Geneva Capital Management LLC Has $14.21 Million Stake in BioLife Solutions, Inc. (NASDAQ:BLFS)

Geneva Capital Management LLC lowered its position in shares of BioLife Solutions, Inc. (NASDAQ:BLFS - Free Report) by 42.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 874,485 shares of the medical equipment provider's stock after selling 650,906 shares during the period. Geneva Capital Management LLC owned 1.99% of BioLife Solutions worth $14,210,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in BioLife Solutions by 8.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,622 shares of the medical equipment provider's stock valued at $216,000 after acquiring an additional 1,164 shares during the last quarter. Roubaix Capital LLC purchased a new stake in BioLife Solutions in the third quarter valued at $2,029,000. Allspring Global Investments Holdings LLC lifted its position in BioLife Solutions by 88.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 11,346 shares of the medical equipment provider's stock valued at $157,000 after acquiring an additional 5,324 shares during the last quarter. Kornitzer Capital Management Inc. KS lifted its position in BioLife Solutions by 26.3% in the third quarter. Kornitzer Capital Management Inc. KS now owns 88,800 shares of the medical equipment provider's stock valued at $1,226,000 after acquiring an additional 18,500 shares during the last quarter. Finally, American Financial Group Inc. lifted its position in BioLife Solutions by 12.5% in the third quarter. American Financial Group Inc. now owns 29,602 shares of the medical equipment provider's stock valued at $409,000 after acquiring an additional 3,286 shares during the last quarter. Institutional investors and hedge funds own 93.24% of the company's stock.

BioLife Solutions Stock Performance

Shares of NASDAQ:BLFS traded up $1.53 on Friday, reaching $19.54. The company's stock had a trading volume of 1,692,947 shares, compared to its average volume of 425,890. The stock's 50-day moving average is $17.45 and its two-hundred day moving average is $15.83. BioLife Solutions, Inc. has a 52-week low of $8.92 and a 52-week high of $24.50. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.86 and a quick ratio of 1.83. The stock has a market capitalization of $885.16 million, a P/E ratio of -13.17 and a beta of 1.69.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last posted its quarterly earnings results on Thursday, May 9th. The medical equipment provider reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.06. The firm had revenue of $31.73 million during the quarter, compared to analysts' expectations of $29.30 million. BioLife Solutions had a negative net margin of 46.37% and a negative return on equity of 13.36%. During the same period in the prior year, the company posted ($0.27) earnings per share. As a group, sell-side analysts forecast that BioLife Solutions, Inc. will post -0.6 EPS for the current year.

Insider Buying and Selling

In related news, CMO Todd Berard sold 10,000 shares of the 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 completion of the transaction, the chief marketing officer now directly owns 129,644 shares of the company's stock, valued at $2,031,521.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other BioLife Solutions news, CMO Todd Berard sold 10,000 shares of the company'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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Amy Duross sold 6,135 shares of the company's stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $16.86, for a total transaction of $103,436.10. Following the transaction, the director now owns 34,508 shares in the company, valued at $581,804.88. The disclosure for this sale can be found here. Insiders sold 33,996 shares of company stock valued at $562,145 over the last ninety days. Corporate insiders own 2.70% of the company's stock.

Wall Street Analyst Weigh In

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

BioLife Solutions Company 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.