Essex Investment Management Co. LLC decreased its holdings in BioLife Solutions Inc (NASDAQ:BLFS) by 10.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 201,839 shares of the medical equipment provider’s stock after selling 22,784 shares during the period. Essex Investment Management Co. LLC’s holdings in BioLife Solutions were worth $3,356,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of BLFS. JPMorgan Chase & Co. bought a new position in BioLife Solutions in the second quarter worth approximately $30,000. Alpine Woods Capital Investors LLC bought a new position in BioLife Solutions in the second quarter worth approximately $170,000. Morgan Stanley raised its stake in BioLife Solutions by 17.5% in the second quarter. Morgan Stanley now owns 11,506 shares of the medical equipment provider’s stock worth $195,000 after buying an additional 1,713 shares in the last quarter. Menta Capital LLC bought a new position in BioLife Solutions in the second quarter worth approximately $202,000. Finally, Charles Schwab Investment Management Inc. bought a new position in BioLife Solutions in the second quarter worth approximately $283,000. 45.05% of the stock is owned by institutional investors.
A number of brokerages recently commented on BLFS. BidaskClub raised shares of BioLife Solutions from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Zacks Investment Research downgraded shares of BioLife Solutions from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. HC Wainwright began coverage on BioLife Solutions in a research report on Monday, July 22nd. They set a “buy” rating and a $23.00 price target on the stock. Maxim Group set a $26.00 price target on BioLife Solutions and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Finally, Northland Securities upped their price target on BioLife Solutions from $18.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $19.33.
BioLife Solutions (NASDAQ:BLFS) last issued its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The business had revenue of $6.70 million for the quarter, compared to the consensus estimate of $6.59 million. BioLife Solutions had a return on equity of 8.65% and a net margin of 14.60%. On average, equities analysts forecast that BioLife Solutions Inc will post 0.08 earnings per share for the current year.
In other news, VP James Mathers sold 2,500 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $19.71, for a total transaction of $49,275.00. Following the sale, the vice president now directly owns 19,884 shares of the company’s stock, valued at $391,913.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Todd Berard sold 3,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $17.97, for a total transaction of $53,910.00. Following the sale, the vice president now directly owns 44,074 shares in the company, valued at $792,009.78. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 230,056 shares of company stock worth $4,370,349. Insiders own 27.00% of the company’s stock.
BioLife Solutions Company Profile
BioLife Solutions, Inc develops, manufactures, and markets grade cell and 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 cell damage and death.
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