238,521 Shares in BioLife Solutions, Inc. $BLFS Acquired by Ranger Investment Management L.P.

Key Points

• Ranger Investment Management acquired 238,521 BioLife Solutions shares worth approximately $6.7 million, taking a 0.49% stake. Institutional investors collectively own 93.24% of the company.
• BioLife Solutions reported quarterly EPS of $0.91, far exceeding the $0.03 analyst consensus, while revenue of $28.47 million modestly topped expectations.
• BLFS shares opened at $37.10, near their 52-week high, despite a consensus analyst rating of Hold and an average price target of $31.38 following several recent downgrades.

Ranger Investment Management L.P. bought a new position in shares of BioLife Solutions, Inc. (NASDAQ:BLFS - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 238,521 shares of the medical equipment provider's stock, valued at approximately $6,736,000. Ranger Investment Management L.P. owned 0.49% of BioLife Solutions at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Summit Creek Advisors LLC purchased a new stake in shares of BioLife Solutions in the second quarter worth $5,099,000. BlackRock Inc. bought a new stake in shares of BioLife Solutions during the 2nd quarter valued at $168,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of BioLife Solutions during the 2nd quarter valued at $4,346,000. Bank of New York Mellon Corp purchased a new position in shares of BioLife Solutions during the 2nd quarter valued at $6,470,000. Finally, GAMMA Investing LLC boosted its holdings in BioLife Solutions by 36.6% in the 2nd quarter. GAMMA Investing LLC now owns 8,996 shares of the medical equipment provider's stock worth $254,000 after buying an additional 2,410 shares during the period. Hedge funds and other institutional investors own 93.24% of the company's stock.

BioLife Solutions Stock Performance

Shares of NASDAQ:BLFS opened at $37.10 on Monday. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 31.98 and a beta of 1.93. The firm has a fifty day moving average price of $30.34 and a 200 day moving average price of $24.88. BioLife Solutions, Inc. has a fifty-two week low of $17.86 and a fifty-two week high of $38.10.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The medical equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.88. The company 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%. As a group, research analysts predict that BioLife Solutions, Inc. will post 0.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

BLFS has been the subject of a number of analyst reports. Craig Hallum lowered BioLife Solutions from a "buy" rating to a "hold" rating and set a $31.00 price target for the company. in a research note on Wednesday, July 22nd. Benchmark downgraded BioLife Solutions from a "buy" rating to a "hold" rating in a research report on Monday, August 10th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of BioLife Solutions in a research note on Friday, July 17th. Stephens reaffirmed an "equal weight" rating and issued a $31.00 price objective (down from $32.00) on shares of BioLife Solutions in a research note on Monday, July 27th. Finally, Jefferies Financial Group downgraded BioLife Solutions from a "buy" rating to a "hold" rating and lifted their target price for the company from $30.00 to $31.00 in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $31.38.

About BioLife Solutions

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.

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