Principal Financial Group Inc. grew its position in BioLife Solutions, Inc. (NASDAQ:BLFS - Free Report) by 6.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 259,488 shares of the medical equipment provider's stock after buying an additional 15,241 shares during the quarter. Principal Financial Group Inc. owned approximately 0.55% of BioLife Solutions worth $5,927,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the stock. Steward Partners Investment Advisory LLC bought a new stake in BioLife Solutions during the fourth quarter worth approximately $26,000. Charles Schwab Investment Management Inc. raised its position in BioLife Solutions by 8.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 346,421 shares of the medical equipment provider's stock valued at $8,993,000 after purchasing an additional 26,462 shares during the last quarter. Proficio Capital Partners LLC bought a new position in BioLife Solutions in the 4th quarter worth approximately $638,000. Intech Investment Management LLC grew its position in shares of BioLife Solutions by 164.6% during the 4th quarter. Intech Investment Management LLC now owns 26,985 shares of the medical equipment provider's stock worth $701,000 after buying an additional 16,785 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in BioLife Solutions during the fourth quarter worth about $201,000. 93.24% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of BioLife Solutions from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. HC Wainwright restated a "buy" rating and issued a $30.00 target price on shares of BioLife Solutions in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $31.17.
Check Out Our Latest Report on BioLife Solutions
Insider Buying and Selling at BioLife Solutions
In other 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 stock was sold at an average price of $23.80, for a total value of $23,800,000.00. Following the sale, the insider directly owned 7,707,165 shares in the company, valued at approximately $183,430,527. This represents a 11.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 1,007,716 shares of company stock valued at $23,975,998 over the last ninety days. Company insiders own 2.20% of the company's stock.
BioLife Solutions Price Performance
Shares of NASDAQ:BLFS opened at $21.04 on Thursday. BioLife Solutions, Inc. has a twelve month low of $19.10 and a twelve month high of $29.55. The company has a 50-day moving average price of $22.24 and a two-hundred day moving average price of $24.22. The company has a quick ratio of 3.74, a current ratio of 4.73 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $1.01 billion, a PE ratio of -72.55 and a beta of 1.79.
BioLife Solutions (NASDAQ:BLFS - Get Free Report) last released its earnings results on Thursday, May 8th. The medical equipment provider reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of ($0.03) by $0.07. The company had revenue of $23.94 million during the quarter, compared to the consensus estimate of $22.22 million. BioLife Solutions had a negative return on equity of 0.66% and a negative net margin of 11.81%. Equities analysts forecast that BioLife Solutions, Inc. will post -0.3 EPS for the current year.
About BioLife Solutions
(
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.
See Also
Want to see what other hedge funds are holding BLFS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BioLife Solutions, Inc. (NASDAQ:BLFS - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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