Wall Street brokerages forecast that BioLife Solutions Inc (NASDAQ:BLFS) will post sales of $5.29 million for the current quarter, Zacks reports. Three analysts have provided estimates for BioLife Solutions’ earnings, with the lowest sales estimate coming in at $5.00 million and the highest estimate coming in at $5.61 million. BioLife Solutions reported sales of $2.96 million during the same quarter last year, which indicates a positive year over year growth rate of 78.7%. The firm is scheduled to report its next earnings results on Thursday, November 8th.

According to Zacks, analysts expect that BioLife Solutions will report full year sales of $19.88 million for the current financial year, with estimates ranging from $19.10 million to $20.66 million. For the next financial year, analysts expect that the firm will report sales of $28.66 million, with estimates ranging from $26.00 million to $30.22 million. Zacks’ sales calculations 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 earnings results on Thursday, August 9th. The medical equipment provider reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.01. The firm had revenue of $5.18 million during the quarter, compared to analyst estimates of $5.20 million. BioLife Solutions had a net margin of 1.76% and a return on equity of 2.24%.

BLFS has been the topic of several recent analyst reports. BidaskClub downgraded shares of BioLife Solutions from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 7th. Maxim Group reaffirmed a “buy” rating and issued a $26.00 price target on shares of BioLife Solutions in a research note on Wednesday, September 5th. B. Riley set a $23.00 price target on shares of BioLife Solutions and gave the stock a “buy” rating in a research note on Tuesday, August 14th. Northland Securities reaffirmed a “buy” rating and issued a $18.00 price target on shares of BioLife Solutions in a research note on Friday, August 10th. Finally, TheStreet raised shares of BioLife Solutions from a “d” rating to a “c-” rating in a research note on Tuesday, September 11th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $22.33.

BLFS stock opened at $16.70 on Thursday. The stock has a market capitalization of $281.49 million, a P/E ratio of -79.52 and a beta of 1.46. BioLife Solutions has a 12 month low of $4.63 and a 12 month high of $26.35.

In related news, VP Todd Berard sold 3,000 shares of the firm’s stock in a transaction dated Friday, September 21st. The shares were sold at an average price of $17.23, for a total value of $51,690.00. Following the transaction, the vice president now owns 37,583 shares of the company’s stock, valued at approximately $647,555.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas Girschweiler sold 285,714 shares of the firm’s stock in a transaction dated Monday, July 9th. The shares were sold at an average price of $11.37, for a total transaction of $3,248,568.18. The disclosure for this sale can be found here. Insiders sold a total of 595,385 shares of company stock worth $7,621,702 in the last ninety days. 38.50% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of BLFS. Bank of Montreal Can purchased a new position in BioLife Solutions during the 2nd quarter valued at about $114,000. Kovack Advisors Inc. purchased a new position in BioLife Solutions during the 2nd quarter valued at about $126,000. OppenheimerFunds Inc. purchased a new position in BioLife Solutions during the 2nd quarter valued at about $130,000. Jane Street Group LLC purchased a new position in BioLife Solutions during the 2nd quarter valued at about $173,000. Finally, Shepherd Kaplan Krochuk LLC purchased a new position in BioLife Solutions during the 2nd quarter valued at about $183,000. 27.77% of the stock is currently 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.

See Also: Google Finance

Get a free copy of the Zacks research report on BioLife Solutions (BLFS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for BioLife Solutions (NASDAQ:BLFS)

Receive News & Ratings for BioLife Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioLife Solutions and related companies with MarketBeat.com's FREE daily email newsletter.