Oppenheimer Asset Management Inc. Acquires 15,252 Shares of BioLife Solutions, Inc. (NASDAQ:BLFS)

Oppenheimer Asset Management Inc. increased its holdings in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) by 84.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,296 shares of the medical equipment provider’s stock after purchasing an additional 15,252 shares during the period. Oppenheimer Asset Management Inc. owned approximately 0.07% of BioLife Solutions worth $714,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its position in shares of BioLife Solutions by 1,038.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,401,899 shares of the medical equipment provider’s stock worth $39,031,000 after buying an additional 2,191,002 shares during the period. Vanguard Group Inc. boosted its stake in BioLife Solutions by 11.5% during the first quarter. Vanguard Group Inc. now owns 2,868,335 shares of the medical equipment provider’s stock worth $53,208,000 after acquiring an additional 296,727 shares in the last quarter. Granahan Investment Management LLC grew its holdings in BioLife Solutions by 22.8% in the fourth quarter. Granahan Investment Management LLC now owns 1,292,675 shares of the medical equipment provider’s stock worth $21,006,000 after purchasing an additional 240,001 shares during the period. Raymond James & Associates bought a new stake in BioLife Solutions in the second quarter valued at $2,876,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of BioLife Solutions by 161,879.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 131,203 shares of the medical equipment provider’s stock valued at $2,434,000 after purchasing an additional 131,122 shares during the period. 93.24% of the stock is currently owned by institutional investors.

BioLife Solutions Stock Up 0.2 %

BLFS stock opened at $25.77 on Friday. The firm has a market capitalization of $1.19 billion, a PE ratio of -18.15 and a beta of 1.87. The company has a quick ratio of 1.81, a current ratio of 2.86 and a debt-to-equity ratio of 0.04. BioLife Solutions, Inc. has a twelve month low of $8.92 and a twelve month high of $26.73. The stock’s 50 day moving average is $24.17 and its 200-day moving average is $20.91.

BioLife Solutions (NASDAQ:BLFS) last issued its quarterly earnings data on Thursday, August 8th. The medical equipment provider reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.08. BioLife Solutions had a negative return on equity of 10.75% and a negative net margin of 59.88%. The business had revenue of $28.33 million for the quarter, compared to analysts’ expectations of $23.80 million. Sell-side analysts expect that BioLife Solutions, Inc. will post -0.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other BioLife Solutions news, insider Sarah Aebersold sold 3,000 shares of BioLife Solutions stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $21.03, for a total transaction of $63,090.00. Following the transaction, the insider now owns 61,683 shares of the company’s stock, valued at approximately $1,297,193.49. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Aby J. Mathew sold 10,000 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $23.90, for a total transaction of $239,000.00. Following the completion of the transaction, the executive vice president now owns 317,716 shares in the company, valued at $7,593,412.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Sarah Aebersold sold 3,000 shares of BioLife Solutions stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $21.03, for a total transaction of $63,090.00. Following the completion of the sale, the insider now directly owns 61,683 shares in the company, valued at approximately $1,297,193.49. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,944 shares of company stock valued at $468,709. Corporate insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on BLFS shares. TD Cowen boosted their target price on BioLife Solutions from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Craig Hallum upped their target price on BioLife Solutions from $23.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, Northland Securities lifted their price target on shares of BioLife Solutions from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $26.20.

About BioLife Solutions

BioLife Solutions, Inc develops, manufactures, and markets bioproduction tools and services for the cell and gene therapy (CGT) industry in the United States, 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.