Principal Financial Group Inc. increased its position in shares of BioLife Solutions, Inc. (NASDAQ:BLFS - Free Report) by 6.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 259,488 shares of the medical equipment provider's stock after purchasing an additional 15,241 shares during the quarter. Principal Financial Group Inc. owned approximately 0.55% of BioLife Solutions worth $5,927,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in BLFS. Invesco Ltd. boosted its position in BioLife Solutions by 1.1% during the 4th quarter. Invesco Ltd. now owns 3,239,469 shares of the medical equipment provider's stock valued at $84,097,000 after buying an additional 36,176 shares during the period. Fred Alger Management LLC lifted its position in BioLife Solutions by 1.0% during the 4th quarter. Fred Alger Management LLC now owns 1,594,221 shares of the medical equipment provider's stock valued at $41,386,000 after acquiring an additional 16,274 shares during the period. Millennium Management LLC lifted its position in BioLife Solutions by 49.1% during the 4th quarter. Millennium Management LLC now owns 1,145,347 shares of the medical equipment provider's stock valued at $29,733,000 after acquiring an additional 377,111 shares during the period. Dimensional Fund Advisors LP lifted its position in BioLife Solutions by 4.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 887,008 shares of the medical equipment provider's stock valued at $23,028,000 after acquiring an additional 40,416 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its position in BioLife Solutions by 40.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 821,764 shares of the medical equipment provider's stock valued at $21,333,000 after acquiring an additional 236,267 shares during the period. 93.24% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at BioLife Solutions
In other news, major shareholder Casdin Partners Master Fund, L sold 1,000,000 shares of the firm's 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 sale, the insider owned 7,707,165 shares of the company's stock, valued at $183,430,527. This trade represents a 11.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have sold 1,007,716 shares of company stock valued at $23,975,998. Company insiders own 2.20% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on BLFS shares. HC Wainwright reiterated a "buy" rating and issued a $30.00 price target on shares of BioLife Solutions in a research note on Tuesday, May 13th. Wall Street Zen lowered shares of BioLife Solutions from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $31.17.
Read Our Latest Analysis on BLFS
BioLife Solutions Price Performance
Shares of BioLife Solutions stock traded down $0.59 during trading hours on Friday, reaching $20.83. The company's stock had a trading volume of 408,131 shares, compared to its average volume of 421,124. The firm has a 50 day moving average price of $22.17 and a 200-day moving average price of $24.14. BioLife Solutions, Inc. has a one year low of $19.10 and a one year high of $29.55. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.73 and a quick ratio of 3.74. The stock has a market cap of $996.30 million, a P/E ratio of -71.83 and a beta of 1.79.
BioLife Solutions (NASDAQ:BLFS - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The medical equipment provider reported $0.04 EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.07. BioLife Solutions had a negative net margin of 11.81% and a negative return on equity of 0.66%. The firm had revenue of $23.94 million for the quarter, compared to analysts' expectations of $22.22 million. On average, analysts predict that BioLife Solutions, Inc. will post -0.3 EPS for the current year.
BioLife Solutions Profile
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Free Report)
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.
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