Strait & Sound Wealth Management LLC Purchases New Holdings in BioLife Solutions, Inc. $BLFS

Strait & Sound Wealth Management LLC bought a new stake in BioLife Solutions, Inc. (NASDAQ:BLFS) in the second quarter, Holdings Channel reports. The institutional investor bought 14,228 shares of the medical equipment provider’s stock, valued at approximately $95,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. boosted its holdings in shares of BioLife Solutions by 27.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,180,824 shares of the medical equipment provider’s stock worth $125,273,000 after acquiring an additional 1,113,972 shares in the last quarter. Invesco Ltd. raised its position in BioLife Solutions by 9.2% in the 4th quarter. Invesco Ltd. now owns 3,932,191 shares of the medical equipment provider’s stock valued at $95,080,000 after purchasing an additional 332,747 shares during the last quarter. Vanguard Group Inc. boosted its stake in BioLife Solutions by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 3,087,386 shares of the medical equipment provider’s stock worth $74,653,000 after purchasing an additional 119,868 shares in the last quarter. State Street Corp boosted its stake in BioLife Solutions by 3.4% in the fourth quarter. State Street Corp now owns 1,505,593 shares of the medical equipment provider’s stock worth $36,405,000 after purchasing an additional 49,028 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of BioLife Solutions by 11.3% during the second quarter. Ameriprise Financial Inc. now owns 1,080,371 shares of the medical equipment provider’s stock worth $23,271,000 after purchasing an additional 109,959 shares during the last quarter. Institutional investors own 93.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Lake Street Capital lowered shares of BioLife Solutions from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $33.00 to $31.00 in a report on Wednesday, July 22nd. Maxim Group downgraded shares of BioLife Solutions from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Zacks Research upgraded shares of BioLife Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. Stephens reissued an “equal weight” rating and set a $31.00 price target (down from $32.00) on shares of BioLife Solutions in a research note on Monday, July 27th. Finally, Jefferies Financial Group lowered shares of BioLife Solutions from a “buy” rating to a “hold” rating and raised their price target for the company from $30.00 to $31.00 in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $31.38.

BioLife Solutions Stock Down 2.2%

BioLife Solutions stock opened at $36.38 on Friday. The business’s 50-day simple moving average is $31.43 and its 200 day simple moving average is $25.37. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 31.36 and a beta of 1.93. BioLife Solutions, Inc. has a 12-month low of $17.86 and a 12-month high of $38.10.

BioLife Solutions (NASDAQ:BLFS) last announced its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.88. BioLife Solutions had a return on equity of 2.70% and a net margin of 53.29%.The firm had revenue of $28.47 million during the quarter, compared to analysts’ expectations of $27.80 million. As a group, sell-side analysts expect that BioLife Solutions, Inc. will post 0.03 EPS for the current year.

BioLife Solutions Company Profile

BioLife Solutions (NASDAQ:BLFS) specializes in biopreservation and cold chain workflow solutions for cell and gene therapies, regenerative medicine and other advanced biologics. The company develops and markets proprietary cryopreservation media and technology platforms designed to maintain cell viability and functionality during processing, storage and transport. BioLife’s product portfolio addresses critical steps in the manufacturing and distribution of cell-based products, helping life science researchers and biopharmaceutical manufacturers protect and preserve living cells.

The company’s flagship offerings include CryoStor, a family of serum-free cryopreservation media; HypoThermosol, a hypothermic storage solution for short-term cell and tissue preservation; and the ThawSTAR system, an automated cell thawing instrument that delivers controlled and reproducible warming of frozen cell therapies.