Shares of BioLife Solutions Inc (NASDAQ:BLFS) shot up 5.8% on Tuesday . The company traded as high as $18.40 and last traded at $18.32, 167,255 shares were traded during trading. A decline of 4% from the average session volume of 174,047 shares. The stock had previously closed at $17.31.

A number of research firms recently weighed in on BLFS. HC Wainwright began coverage on BioLife Solutions in a report on Monday, July 22nd. They set a “buy” rating and a $23.00 target price on the stock. Maxim Group set a $24.00 target price on BioLife Solutions and gave the stock a “buy” rating in a report on Friday. ValuEngine lowered BioLife Solutions from a “buy” rating to a “hold” rating in a report on Saturday. Northland Securities reissued a “buy” rating and set a $18.00 target price on shares of BioLife Solutions in a report on Tuesday, July 9th. Finally, Zacks Investment Research lowered BioLife Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $18.67.

The company has a debt-to-equity ratio of 0.02, a current ratio of 14.50 and a quick ratio of 12.99. The firm has a market capitalization of $319.59 million, a price-to-earnings ratio of 130.86 and a beta of 1.37. The company has a fifty day moving average of $17.44.

BioLife Solutions (NASDAQ:BLFS) last released its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported $0.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.02. The business had revenue of $6.70 million during the quarter, compared to the consensus estimate of $6.59 million. BioLife Solutions had a return on equity of 8.77% and a net margin of 14.60%. As a group, analysts expect that BioLife Solutions Inc will post 0.13 EPS for the current fiscal year.

In related news, major shareholder Walter Villiger sold 39,883 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $19.18, for a total value of $764,955.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Todd Berard sold 3,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $16.96, for a total value of $50,880.00. Following the completion of the sale, the vice president now owns 44,074 shares of the company’s stock, valued at $747,495.04. The disclosure for this sale can be found here. Insiders sold a total of 267,878 shares of company stock valued at $4,775,862 over the last 90 days. 27.00% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BLFS. Bank of New York Mellon Corp increased its position in shares of BioLife Solutions by 36.1% during the 4th quarter. Bank of New York Mellon Corp now owns 64,930 shares of the medical equipment provider’s stock worth $781,000 after purchasing an additional 17,209 shares during the last quarter. Northern Trust Corp increased its holdings in shares of BioLife Solutions by 19.2% during the 4th quarter. Northern Trust Corp now owns 49,729 shares of the medical equipment provider’s stock worth $598,000 after acquiring an additional 8,003 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of BioLife Solutions by 34.1% during the 4th quarter. Geode Capital Management LLC now owns 83,588 shares of the medical equipment provider’s stock worth $1,005,000 after acquiring an additional 21,267 shares during the last quarter. Two Sigma Advisers LP increased its holdings in shares of BioLife Solutions by 54.2% during the 4th quarter. Two Sigma Advisers LP now owns 25,900 shares of the medical equipment provider’s stock worth $312,000 after acquiring an additional 9,100 shares during the last quarter. Finally, Conestoga Capital Advisors LLC acquired a new position in shares of BioLife Solutions during the 1st quarter worth approximately $238,000. Institutional investors and hedge funds own 46.17% of the company’s stock.

About BioLife Solutions (NASDAQ:BLFS)

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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