Victory Capital Management Inc. Boosts Holdings in BioLife Solutions, Inc. (NASDAQ:BLFS)

Victory Capital Management Inc. raised its holdings in BioLife Solutions, Inc. (NASDAQ:BLFS) by 422.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 218,962 shares of the medical equipment provider’s stock after purchasing an additional 177,028 shares during the period. Victory Capital Management Inc. owned 0.47% of BioLife Solutions worth $5,684,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Rockefeller Capital Management L.P. boosted its position in shares of BioLife Solutions by 81.3% in the third quarter. Rockefeller Capital Management L.P. now owns 585,497 shares of the medical equipment provider’s stock worth $14,661,000 after acquiring an additional 262,504 shares during the last quarter. Mutual of America Capital Management LLC grew its position in shares of BioLife Solutions by 31.2% during the fourth quarter. Mutual of America Capital Management LLC now owns 521,937 shares of the medical equipment provider’s stock worth $13,549,000 after buying an additional 124,165 shares in the last quarter. State Street Corp lifted its position in shares of BioLife Solutions by 7.3% during the third quarter. State Street Corp now owns 1,412,316 shares of the medical equipment provider’s stock worth $35,364,000 after purchasing an additional 95,788 shares during the last quarter. Stephens Investment Management Group LLC increased its holdings in shares of BioLife Solutions by 16.7% in the 4th quarter. Stephens Investment Management Group LLC now owns 495,970 shares of the medical equipment provider’s stock valued at $12,875,000 after acquiring an additional 70,875 shares during the last quarter. Finally, Peregrine Capital Management LLC raised its holdings in shares of BioLife Solutions by 18.1% during the fourth quarter. Peregrine Capital Management LLC now owns 352,205 shares of the medical equipment provider’s stock worth $9,143,000 after purchasing an additional 54,100 shares during the period. Hedge funds and other institutional investors own 93.24% of the company’s stock.

BioLife Solutions Trading Down 0.2 %

Shares of NASDAQ:BLFS opened at $25.00 on Friday. BioLife Solutions, Inc. has a 1 year low of $14.84 and a 1 year high of $29.55. The company has a current ratio of 2.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The firm has a fifty day moving average price of $26.59 and a 200 day moving average price of $25.49. The stock has a market capitalization of $1.18 billion, a PE ratio of -23.58 and a beta of 2.04.

BioLife Solutions (NASDAQ:BLFS) last issued its quarterly earnings results on Monday, March 3rd. The medical equipment provider reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.32. The company had revenue of $22.71 million during the quarter, compared to analyst estimates of $21.73 million. BioLife Solutions had a negative return on equity of 6.61% and a negative net margin of 38.98%. During the same period in the previous year, the company earned ($0.21) earnings per share. Analysts expect that BioLife Solutions, Inc. will post -0.3 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Troy Wichterman sold 987 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $27.02, for a total value of $26,668.74. Following the sale, the chief financial officer now owns 121,779 shares of the company’s stock, valued at approximately $3,290,468.58. This represents a 0.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Aby J. Mathew sold 1,597 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $25.00, for a total value of $39,925.00. Following the completion of the transaction, the executive vice president now directly owns 260,601 shares in the company, valued at $6,515,025. The trade was a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,394 shares of company stock worth $533,124. 2.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

BLFS has been the topic of several recent research reports. Benchmark reissued a “buy” rating and issued a $30.00 price target on shares of BioLife Solutions in a report on Thursday, December 19th. Northland Securities raised their target price on BioLife Solutions from $28.00 to $31.00 and gave the company an “outperform” rating in a research note on Wednesday, January 8th. KeyCorp upped their price target on BioLife Solutions from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, HC Wainwright upped their price target on shares of BioLife Solutions from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.86.

BioLife Solutions Profile

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.