TD Asset Management Inc Buys Shares of 38,820 BioLife Solutions, Inc. (NASDAQ:BLFS)

Key Points

• TD Asset Management Inc acquired 38,820 shares of BioLife Solutions, Inc. valued at approximately $887,000, representing 0.08% ownership by the end of the first quarter.
• In the most recent quarter, several large investors such as Rhumbline Advisers and GAMMA Investing LLC increased their stakes in BioLife Solutions, indicating growing interest among institutional investors.
• BioLife Solutions reported earnings that exceeded expectations, with an earnings per share of $0.04 compared to the consensus estimate of ($0.03), alongside a current forecast of a -0.3 EPS for the year.

TD Asset Management Inc bought a new stake in shares of BioLife Solutions, Inc. (NASDAQ:BLFS - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 38,820 shares of the medical equipment provider's stock, valued at approximately $887,000. TD Asset Management Inc owned approximately 0.08% of BioLife Solutions at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in BioLife Solutions in the fourth quarter worth about $20,664,000. Massachusetts Financial Services Co. MA bought a new position in shares of BioLife Solutions during the fourth quarter valued at approximately $19,805,000. Point72 Asset Management L.P. purchased a new position in shares of BioLife Solutions during the fourth quarter valued at approximately $11,113,000. Millennium Management LLC boosted its position in shares of BioLife Solutions by 49.1% in the 4th quarter. Millennium Management LLC now owns 1,145,347 shares of the medical equipment provider's stock worth $29,733,000 after purchasing an additional 377,111 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its position in shares of BioLife Solutions by 40.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 821,764 shares of the medical equipment provider's stock worth $21,333,000 after purchasing an additional 236,267 shares in the last quarter. Hedge funds and other institutional investors own 93.24% of the company's stock.

Wall Street Analysts Forecast Growth

BLFS has been the subject of a number of recent research reports. HC Wainwright reiterated a "buy" rating and set a $32.00 price objective (up previously from $30.00) on shares of BioLife Solutions in a research note on Friday. Wall Street Zen downgraded BioLife Solutions from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Finally, Stephens assumed coverage on shares of BioLife Solutions in a research note on Tuesday, July 22nd. They issued an "overweight" rating and a $30.00 price target on the stock. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.29.

BioLife Solutions Stock Up 11.5%

Shares of BLFS stock traded up $2.37 during mid-day trading on Friday, hitting $23.01. The company's stock had a trading volume of 410,181 shares, compared to its average volume of 464,781. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of -79.26 and a beta of 1.76. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.74 and a current ratio of 4.73. BioLife Solutions, Inc. has a 52-week low of $19.10 and a 52-week high of $29.55. The business has a 50-day moving average price of $21.89 and a 200 day moving average price of $23.65.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last issued its earnings results on Thursday, August 7th. The medical equipment provider reported ($0.33) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.31). The business had revenue of $25.42 million during the quarter, compared to analysts' expectations of $23.71 million. BioLife Solutions had a negative return on equity of 0.66% and a negative net margin of 11.81%. Research analysts predict that BioLife Solutions, Inc. will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling at BioLife Solutions

In related news, major shareholder Casdin Partners Master Fund, L sold 1,000,000 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $23.80, for a total transaction of $23,800,000.00. Following the transaction, the insider owned 7,707,165 shares in the company, valued at $183,430,527. This represents a 11.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 1,008,831 shares of company stock worth $23,999,658 over the last three months. 2.20% of the stock is owned by insiders.

BioLife Solutions Company Profile

BioLife Solutions, Inc develops, manufactures, and markets bioproduction tools and services for the cell and gene therapy (CGT) industry in the United States, 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.