BioLife Solutions (NASDAQ:BLFS) Stock Price Up 15.7% on Earnings Beat

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS - Get Free Report) traded up 15.7% on Friday following a better than expected earnings announcement. The company traded as high as $20.88 and last traded at $20.83. 300,857 shares traded hands during mid-day trading, a decline of 27% from the average session volume of 409,936 shares. The stock had previously closed at $18.01.

The medical equipment provider reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.06. BioLife Solutions had a negative net margin of 46.37% and a negative return on equity of 13.36%. The firm had revenue of $31.73 million during the quarter, compared to the consensus estimate of $29.30 million. During the same period in the previous year, the firm posted ($0.27) earnings per share.

Analyst Ratings Changes

Separately, Jefferies Financial Group started coverage on shares of BioLife Solutions in a research note on Thursday, April 4th. They issued a "buy" rating and a $22.00 price target for the company. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. According to MarketBeat.com, BioLife Solutions has an average rating of "Moderate Buy" and a consensus price target of $23.40.

Insider Transactions at BioLife Solutions

In related news, CMO Todd Berard sold 10,000 shares of the business's stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $15.67, for a total transaction of $156,700.00. Following the transaction, the chief marketing officer now directly owns 129,644 shares in the company, valued at $2,031,521.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other BioLife Solutions news, CMO Todd Berard sold 10,000 shares of the business's stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $15.67, for a total value of $156,700.00. Following the transaction, the chief marketing officer now directly owns 129,644 shares in the company, valued at $2,031,521.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Greef Roderick De sold 7,249 shares of the business's stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $16.60, for a total transaction of $120,333.40. Following the completion of the transaction, the chief executive officer now owns 461,854 shares in the company, valued at $7,666,776.40. The disclosure for this sale can be found here. Insiders sold a total of 33,996 shares of company stock valued at $562,145 over the last three months. Corporate insiders own 2.70% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its position in shares of BioLife Solutions by 1,038.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,401,899 shares of the medical equipment provider's stock valued at $39,031,000 after purchasing an additional 2,191,002 shares during the period. William Blair Investment Management LLC bought a new stake in shares of BioLife Solutions in the third quarter valued at approximately $9,335,000. Vanguard Group Inc. raised its position in shares of BioLife Solutions by 11.5% in the first quarter. Vanguard Group Inc. now owns 2,868,335 shares of the medical equipment provider's stock valued at $53,208,000 after purchasing an additional 296,727 shares during the period. Granahan Investment Management LLC raised its position in shares of BioLife Solutions by 22.8% in the fourth quarter. Granahan Investment Management LLC now owns 1,292,675 shares of the medical equipment provider's stock valued at $21,006,000 after purchasing an additional 240,001 shares during the period. Finally, Roubaix Capital LLC raised its position in shares of BioLife Solutions by 90.8% in the fourth quarter. Roubaix Capital LLC now owns 280,337 shares of the medical equipment provider's stock valued at $4,555,000 after purchasing an additional 133,439 shares during the period. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

BioLife Solutions Trading Up 8.5 %

The firm's 50-day moving average price is $17.48 and its 200-day moving average price is $15.90. The company has a quick ratio of 1.83, a current ratio of 2.86 and a debt-to-equity ratio of 0.06. The company has a market cap of $885.16 million, a P/E ratio of -12.86 and a beta of 1.69.

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.