BioLife Solutions, Inc. (NASDAQ:BLFS) Expected to Earn Q2 2022 Earnings of $0.01 Per Share

BioLife Solutions, Inc. (NASDAQ:BLFSGet Rating) – Analysts at KeyCorp lifted their Q2 2022 earnings estimates for BioLife Solutions in a research report issued to clients and investors on Monday, May 9th. KeyCorp analyst P. Knight now expects that the medical equipment provider will earn $0.01 per share for the quarter, up from their previous estimate of ($0.09). KeyCorp also issued estimates for BioLife Solutions’ Q3 2022 earnings at $0.03 EPS, Q4 2022 earnings at $0.05 EPS and FY2022 earnings at ($0.09) EPS.

BioLife Solutions (NASDAQ:BLFSGet Rating) last posted its quarterly earnings data on Monday, May 9th. The medical equipment provider reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.06). BioLife Solutions had a negative return on equity of 5.19% and a negative net margin of 7.04%. During the same period in the previous year, the firm posted $0.01 EPS.

Other analysts have also recently issued research reports about the company. Zacks Investment Research upgraded BioLife Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 3rd. Cowen lowered their price target on BioLife Solutions from $50.00 to $32.00 in a report on Tuesday. B. Riley lowered their price target on BioLife Solutions from $67.00 to $48.00 in a report on Wednesday, March 2nd. TheStreet cut BioLife Solutions from a “c-” rating to a “d” rating in a report on Tuesday, April 12th. Finally, Oppenheimer upgraded BioLife Solutions from a “market perform” rating to an “outperform” rating in a report on Monday, April 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $50.14.

BioLife Solutions stock opened at $10.54 on Thursday. The stock has a market cap of $443.68 million, a PE ratio of -50.19 and a beta of 2.01. The stock has a 50-day moving average price of $18.85 and a 200 day moving average price of $29.82. BioLife Solutions has a 52 week low of $10.51 and a 52 week high of $60.67. The company has a current ratio of 3.12, a quick ratio of 2.41 and a debt-to-equity ratio of 0.01.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System boosted its holdings in BioLife Solutions by 5.7% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 6,262 shares of the medical equipment provider’s stock worth $265,000 after acquiring an additional 340 shares during the period. Royal Bank of Canada boosted its holdings in BioLife Solutions by 22.2% in the 3rd quarter. Royal Bank of Canada now owns 2,044 shares of the medical equipment provider’s stock worth $87,000 after acquiring an additional 372 shares during the period. Spears Abacus Advisors LLC boosted its holdings in BioLife Solutions by 2.7% in the 4th quarter. Spears Abacus Advisors LLC now owns 23,143 shares of the medical equipment provider’s stock worth $863,000 after acquiring an additional 614 shares during the period. Glenmede Trust Co. NA boosted its holdings in BioLife Solutions by 3.6% in the 4th quarter. Glenmede Trust Co. NA now owns 25,403 shares of the medical equipment provider’s stock worth $946,000 after acquiring an additional 888 shares during the period. Finally, Public Sector Pension Investment Board boosted its holdings in BioLife Solutions by 1.6% in the 4th quarter. Public Sector Pension Investment Board now owns 59,690 shares of the medical equipment provider’s stock worth $2,225,000 after acquiring an additional 920 shares during the period. Hedge funds and other institutional investors own 83.48% of the company’s stock.

In other news, CMO Todd Berard sold 13,581 shares of the business’s stock in a transaction dated Monday, April 18th. The stock was sold at an average price of $17.59, for a total transaction of $238,889.79. Following the completion of the sale, the chief marketing officer now owns 108,992 shares in the company, valued at approximately $1,917,169.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Rice sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 7th. The stock was sold at an average price of $23.80, for a total value of $238,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 149,369 shares of company stock valued at $2,858,991 in the last quarter. Company insiders own 5.90% 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.

Further Reading

Earnings History and Estimates for BioLife Solutions (NASDAQ:BLFS)

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