$6.75 Million in Sales Expected for BioLife Solutions Inc (BLFS) This Quarter

Wall Street brokerages predict that BioLife Solutions Inc (NASDAQ:BLFS) will report sales of $6.75 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for BioLife Solutions’ earnings. The highest sales estimate is $6.99 million and the lowest is $6.50 million. BioLife Solutions posted sales of $5.18 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 30.3%. The business is expected to report its next earnings report on Thursday, August 8th.

According to Zacks, analysts expect that BioLife Solutions will report full year sales of $28.33 million for the current fiscal year, with estimates ranging from $28.00 million to $28.65 million. For the next fiscal year, analysts anticipate that the firm will post sales of $38.27 million, with estimates ranging from $35.00 million to $41.54 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover BioLife Solutions.

BioLife Solutions (NASDAQ:BLFS) last announced its quarterly earnings results on Thursday, May 9th. The medical equipment provider reported $0.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.03. BioLife Solutions had a return on equity of 10.32% and a net margin of 17.01%. The company had revenue of $5.77 million for the quarter, compared to the consensus estimate of $5.67 million.

Several analysts have weighed in on BLFS shares. BidaskClub cut BioLife Solutions from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. ValuEngine raised BioLife Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, January 31st. Zacks Investment Research cut BioLife Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, March 12th. Finally, Northland Securities reaffirmed a “buy” rating and set a $18.00 price objective on shares of BioLife Solutions in a research report on Monday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $17.75.

NASDAQ:BLFS traded down $0.16 during mid-day trading on Friday, reaching $17.57. 164,102 shares of the company’s stock traded hands, compared to its average volume of 159,362. BioLife Solutions has a 12-month low of $8.45 and a 12-month high of $26.35. The company has a market cap of $319.22 million, a PE ratio of 125.50 and a beta of 1.53. The company has a debt-to-equity ratio of 0.02, a current ratio of 14.50 and a quick ratio of 12.99.

In other news, CFO Greef Roderick De sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $16.53, for a total value of $165,300.00. Following the sale, the chief financial officer now directly owns 40,359 shares of the company’s stock, valued at approximately $667,134.27. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Andrew G. Hinson sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $17.19, for a total value of $103,140.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 81,429 shares of company stock worth $1,419,656. Insiders own 38.50% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Roubaix Capital LLC bought a new stake in shares of BioLife Solutions in the 1st quarter worth approximately $809,000. Vanguard Group Inc. lifted its position in BioLife Solutions by 43.1% in the 3rd quarter. Vanguard Group Inc. now owns 447,984 shares of the medical equipment provider’s stock valued at $7,839,000 after acquiring an additional 134,869 shares in the last quarter. Vanguard Group Inc lifted its position in BioLife Solutions by 43.1% in the 3rd quarter. Vanguard Group Inc now owns 447,984 shares of the medical equipment provider’s stock valued at $7,839,000 after acquiring an additional 134,869 shares in the last quarter. BlackRock Inc. lifted its position in BioLife Solutions by 199.8% in the 3rd quarter. BlackRock Inc. now owns 153,610 shares of the medical equipment provider’s stock valued at $2,688,000 after acquiring an additional 102,364 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in BioLife Solutions by 7.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 20,515 shares of the medical equipment provider’s stock valued at $247,000 after acquiring an additional 1,400 shares in the last quarter. 41.21% 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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