Victory Capital Management Inc. Boosts Holdings in BioLife Solutions, Inc. (NASDAQ:BLFS)

Victory Capital Management Inc. boosted its position in BioLife Solutions, Inc. (NASDAQ:BLFS - Free Report) by 422.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 218,962 shares of the medical equipment provider's stock after acquiring an additional 177,028 shares during the quarter. Victory Capital Management Inc. owned 0.47% of BioLife Solutions worth $5,684,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC bought a new position in shares of BioLife Solutions in the fourth quarter worth about $26,000. Mark Sheptoff Financial Planning LLC bought a new position in BioLife Solutions in the 3rd quarter valued at approximately $28,000. Quest Partners LLC bought a new position in BioLife Solutions in the 3rd quarter valued at approximately $57,000. Smartleaf Asset Management LLC boosted its position in BioLife Solutions by 27.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,469 shares of the medical equipment provider's stock valued at $117,000 after buying an additional 950 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of BioLife Solutions during the third quarter worth $255,000. 93.24% of the stock is currently owned by institutional investors and hedge funds.

BioLife Solutions Trading Up 2.5 %

BLFS stock traded up $0.64 during trading on Wednesday, hitting $25.97. The company had a trading volume of 141,861 shares, compared to its average volume of 348,335. The stock has a market cap of $1.22 billion, a PE ratio of -24.58 and a beta of 2.04. The business has a 50-day moving average of $26.53 and a 200-day moving average of $25.49. The company has a current ratio of 2.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. BioLife Solutions, Inc. has a one year low of $14.84 and a one year high of $29.55.

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

Insider Activity

In related news, CFO Troy Wichterman sold 987 shares of BioLife Solutions stock in a transaction on Monday, January 6th. The shares were sold at an average price of $27.02, for a total value of $26,668.74. Following the completion of the sale, the chief financial officer now owns 121,779 shares of the company's stock, valued at approximately $3,290,468.58. This trade represents a 0.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CMO Todd Berard sold 1,577 shares of the firm's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $25.00, for a total transaction of $39,425.00. Following the completion of the transaction, the chief marketing officer now directly owns 104,961 shares in the company, valued at approximately $2,624,025. The trade was a 1.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,117 shares of company stock valued at $534,442 in the last ninety days. 2.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on BLFS shares. KeyCorp increased their price target on BioLife Solutions from $30.00 to $33.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. HC Wainwright lifted their price target on BioLife Solutions from $27.00 to $30.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Benchmark restated a "buy" rating and set a $30.00 price target on shares of BioLife Solutions in a report on Thursday, December 19th. Finally, Northland Securities raised their price objective on shares of BioLife Solutions from $28.00 to $31.00 and gave the company an "outperform" rating in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. Based on data from MarketBeat, BioLife Solutions presently has an average rating of "Moderate Buy" and an average price target of $29.86.

About BioLife Solutions

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.