BioLife Solutions (NASDAQ:BLFS) Rating Lowered to Hold at Zacks Research

Key Points

• Zacks Research downgraded BioLife Solutions to “Hold” from “Strong Buy,” joining several analysts who have also recently lowered their ratings. The stock has a consensus “Hold” rating and an average price target of $31.38.
• BioLife Solutions shares opened at $38.07, near their 52-week high of $38.28, and were up 2.4%. The company has a market capitalization of approximately $1.86 billion and a price-to-earnings ratio of 32.82.
• The company reported quarterly EPS of $0.91, far exceeding the $0.03 consensus estimate, while revenue reached $28.47 million. Institutional investors and hedge funds own approximately 93.24% of the stock.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued on Monday, Zacks reports.

A number of other research analysts have also commented on BLFS. Wall Street Zen lowered shares of BioLife Solutions from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Lake Street Capital cut BioLife Solutions from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $33.00 to $31.00 in a report on Wednesday, July 22nd. Craig Hallum downgraded BioLife Solutions from a "buy" rating to a "hold" rating and set a $31.00 target price on the stock. in a research report on Wednesday, July 22nd. Maxim Group cut BioLife Solutions from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 22nd. Finally, Stephens reiterated an "equal weight" rating and set a $31.00 price objective (down from $32.00) on shares of BioLife Solutions in a research report on Monday, July 27th. One research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $31.38.

BioLife Solutions Trading Up 2.4%

BLFS opened at $38.07 on Monday. The stock's fifty day simple moving average is $34.28 and its 200 day simple moving average is $27.01. BioLife Solutions has a 1-year low of $17.86 and a 1-year high of $38.28. The stock has a market cap of $1.86 billion, a PE ratio of 32.82 and a beta of 1.91.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.03 by $0.88. The firm had revenue of $28.47 million for the quarter, compared to the consensus estimate of $27.80 million. BioLife Solutions had a net margin of 53.29% and a return on equity of 2.70%. Equities analysts forecast that BioLife Solutions will post 0.03 earnings per share for the current year.

Institutional Investors Weigh In On BioLife Solutions

A number of large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in BioLife Solutions by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,035,757 shares of the medical equipment provider's stock valued at $19,761,000 after purchasing an additional 10,587 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of BioLife Solutions by 73.4% in the 1st quarter. Bank of America Corp DE now owns 904,103 shares of the medical equipment provider's stock valued at $17,250,000 after purchasing an additional 382,776 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of BioLife Solutions by 8.1% during the 1st quarter. Royal Bank of Canada now owns 885,298 shares of the medical equipment provider's stock valued at $16,891,000 after purchasing an additional 66,010 shares during the last quarter. Granahan Investment Management LLC increased its position in BioLife Solutions by 49.7% during the 1st quarter. Granahan Investment Management LLC now owns 722,057 shares of the medical equipment provider's stock worth $13,777,000 after purchasing an additional 239,701 shares in the last quarter. Finally, Stephens Investment Management Group LLC lifted its stake in BioLife Solutions by 10.9% in the 1st quarter. Stephens Investment Management Group LLC now owns 673,129 shares of the medical equipment provider's stock valued at $12,843,000 after purchasing an additional 66,242 shares during the last quarter. 93.24% of the stock is currently owned by institutional investors and hedge funds.

About BioLife Solutions

BioLife Solutions, Inc develops and supplies tools and services used in the development, manufacture, preservation and distribution of cell and gene therapies. Its products are designed to help maintain the viability and functionality of cells, tissues and other biological materials during processing, freezing, storage and transportation.

The company's portfolio includes cell and tissue preservation media, thawing and processing solutions, cryogenic storage systems, controlled-rate freezing equipment and related bioproduction technologies.

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