TimesSquare Capital Management LLC cut its stake in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) by 5.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 487,800 shares of the medical equipment provider’s stock after selling 28,300 shares during the quarter. TimesSquare Capital Management LLC owned 1.45% of BioLife Solutions worth $17,561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in BioLife Solutions by 6.5% in the 1st quarter. BlackRock Inc. now owns 1,312,818 shares of the medical equipment provider’s stock worth $47,262,000 after buying an additional 80,147 shares during the period. Geneva Capital Management LLC bought a new position in shares of BioLife Solutions in the 1st quarter worth approximately $37,191,000. Tower House Partners LLP bought a new position in BioLife Solutions during the 4th quarter valued at approximately $18,872,000. Jennison Associates LLC bought a new position in BioLife Solutions during the 4th quarter valued at approximately $17,934,000. Finally, Northern Trust Corp increased its position in BioLife Solutions by 0.4% during the 4th quarter. Northern Trust Corp now owns 260,536 shares of the medical equipment provider’s stock valued at $10,392,000 after buying an additional 1,121 shares in the last quarter. Institutional investors own 63.35% of the company’s stock.
A number of research analysts recently weighed in on BLFS shares. TheStreet lowered BioLife Solutions from a “c-” rating to a “d+” rating in a research report on Friday, May 7th. B. Riley raised their price objective on BioLife Solutions from $35.50 to $61.00 in a research report on Wednesday, March 24th. Stephens lifted their target price on BioLife Solutions from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, March 23rd. Benchmark reissued a “hold” rating on shares of BioLife Solutions in a report on Thursday, May 20th. Finally, KeyCorp lifted their target price on BioLife Solutions from $40.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, March 23rd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $48.22.
BioLife Solutions (NASDAQ:BLFS) last released its quarterly earnings results on Wednesday, May 12th. The medical equipment provider reported ($0.03) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.02). The firm had revenue of $16.85 million during the quarter, compared to analysts’ expectations of $15.60 million. BioLife Solutions had a negative return on equity of 0.35% and a negative net margin of 39.34%. Research analysts forecast that BioLife Solutions, Inc. will post 0.12 earnings per share for the current year.
In related news, CEO Michael Rice sold 11,461 shares of BioLife Solutions stock in a transaction on Thursday, June 10th. The stock was sold at an average price of $36.47, for a total transaction of $417,982.67. Following the transaction, the chief executive officer now directly owns 281,673 shares in the company, valued at $10,272,614.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Todd Berard sold 6,160 shares of BioLife Solutions stock in a transaction on Tuesday, March 16th. The shares were sold at an average price of $36.72, for a total value of $226,195.20. Following the transaction, the chief marketing officer now owns 81,030 shares in the company, valued at $2,975,421.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 260,428 shares of company stock worth $8,877,943. Company insiders own 5.90% of the company’s stock.
BioLife Solutions Profile
BioLife Solutions, Inc develops, manufactures, and supplies bioproduction tools and services for the cell and gene therapy industry in the United States, Canada, 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.
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