William Blair Investment Management LLC Sells 239,100 Shares of BioLife Solutions, Inc. (NASDAQ:BLFS)

William Blair Investment Management LLC lessened its stake in shares of BioLife Solutions, Inc. (NASDAQ:BLFS - Free Report) by 20.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 910,348 shares of the medical equipment provider's stock after selling 239,100 shares during the quarter. William Blair Investment Management LLC owned about 1.96% of BioLife Solutions worth $23,633,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in BLFS. Steward Partners Investment Advisory LLC acquired a new position in shares of BioLife Solutions during the fourth quarter valued at approximately $26,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of BioLife Solutions during the third quarter valued at approximately $28,000. Quest Partners LLC acquired a new position in shares of BioLife Solutions during the third quarter valued at approximately $57,000. Smartleaf Asset Management LLC increased its stake in shares of BioLife Solutions by 27.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,469 shares of the medical equipment provider's stock valued at $117,000 after acquiring an additional 950 shares during the period. Finally, Intech Investment Management LLC acquired a new position in shares of BioLife Solutions during the third quarter valued at approximately $255,000. Institutional investors and hedge funds own 93.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BLFS. Northland Securities raised their target price on shares of BioLife Solutions from $28.00 to $31.00 and gave the stock an "outperform" rating in a report on Wednesday, January 8th. Benchmark restated a "buy" rating and set a $30.00 target price on shares of BioLife Solutions in a report on Thursday, December 19th. HC Wainwright raised their target price on shares of BioLife Solutions from $27.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. KeyCorp raised their target price on shares of BioLife Solutions from $30.00 to $33.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. Finally, StockNews.com upgraded shares of BioLife Solutions from a "sell" rating to a "hold" rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $29.86.

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BioLife Solutions Trading Down 0.3 %

BioLife Solutions stock traded down $0.07 during midday trading on Friday, reaching $24.99. The stock had a trading volume of 569,608 shares, compared to its average volume of 350,123. The firm's fifty day simple moving average is $26.40 and its two-hundred day simple moving average is $25.48. BioLife Solutions, Inc. has a twelve month low of $14.84 and a twelve month high of $29.55. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.78 and a quick ratio of 1.78. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -23.58 and a beta of 2.04.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last issued its earnings results on Monday, March 3rd. The medical equipment provider reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.32. The company had revenue of $22.71 million during the quarter, compared to analyst estimates 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 quarter last year, the business posted ($0.21) EPS. Equities analysts anticipate that BioLife Solutions, Inc. will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling at BioLife Solutions

In other BioLife Solutions 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 transaction 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 $3,290,468.58. This trade represents a 0.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CMO Todd Berard sold 1,577 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $25.00, for a total transaction of $39,425.00. Following the transaction, the chief marketing officer now owns 104,961 shares in the company, valued at $2,624,025. This represents a 1.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,117 shares of company stock valued at $534,442 in the last quarter. Company insiders own 2.20% of the company's stock.

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.