Northland Capmk Has Strong Estimate for BLFS FY2024 Earnings

BioLife Solutions, Inc. (NASDAQ:BLFS - Free Report) - Northland Capmk upped their FY2024 earnings estimates for BioLife Solutions in a research note issued to investors on Wednesday, November 13th. Northland Capmk analyst C. Byrnes now anticipates that the medical equipment provider will earn ($0.28) per share for the year, up from their previous forecast of ($0.47). The consensus estimate for BioLife Solutions' current full-year earnings is ($0.29) per share. Northland Capmk also issued estimates for BioLife Solutions' Q4 2024 earnings at ($0.01) EPS and FY2025 earnings at ($0.15) EPS.

Several other research firms have also weighed in on BLFS. Craig Hallum lifted their price objective on shares of BioLife Solutions from $30.00 to $32.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. HC Wainwright lowered their price objective on shares of BioLife Solutions from $29.00 to $27.00 and set a "buy" rating on the stock in a report on Monday. TD Cowen lifted their price target on shares of BioLife Solutions from $28.00 to $31.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Finally, Northland Securities upped their price target on shares of BioLife Solutions from $26.00 to $28.00 and gave the stock an "outperform" rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $27.50.

BioLife Solutions Trading Down 2.6 %

NASDAQ BLFS traded down $0.55 during trading hours on Monday, hitting $20.47. The company's stock had a trading volume of 700,551 shares, compared to its average volume of 381,227. The stock has a fifty day moving average of $23.94 and a 200 day moving average of $22.84. BioLife Solutions has a twelve month low of $11.91 and a twelve month high of $28.88. The firm has a market capitalization of $949.60 million, a P/E ratio of -19.31 and a beta of 1.88. The company has a quick ratio of 1.81, a current ratio of 2.78 and a debt-to-equity ratio of 0.03.

Hedge Funds Weigh In On BioLife Solutions

A number of institutional investors have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC acquired a new stake in BioLife Solutions during the 2nd quarter worth approximately $466,000. Vanguard Group Inc. increased its holdings in BioLife Solutions by 11.5% in the first quarter. Vanguard Group Inc. now owns 2,868,335 shares of the medical equipment provider's stock valued at $53,208,000 after purchasing an additional 296,727 shares during the period. Isthmus Partners LLC raised its position in BioLife Solutions by 34.4% during the 2nd quarter. Isthmus Partners LLC now owns 165,247 shares of the medical equipment provider's stock worth $35,000 after purchasing an additional 42,265 shares during the last quarter. Mutual of America Capital Management LLC acquired a new position in BioLife Solutions during the 2nd quarter worth about $8,592,000. Finally, Envestnet Asset Management Inc. lifted its holdings in BioLife Solutions by 261.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 127,215 shares of the medical equipment provider's stock worth $2,726,000 after buying an additional 92,021 shares during the period. 93.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at BioLife Solutions

In related news, CRO Garrie Richardson sold 3,070 shares of BioLife Solutions stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $25.12, for a total value of $77,118.40. Following the transaction, the executive now directly owns 114,773 shares of the company's stock, valued at $2,883,097.76. This trade represents a 2.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Aby J. Mathew sold 10,000 shares of BioLife Solutions stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $23.90, for a total transaction of $239,000.00. Following the completion of the transaction, the executive vice president now directly owns 317,716 shares in the company, valued at $7,593,412.40. This trade represents a 3.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,471 shares of company stock worth $656,330 in the last ninety days. 2.20% of the stock is owned by company insiders.

BioLife Solutions Company 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.