Brokerages Expect BioLife Solutions Inc (BLFS) to Announce $0.04 Earnings Per Share

Wall Street brokerages predict that BioLife Solutions Inc (NASDAQ:BLFS) will report earnings per share (EPS) of $0.04 for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for BioLife Solutions’ earnings, with the lowest EPS estimate coming in at $0.02 and the highest estimate coming in at $0.05. BioLife Solutions reported earnings per share of ($0.03) during the same quarter last year, which indicates a positive year over year growth rate of 233.3%. The business is expected to issue its next earnings results on Thursday, November 8th.

According to Zacks, analysts expect that BioLife Solutions will report full year earnings of $0.14 per share for the current financial year, with EPS estimates ranging from $0.13 to $0.15. For the next financial year, analysts expect that the company will report earnings of $0.28 per share, with EPS estimates ranging from $0.23 to $0.35. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for BioLife Solutions.

BioLife Solutions (NASDAQ:BLFS) last released its quarterly earnings results on Thursday, August 9th. The medical equipment provider reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.01. BioLife Solutions had a net margin of 1.76% and a return on equity of 2.24%. The business had revenue of $5.18 million during the quarter, compared to analysts’ expectations of $5.20 million.

A number of equities analysts have commented on the stock. B. Riley set a $22.00 price target on shares of BioLife Solutions and gave the stock a “buy” rating in a research note on Wednesday, October 3rd. ValuEngine cut shares of BioLife Solutions from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 27th. BidaskClub cut shares of BioLife Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, September 22nd. TheStreet raised shares of BioLife Solutions from a “d” rating to a “c-” rating in a research note on Tuesday, September 11th. Finally, Maxim Group reaffirmed a “buy” rating and issued a $26.00 price objective on shares of BioLife Solutions in a research note on Wednesday, September 5th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $22.00.

BLFS stock traded down $0.32 during midday trading on Friday, reaching $12.41. The company had a trading volume of 78,500 shares, compared to its average volume of 213,850. BioLife Solutions has a 1 year low of $4.63 and a 1 year high of $26.35. The stock has a market cap of $218.28 million, a PE ratio of -60.76 and a beta of 1.51.

In other news, VP Todd Berard sold 3,000 shares of the company’s stock in a transaction on Friday, September 21st. The shares were sold at an average price of $17.23, for a total value of $51,690.00. Following the completion of the sale, the vice president now owns 37,583 shares of the company’s stock, valued at approximately $647,555.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Raymond W. Cohen sold 10,000 shares of the company’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $19.70, for a total transaction of $197,000.00. Following the completion of the sale, the director now directly owns 43,031 shares of the company’s stock, valued at approximately $847,710.70. The disclosure for this sale can be found here. Insiders sold a total of 95,385 shares of company stock valued at $1,836,984 in the last ninety days. 38.50% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in BLFS. Millennium Management LLC boosted its position in BioLife Solutions by 32.3% during the 1st quarter. Millennium Management LLC now owns 241,470 shares of the medical equipment provider’s stock valued at $1,234,000 after buying an additional 58,920 shares during the period. Bank of Montreal Can purchased a new stake in BioLife Solutions during the 2nd quarter valued at $114,000. Essex Investment Management Co. LLC boosted its position in BioLife Solutions by 29.4% during the 2nd quarter. Essex Investment Management Co. LLC now owns 295,728 shares of the medical equipment provider’s stock valued at $3,374,000 after buying an additional 67,182 shares during the period. Acadian Asset Management LLC purchased a new stake in BioLife Solutions during the 2nd quarter valued at $569,000. Finally, BNP Paribas Arbitrage SA purchased a new stake in BioLife Solutions during the 2nd quarter valued at $799,000. 27.70% of the stock is owned by institutional investors and hedge funds.

About BioLife Solutions

BioLife Solutions, Inc develops, manufactures, and markets patented tissue hypothermic storage and cryopreservation freeze media products for cells, tissues, and organs in the United States. Its products are serum-free and protein-free solutions, which are formulated to reduce preservation-induced, and delayed-onset cell damage and death.

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