions (NASDAQ:BLFS – Get Rating) posted its quarterly earnings data on Monday. The medical equipment provider reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.06), Fidelity Earnings reports. BioLife Solutions had a negative net margin of 7.04% and a negative return on equity of 5.19%. During the same period in the previous year, the firm posted $0.01 EPS. BioLife Solutions updated its FY 2022 guidance to EPS.

BLFS traded up $0.85 on Tuesday, reaching $11.75. 56,481 shares of the stock were exchanged, compared to its average volume of 394,142. The firm’s 50-day moving average is $19.38. BioLife Solutions has a fifty-two week low of $10.74 and a fifty-two week high of $60.67. The company has a quick ratio of 2.41, a current ratio of 3.12 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $494.62 million, a price-to-earnings ratio of -55.19 and a beta of 2.01.

A number of analysts have commented on BLFS shares. Zacks Investment Research upgraded BioLife Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 3rd. TheStreet cut BioLife Solutions from a “c-” rating to a “d” rating in a research report on Tuesday, April 12th. Cowen dropped their price target on BioLife Solutions from $50.00 to $32.00 in a research note on Tuesday. Cowen dropped their price target on BioLife Solutions from $50.00 to $32.00 in a research note on Tuesday. Finally, StockNews.com raised BioLife Solutions to a “sell” rating in a research note on Friday, March 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, BioLife Solutions currently has an average rating of “Buy” and an average price target of $50.14.

In related news, CEO Michael Rice sold 10,000 shares of BioLife Solutions stock in a transaction dated Wednesday, March 9th. The stock was sold at an average price of $23.81, for a total value of $238,100.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Aby J. Mathew sold 19,325 shares of the business’s stock in a transaction that occurred on Monday, April 18th. The stock was sold at an average price of $17.59, for a total value of $339,926.75. Following the sale, the executive vice president now owns 251,924 shares of the company’s stock, valued at $4,431,343.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 151,420 shares of company stock valued at $2,919,249. 5.90% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of the business. Center for Financial Planning Inc. acquired a new position in shares of BioLife Solutions during the 3rd quarter worth approximately $57,000. Royal Bank of Canada lifted its holdings in BioLife Solutions by 113.8% in the second quarter. Royal Bank of Canada now owns 1,672 shares of the medical equipment provider’s stock valued at $74,000 after acquiring an additional 890 shares during the last quarter. LPL Financial LLC acquired a new position in BioLife Solutions in the third quarter valued at approximately $212,000. UBS Group AG lifted its holdings in BioLife Solutions by 199.9% in the third quarter. UBS Group AG now owns 13,710 shares of the medical equipment provider’s stock valued at $580,000 after acquiring an additional 9,139 shares during the last quarter. Finally, Citigroup Inc. lifted its holdings in BioLife Solutions by 20.8% in the fourth quarter. Citigroup Inc. now owns 17,987 shares of the medical equipment provider’s stock valued at $670,000 after acquiring an additional 3,098 shares during the last quarter. Institutional investors own 83.48% of the company’s stock.

BioLife Solutions Company Profile (Get Rating)

BioLife Solutions, Inc develops, manufactures, and supplies bioproduction tools and services for the cell and gene therapy industry in the United States, Canada, 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.

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