Equities analysts expect BioLife Solutions Inc (NASDAQ:BLFS) to announce $5.20 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for BioLife Solutions’ earnings, with the highest sales estimate coming in at $5.36 million and the lowest estimate coming in at $5.00 million. BioLife Solutions posted sales of $2.96 million during the same quarter last year, which suggests a positive year over year growth rate of 75.7%. The business is expected to announce its next quarterly earnings report on Thursday, November 8th.
On average, analysts expect that BioLife Solutions will report full year sales of $19.63 million for the current financial year, with estimates ranging from $19.10 million to $19.92 million. For the next fiscal year, analysts expect that the business will post sales of $27.68 million per share, with estimates ranging from $26.00 million to $30.25 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for BioLife Solutions.
BioLife Solutions (NASDAQ:BLFS) last announced its quarterly earnings results on Thursday, August 9th. The medical equipment provider reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.01. BioLife Solutions had a return on equity of 2.86% and a net margin of 1.76%. The company had revenue of $5.18 million during the quarter, compared to the consensus estimate of $5.20 million.
In related news, Director Andrew G. Hinson sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 13th. The stock was sold at an average price of $11.25, for a total transaction of $112,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Rice sold 12,540 shares of the business’s stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $8.65, for a total value of $108,471.00. Following the sale, the chief executive officer now owns 152,057 shares of the company’s stock, valued at $1,315,293.05. The disclosure for this sale can be found here. Insiders have sold 599,478 shares of company stock valued at $6,925,968 over the last quarter. 38.50% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Perkins Capital Management Inc. grew its holdings in BioLife Solutions by 473.8% in the 2nd quarter. Perkins Capital Management Inc. now owns 157,800 shares of the medical equipment provider’s stock valued at $1,800,000 after buying an additional 130,300 shares in the last quarter. EAM Global Investors LLC acquired a new position in shares of BioLife Solutions in the 2nd quarter valued at $1,294,000. Kovack Advisors Inc. acquired a new position in shares of BioLife Solutions in the 2nd quarter valued at $126,000. Essex Investment Management Co. LLC lifted its stake in shares of BioLife Solutions by 29.4% in the 2nd quarter. Essex Investment Management Co. LLC now owns 295,728 shares of the medical equipment provider’s stock valued at $3,374,000 after purchasing an additional 67,182 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of BioLife Solutions by 901.6% in the 4th quarter. Millennium Management LLC now owns 182,550 shares of the medical equipment provider’s stock valued at $1,095,000 after purchasing an additional 164,324 shares during the last quarter. Hedge funds and other institutional investors own 13.39% of the company’s stock.
BioLife Solutions traded down $0.14, reaching $19.72, during trading hours on Tuesday, Marketbeat reports. The company had a trading volume of 304,568 shares, compared to its average volume of 350,231. BioLife Solutions has a 1-year low of $3.60 and a 1-year high of $22.86. The company has a market capitalization of $280.93 million, a PE ratio of -93.90 and a beta of 0.64.
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.
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