Massachusetts Financial Services Co. MA Buys New Position in BioLife Solutions, Inc. (NASDAQ:BLFS)

Massachusetts Financial Services Co. MA purchased a new position in shares of BioLife Solutions, Inc. (NASDAQ:BLFS - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 762,903 shares of the medical equipment provider's stock, valued at approximately $19,805,000. Massachusetts Financial Services Co. MA owned approximately 1.64% of BioLife Solutions at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in BLFS. State Street Corp boosted its stake in BioLife Solutions by 7.3% during the 3rd quarter. State Street Corp now owns 1,412,316 shares of the medical equipment provider's stock valued at $35,364,000 after acquiring an additional 95,788 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of BioLife Solutions by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 842,771 shares of the medical equipment provider's stock valued at $21,107,000 after purchasing an additional 18,473 shares in the last quarter. Barclays PLC lifted its position in shares of 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. The Manufacturers Life Insurance Company grew its stake in BioLife Solutions by 40.8% in 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 in the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in BioLife Solutions in the fourth quarter worth about $638,000. Institutional investors own 93.24% of the company's stock.

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Insider Buying and Selling at BioLife Solutions

In related news, CMO Todd Berard sold 8,902 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $22.66, for a total value of $201,719.32. Following the sale, the chief marketing officer now directly owns 135,956 shares in the company, valued at $3,080,762.96. This trade represents a 6.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sarah Aebersold sold 2,695 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $25.44, for a total value of $68,560.80. Following the transaction, the insider now owns 43,165 shares of the company's stock, valued at $1,098,117.60. This trade represents a 5.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 72,127 shares of company stock valued at $1,676,533 in the last ninety days. Company insiders own 2.20% of the company's stock.

BioLife Solutions Stock Performance

NASDAQ:BLFS traded up $0.91 during midday trading on Friday, reaching $21.90. 596,266 shares of the company traded hands, compared to its average volume of 373,805. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -20.66 and a beta of 1.93. The company has a fifty day moving average price of $25.04 and a 200 day moving average price of $25.34. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.78 and a quick ratio of 1.78. BioLife Solutions, Inc. has a twelve month low of $14.84 and a twelve month high of $29.55.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last announced its quarterly earnings results on Monday, March 3rd. The medical equipment provider reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.32. BioLife Solutions had a negative net margin of 38.98% and a negative return on equity of 6.61%. The company had revenue of $22.71 million during the quarter, compared to the consensus estimate of $21.73 million. During the same quarter in the previous year, the company posted ($0.21) earnings per share. On average, analysts expect that BioLife Solutions, Inc. will post -0.3 EPS for the current fiscal year.

Analyst Ratings Changes

BLFS has been the topic of several research reports. Northland Securities upped their price objective on BioLife Solutions from $28.00 to $31.00 and gave the company an "outperform" rating in a research note on Wednesday, January 8th. Benchmark reissued a "buy" rating and set a $30.00 price target on shares of BioLife Solutions in a research report on Thursday, December 19th. StockNews.com upgraded BioLife Solutions from a "sell" rating to a "hold" rating in a research note on Tuesday. KeyCorp boosted their target price on shares of BioLife Solutions from $30.00 to $33.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. Finally, HC Wainwright raised their price target on shares of BioLife Solutions from $27.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $31.17.

BioLife Solutions 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.