BioLife Solutions (NASDAQ:BLFS) Downgraded to Hold at Benchmark

Benchmark lowered shares of BioLife Solutions (NASDAQ:BLFS) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning, BenzingaRatingsTable reports. Benchmark currently has $21.00 price objective on the medical equipment provider’s stock.

A number of other brokerages have also weighed in on BLFS. Oppenheimer restated a buy rating on shares of BioLife Solutions in a research note on Wednesday, May 6th. HC Wainwright reaffirmed a buy rating and set a $17.00 target price on shares of BioLife Solutions in a report on Thursday, June 4th. Zacks Investment Research downgraded BioLife Solutions from a hold rating to a sell rating in a report on Monday, August 3rd. ValuEngine downgraded BioLife Solutions from a buy rating to a hold rating in a report on Wednesday, April 29th. Finally, BidaskClub downgraded BioLife Solutions from a buy rating to a hold rating in a report on Saturday, August 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $22.94.

BLFS stock opened at $18.52 on Tuesday. BioLife Solutions has a 1 year low of $7.37 and a 1 year high of $23.36. The firm has a market cap of $720.74 million, a P/E ratio of -57.88, a price-to-earnings-growth ratio of 28.21 and a beta of 1.54. The stock has a 50-day simple moving average of $19.08 and a 200-day simple moving average of $14.77.

BioLife Solutions (NASDAQ:BLFS) last posted its earnings results on Thursday, May 14th. The medical equipment provider reported $0.06 earnings per share (EPS) for the quarter. BioLife Solutions had a return on equity of 1.74% and a net margin of 42.52%. The business had revenue of $12.16 million during the quarter, compared to analyst estimates of $12.09 million. As a group, research analysts expect that BioLife Solutions will post 0.08 EPS for the current fiscal year.

In other BioLife Solutions news, major shareholder Casdin Partners Master Fund, L bought 476,191 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were purchased at an average price of $16.14 per share, with a total value of $7,685,722.74. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Aby J. Mathew sold 10,000 shares of BioLife Solutions stock in a transaction on Wednesday, July 15th. The shares were sold at an average price of $19.48, for a total value of $194,800.00. Following the sale, the vice president now directly owns 202,915 shares in the company, valued at approximately $3,952,784.20. The disclosure for this sale can be found here. In the last three months, insiders sold 562,504 shares of company stock worth $9,442,242. Company insiders own 22.30% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Sentinel Pension Advisors Inc. bought a new stake in BioLife Solutions during the 1st quarter valued at $10,450,000. Park West Asset Management LLC increased its position in shares of BioLife Solutions by 12.5% during the 1st quarter. Park West Asset Management LLC now owns 979,406 shares of the medical equipment provider’s stock valued at $9,304,000 after purchasing an additional 108,495 shares during the period. Russell Investments Group Ltd. increased its position in shares of BioLife Solutions by 60.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 674,172 shares of the medical equipment provider’s stock valued at $11,006,000 after purchasing an additional 255,139 shares during the period. BlackRock Inc. increased its position in shares of BioLife Solutions by 7.2% during the 1st quarter. BlackRock Inc. now owns 595,328 shares of the medical equipment provider’s stock valued at $5,656,000 after purchasing an additional 39,861 shares during the period. Finally, Tarsadia Capital LLC acquired a new position in shares of BioLife Solutions during the 1st quarter valued at $4,536,000. 46.95% of the stock is currently owned by hedge funds and other institutional investors.

About BioLife Solutions

BioLife Solutions, Inc develops, manufactures, and markets grade cell and tissue hypothermic storage and cryopreservation freeze media products for cells, tissues, and organs in the United States. Its products are serum-free and protein-free solutions, which are formulated to reduce preservation-induced cell damage and death.

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