New York State Teachers Retirement System boosted its position in shares of BioLife Solutions, Inc. (NASDAQ:BLFS – Get Rating) by 7.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 73,183 shares of the medical equipment provider's stock after buying an additional 5,101 shares during the period. New York State Teachers Retirement System owned approximately 0.17% of BioLife Solutions worth $1,665,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System raised its position in BioLife Solutions by 15.9% during the third quarter. Maryland State Retirement & Pension System now owns 13,938 shares of the medical equipment provider's stock valued at $317,000 after purchasing an additional 1,914 shares during the period. Allspring Global Investments Holdings LLC raised its position in BioLife Solutions by 802.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,218 shares of the medical equipment provider's stock valued at $27,000 after purchasing an additional 1,083 shares during the period. Mesirow Financial Investment Management Inc. raised its position in BioLife Solutions by 74.7% during the third quarter. Mesirow Financial Investment Management Inc. now owns 18,343 shares of the medical equipment provider's stock valued at $417,000 after purchasing an additional 7,846 shares during the period. Truist Financial Corp purchased a new stake in BioLife Solutions during the third quarter valued at approximately $307,000. Finally, Wipfli Financial Advisors LLC purchased a new stake in BioLife Solutions during the third quarter valued at approximately $29,000. 89.82% of the stock is owned by institutional investors.
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BioLife Solutions Trading Down 3.8 %
Shares of NASDAQ BLFS opened at $23.99 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.76 and a current ratio of 3.68. The business's 50 day moving average price is $20.38 and its 200-day moving average price is $21.03. BioLife Solutions, Inc. has a fifty-two week low of $10.40 and a fifty-two week high of $31.11. The company has a market cap of $1.03 billion, a price-to-earnings ratio of -9.67 and a beta of 1.75.
BioLife Solutions (NASDAQ:BLFS – Get Rating) last released its quarterly earnings data on Wednesday, November 9th. The medical equipment provider reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.03). The firm had revenue of $40.75 million for the quarter, compared to analysts' expectations of $41.63 million. BioLife Solutions had a negative return on equity of 7.50% and a negative net
margin of 67.70%. On average, sell-side analysts expect that BioLife Solutions, Inc. will post -0.63 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the company. Stephens decreased their price objective on BioLife Solutions to $31.00 in a research report on Wednesday, November 16th. StockNews.com upgraded BioLife Solutions to a "sell" rating in a report on Monday, November 21st.
Insiders Place Their Bets
In other BioLife Solutions news, EVP Aby J. Mathew sold 10,000 shares of the firm's stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $17.77, for a total transaction of $177,700.00. Following the transaction, the executive vice president now directly owns 252,826 shares in the company, valued at approximately $4,492,718.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other BioLife Solutions news, COO Greef Roderick De sold 33,905 shares of the stock in a transaction on Wednesday, November 30th. The stock was sold at an average price of $20.59, for a total transaction of $698,103.95. Following the sale, the chief operating officer now owns 34,314 shares of the company's stock, valued at approximately $706,525.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Aby J. Mathew sold 10,000 shares of the stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $17.77, for a total value of $177,700.00. Following the sale, the executive vice president now directly owns 252,826 shares in the company, valued at approximately $4,492,718.02. The disclosure for this sale can be found here. Insiders have sold 100,016 shares of company stock worth $2,122,346 in the last ninety days. 3.30% of the stock is owned by company insiders.
About BioLife Solutions
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BioLife Solutions, Inc develops, manufactures, and supplies bioproduction tools and services for the cell and gene therapy industry in the United States, Canada, 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.
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