Envestnet Asset Management Inc. Acquires 74,634 Shares of BioLife Solutions, Inc. (NASDAQ:BLFS)

Envestnet Asset Management Inc. boosted its holdings in shares of BioLife Solutions, Inc. (NASDAQ:BLFS - Free Report) by 37.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 273,329 shares of the medical equipment provider's stock after purchasing an additional 74,634 shares during the quarter. Envestnet Asset Management Inc. owned about 0.58% of BioLife Solutions worth $6,243,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Invesco Ltd. lifted its position in shares of BioLife Solutions by 1.1% during the 4th quarter. Invesco Ltd. now owns 3,239,469 shares of the medical equipment provider's stock worth $84,097,000 after buying an additional 36,176 shares during the period. Fred Alger Management LLC raised its stake in shares of BioLife Solutions by 1.0% in the fourth 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 last quarter. Millennium Management LLC raised its stake in shares of BioLife Solutions by 49.1% in the fourth 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 last quarter. Palisade Capital Management LP raised its position in BioLife Solutions by 13.7% in the 1st quarter. Palisade Capital Management LP now owns 947,085 shares of the medical equipment provider's stock valued at $21,631,000 after purchasing an additional 113,937 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in BioLife Solutions by 4.8% in 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 purchasing an additional 40,416 shares during the last quarter. Institutional investors own 93.24% of the company's stock.

BioLife Solutions Trading Up 1.4%

Shares of NASDAQ:BLFS traded up $0.32 during mid-day trading on Friday, hitting $22.58. The company had a trading volume of 325,386 shares, compared to its average volume of 491,881. 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 firm has a fifty day moving average price of $22.07 and a 200 day moving average price of $23.96. The company has a market capitalization of $1.08 billion, a PE ratio of -77.86 and a beta of 1.79.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The medical equipment provider reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.07. BioLife Solutions had a negative return on equity of 0.66% and a negative net margin of 11.81%. The company had revenue of $23.94 million during the quarter, compared to analyst estimates of $22.22 million. As a group, research analysts forecast that BioLife Solutions, Inc. will post -0.3 EPS for the current year.

Insider Activity

In other news, major shareholder Casdin Partners Master Fund, L sold 1,000,000 shares of BioLife Solutions stock in a transaction 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 completion of the sale, the insider directly owned 7,707,165 shares of the company's stock, valued at approximately $183,430,527. The trade was a 11.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 1,008,831 shares of company stock worth $23,999,658. Insiders own 2.20% of the company's stock.

Wall Street Analyst Weigh In

BLFS has been the topic of a number of recent research reports. Stephens began coverage on BioLife Solutions in a research report on Tuesday, July 22nd. They issued an "overweight" rating and a $30.00 price objective on the stock. Wall Street Zen cut shares of BioLife Solutions from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Finally, HC Wainwright restated a "buy" rating and issued a $30.00 price target on shares of BioLife Solutions in a report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $31.00.

BioLife Solutions 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.