BioLife Solutions, Inc. $BLFS Shares Newly Acquired by ProShare Advisors LLC

ProShare Advisors LLC bought a new stake in BioLife Solutions, Inc. (NASDAQ:BLFS) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 17,590 shares of the medical equipment provider’s stock, valued at approximately $683,000.

Several other institutional investors and hedge funds have also made changes to their positions in BLFS. Squarepoint Ops LLC acquired a new position in BioLife Solutions during the second quarter worth approximately $3,754,000. Tidal Investments LLC purchased a new stake in BioLife Solutions in the second quarter valued at approximately $819,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in BioLife Solutions in the second quarter valued at approximately $4,346,000. Hsbc Holdings PLC purchased a new stake in BioLife Solutions in the first quarter valued at approximately $874,000. Finally, Ranger Investment Management L.P. acquired a new stake in shares of BioLife Solutions in the second quarter valued at approximately $6,736,000. 93.24% of the stock is owned by hedge funds and other institutional investors.

BioLife Solutions Price Performance

Shares of BLFS stock opened at $38.61 on Monday. The stock has a market capitalization of $1.89 billion, a PE ratio of 33.28 and a beta of 1.82. BioLife Solutions, Inc. has a 52-week low of $17.86 and a 52-week high of $39.76. The stock’s 50-day moving average price is $37.68 and its 200 day moving average price is $28.31.

BioLife Solutions (NASDAQ:BLFS) last posted its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.03 by $0.88. BioLife Solutions had a return on equity of 2.70% and a net margin of 53.29%. The firm had revenue of $28.47 million during the quarter, compared to the consensus estimate of $27.80 million. Analysts expect that BioLife Solutions, Inc. will post 0.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BLFS. Stephens lowered shares of BioLife Solutions from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $32.00 to $31.00 in a research report on Monday, July 27th. Weiss Ratings upgraded shares of BioLife Solutions from a “sell (d-)” rating to a “hold (c)” rating in a research report on Tuesday, September 22nd. Benchmark downgraded shares of BioLife Solutions from a “buy” rating to a “hold” rating in a research report on Monday, August 10th. HC Wainwright cut shares of BioLife Solutions from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $32.00 to $31.00 in a research note on Thursday, July 23rd. Finally, Jefferies Financial Group downgraded shares of BioLife Solutions from a “buy” rating to a “hold” rating and raised their price objective for the stock from $30.00 to $31.00 in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $31.38.

About BioLife Solutions

BioLife Solutions, Inc develops and supplies products and services used to preserve, process, store and transport biological materials. Its solutions support the development and manufacture of cell and gene therapies, including products designed to help maintain the viability and functionality of cells, tissues and other biologic materials throughout the bioprocessing workflow.

The company’s portfolio includes preservation media such as CryoStor and HypoThermosol, cell thawing and handling products, and related storage and shipping systems.