BioLife Solutions, Inc. to Post Q1 2023 Earnings of ($0.21) Per Share, B. Riley Forecasts (NASDAQ:BLFS)

Posted by Defense World Staff on Apr 7th, 2023

BioLife Solutions, Inc. (NASDAQ:BLFS – Get Rating) – Research analysts at B. Riley issued their Q1 2023 earnings per share (EPS) estimates for BioLife Solutions in a report issued on Monday, April 3rd. B. Riley analyst Y. Zhi anticipates that the medical equipment provider will post earnings of ($0.21) per share for the quarter. The consensus estimate for BioLife Solutions’ current full-year earnings is ($0.20) per share. B. Riley also issued estimates for BioLife Solutions’ Q2 2023 earnings at ($0.17) EPS, Q3 2023 earnings at ($0.12) EPS, Q4 2023 earnings at ($0.09) EPS, FY2023 earnings at ($0.59) EPS and FY2024 earnings at ($0.05) EPS.

A number of other research analysts also recently commented on the company. StockNews.com assumed coverage on BioLife Solutions in a research note on Thursday, March 16th. They issued a “sell” rating on the stock. Stephens lowered their target price on BioLife Solutions from $31.00 to $27.00 and set an “overweight” rating on the stock in a research note on Friday, March 17th. Finally, Oppenheimer restated an “outperform” rating and issued a $28.00 target price on shares of BioLife Solutions in a research note on Monday, March 6th.

BioLife Solutions Stock Performance

Shares of NASDAQ BLFS opened at $20.13 on Thursday. The business’s 50-day moving average price is $22.39 and its two-hundred day moving average price is $21.60. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.11 and a quick ratio of 2.76. BioLife Solutions has a one year low of $10.40 and a one year high of $26.96. The company has a market capitalization of $869.82 million, a P/E ratio of -6.17 and a beta of 1.83.

Hedge Funds Weigh In On BioLife Solutions

Several large investors have recently made changes to their positions in BLFS. Allspring Global Investments Holdings LLC lifted its position in shares of BioLife Solutions by 802.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,218 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 1,083 shares during the last quarter. Wipfli Financial Advisors LLC acquired a new position in shares of BioLife Solutions during the 3rd quarter worth about $29,000. Nisa Investment Advisors LLC raised its holdings in BioLife Solutions by 439.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,510 shares of the medical equipment provider’s stock valued at $34,000 after acquiring an additional 1,230 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in BioLife Solutions in the 1st quarter valued at approximately $36,000. Finally, Lazard Asset Management LLC acquired a new position in BioLife Solutions in the 1st quarter valued at approximately $45,000. Institutional investors and hedge funds own 89.82% of the company’s stock.

Insider Transactions at BioLife Solutions

In other news, CFO Troy Wichterman sold 1,576 shares of the company’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $22.75, for a total transaction of $35,854.00. Following the completion of the sale, the chief financial officer now owns 77,253 shares in the company, valued at approximately $1,757,505.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Aby J. Mathew sold 10,000 shares of the business’s stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $24.85, for a total transaction of $248,500.00. Following the completion of the transaction, the executive vice president now owns 273,765 shares of the company’s stock, valued at approximately $6,803,060.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Troy Wichterman sold 1,576 shares of the business’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $22.75, for a total value of $35,854.00. Following the transaction, the chief financial officer now directly owns 77,253 shares of the company’s stock, valued at approximately $1,757,505.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,108 shares of company stock worth $1,607,174. 3.30% of the stock is owned by corporate insiders.

BioLife Solutions Company Profile

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BioLife Solutions, Inc engages in the development, manufacture and marketing of bio preservation tools for cells and tissues. Its product offerings include proprietary hypothermic storage and cryopreservation freeze media products for cells, tissues, and organs, generic blood stem cell freezing and cell thawing media products and custom product formulation and custom packaging services.