What is Northland Capmk’s Forecast for BLFS FY2024 Earnings?

BioLife Solutions, Inc. (NASDAQ:BLFS) – Equities research analysts at Northland Capmk increased their FY2024 earnings per share estimates for shares of BioLife Solutions in a research report issued to clients and investors on Wednesday, November 13th. Northland Capmk analyst C. Byrnes now forecasts that the medical equipment provider will earn ($0.28) per share for the year, up from their prior estimate of ($0.47). The consensus estimate for BioLife Solutions’ current full-year earnings is ($0.29) per share. Northland Capmk also issued estimates for BioLife Solutions’ Q4 2024 earnings at ($0.01) EPS and FY2025 earnings at ($0.15) EPS.

Other equities analysts have also recently issued research reports about the company. TD Cowen increased their target price on BioLife Solutions from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. HC Wainwright decreased their price objective on BioLife Solutions from $29.00 to $27.00 and set a “buy” rating for the company in a report on Monday. Northland Securities raised their price objective on BioLife Solutions from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Finally, Craig Hallum raised their price objective on BioLife Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $27.50.

BioLife Solutions Price Performance

BLFS stock opened at $22.44 on Monday. The stock has a 50-day moving average price of $23.92 and a two-hundred day moving average price of $22.87. The stock has a market cap of $1.04 billion, a PE ratio of -21.17 and a beta of 1.88. The company has a current ratio of 2.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. BioLife Solutions has a 1 year low of $11.91 and a 1 year high of $28.88.

Institutional Investors Weigh In On BioLife Solutions

Several hedge funds have recently bought and sold shares of BLFS. Mutual of America Capital Management LLC acquired a new stake in BioLife Solutions during the second quarter worth approximately $8,592,000. Vanguard Group Inc. lifted its position 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 during the last quarter. Rockefeller Capital Management L.P. lifted its position in BioLife Solutions by 81.3% during 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. Raymond James & Associates acquired a new stake in BioLife Solutions during the second quarter worth approximately $2,876,000. Finally, State Street Corp lifted its position in 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 acquiring an additional 95,788 shares during the last quarter. 93.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at BioLife Solutions

In related news, CRO Garrie Richardson sold 3,070 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $25.12, for a total value of $77,118.40. Following the completion of the sale, the executive now directly owns 114,773 shares in the company, valued at approximately $2,883,097.76. This trade represents a 2.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Aby J. Mathew sold 10,000 shares of the firm’s 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 sale, the executive vice president now owns 317,716 shares of the company’s stock, valued at $7,593,412.40. This trade represents a 3.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,644 shares of company stock worth $1,527,503. Insiders own 2.20% of the company’s stock.

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.