Invesco Ltd. Purchases 36,176 Shares of BioLife Solutions, Inc. (NASDAQ:BLFS)

Invesco Ltd. boosted its position in BioLife Solutions, Inc. (NASDAQ:BLFS - Free Report) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,239,469 shares of the medical equipment provider's stock after purchasing an additional 36,176 shares during the quarter. Invesco Ltd. owned approximately 6.98% of BioLife Solutions worth $84,097,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp increased its stake in shares of BioLife Solutions by 7.3% in the 3rd quarter. State Street Corp now owns 1,412,316 shares of the medical equipment provider's stock worth $35,364,000 after acquiring an additional 95,788 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of BioLife Solutions by 2.2% during the third quarter. Geode Capital Management LLC now owns 842,771 shares of the medical equipment provider's stock valued at $21,107,000 after purchasing an additional 18,473 shares in the last quarter. Barclays PLC lifted its holdings in shares of BioLife Solutions by 20.1% during the third quarter. Barclays PLC now owns 64,423 shares of the medical equipment provider's stock valued at $1,613,000 after purchasing an additional 10,803 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of BioLife Solutions by 40.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 19,463 shares of the medical equipment provider's stock worth $487,000 after purchasing an additional 5,638 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of BioLife Solutions in the 4th quarter worth approximately $638,000. Hedge funds and other institutional investors own 93.24% of the company's stock.

BioLife Solutions Stock Performance

Shares of BLFS stock traded down $0.35 during trading hours on Friday, reaching $21.91. The company had a trading volume of 529,574 shares, compared to its average volume of 376,628. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.78. The business has a fifty day moving average price of $24.71 and a 200-day moving average price of $25.27. BioLife Solutions, Inc. has a one year low of $14.84 and a one year high of $29.55. The firm has a market cap of $1.04 billion, a PE ratio of -20.67 and a beta of 1.93.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last announced its earnings results on Monday, March 3rd. The medical equipment provider reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of ($0.06) by $0.32. The business had revenue of $22.71 million during the quarter, compared to analyst estimates of $21.73 million. BioLife Solutions had a negative net margin of 38.98% and a negative return on equity of 6.61%. During the same period in the previous year, the business earned ($0.21) EPS. Sell-side analysts predict that BioLife Solutions, Inc. will post -0.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on BLFS. Northland Securities lifted their price objective on BioLife Solutions from $28.00 to $31.00 and gave the company an "outperform" rating in a research note on Wednesday, January 8th. HC Wainwright lifted their price target on BioLife Solutions from $27.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Benchmark reissued a "buy" rating and set a $30.00 price objective on shares of BioLife Solutions in a research report on Thursday, December 19th. Finally, StockNews.com raised shares of BioLife Solutions from a "sell" rating to a "hold" rating in a report on Tuesday, April 8th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.17.

Insider Buying and Selling at BioLife Solutions

In other news, CMO Todd Berard sold 1,577 shares of BioLife Solutions stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $25.00, for a total transaction of $39,425.00. Following the transaction, the chief marketing officer now owns 104,961 shares in the company, valued at $2,624,025. This trade represents a 1.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Troy Wichterman sold 4,151 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $25.00, for a total value of $103,775.00. Following the completion of the sale, the chief financial officer now owns 116,809 shares of the company's stock, valued at $2,920,225. This trade represents a 3.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,127 shares of company stock worth $1,676,533 in the last three months. 2.20% of the stock is currently owned by company insiders.

About BioLife Solutions

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.