BioLife Solutions, Inc. to Post Q2 2022 Earnings of $0.01 Per Share, KeyCorp Forecasts (NASDAQ:BLFS)

BioLife Solutions, Inc. (NASDAQ:BLFS – Get Rating) – Stock analysts at KeyCorp lifted their Q2 2022 earnings estimates for shares of BioLife Solutions in a research report issued to clients and investors on Monday, May 9th. KeyCorp analyst P. Knight now expects that the medical equipment provider will post earnings per share of $0.01 for the quarter, up from their prior estimate of ($0.09). KeyCorp also issued estimates for BioLife Solutions’ Q3 2022 earnings at $0.03 EPS, Q4 2022 earnings at $0.05 EPS and FY2022 earnings at ($0.09) EPS.

A number of other equities research analysts have also issued reports on BLFS. StockNews.com upgraded shares of BioLife Solutions to a “sell” rating in a report on Friday, March 25th. Oppenheimer upgraded shares of BioLife Solutions from a “market perform” rating to an “outperform” rating in a report on Monday, April 25th. B. Riley cut their price target on shares of BioLife Solutions from $67.00 to $48.00 in a report on Wednesday, March 2nd. Cowen cut their price target on shares of BioLife Solutions from $50.00 to $32.00 in a report on Tuesday. Finally, Zacks Investment Research upgraded shares of BioLife Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $45.86.

BLFS stock opened at $12.42 on Thursday. BioLife Solutions has a 52-week low of $10.40 and a 52-week high of $60.67. The company’s 50 day simple moving average is $18.37 and its 200-day simple moving average is $29.48. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.39 and a quick ratio of 2.41. The firm has a market capitalization of $522.82 million, a P/E ratio of -35.48 and a beta of 2.01.

BioLife Solutions (NASDAQ:BLFS – Get Rating) last released its earnings results on Monday, May 9th. The medical equipment provider reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.06). BioLife Solutions had a negative net margin of 10.35% and a negative return on equity of 6.24%. During the same quarter last year, the business earned $0.01 EPS.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Meros Investment Management LP boosted its holdings in shares of BioLife Solutions by 90.2% during the 1st quarter. Meros Investment Management LP now owns 48,504 shares of the medical equipment provider’s stock worth $1,102,000 after buying an additional 23,009 shares during the period. Renaissance Technologies LLC bought a new stake in shares of BioLife Solutions during the 1st quarter worth $627,000. Ancora Advisors LLC bought a new stake in shares of BioLife Solutions during the 1st quarter worth $90,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of BioLife Solutions by 4.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 172,272 shares of the medical equipment provider’s stock worth $3,916,000 after buying an additional 6,628 shares during the period. Finally, Lazard Asset Management LLC bought a new stake in shares of BioLife Solutions during the 1st quarter worth $45,000. 83.48% of the stock is owned by institutional investors and hedge funds.

In other news, CEO Michael Rice sold 10,000 shares of the stock in a transaction on Monday, March 7th. The shares were sold at an average price of $23.80, for a total transaction of $238,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Greef Roderick De sold 10,713 shares of the stock in a transaction on Thursday, April 7th. The stock was sold at an average price of $21.82, for a total transaction of $233,757.66. Following the transaction, the chief operating officer now owns 104,464 shares in the company, valued at approximately $2,279,404.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 149,369 shares of company stock worth $2,858,991. 5.90% of the stock is currently owned by company insiders.

About BioLife Solutions (Get Rating)

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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