On September 20, 2023, it was reported that Macquarie Group Ltd. has increased its holdings in BioLife Solutions, Inc. by 22.7% in the first quarter. This information was disclosed in the company’s recent Form 13F filing with the Securities and Exchange Commission (SEC). Macquarie Group Ltd. now owns a total of 68,317 shares of BioLife Solutions’ stock after purchasing an additional 12,644 shares during the period.
At the end of the most recent quarter, Macquarie Group Ltd.’s stake in BioLife Solutions was valued at approximately $1,486,000. This amounted to 0.16% ownership of the medical equipment provider’s stock.
BioLife Solutions (NASDAQ:BLFS) recently released its earnings results on August 8th. In that report, the company announced a negative earnings per share (EPS) of ($0.24) for the quarter. This missed the consensus estimate of ($0.02) by a significant margin of ($0.22).
Furthermore, BioLife Solutions experienced a negative return on equity (ROE) of 9.87% and a negative net margin of 51.20%. The company generated $39.51 million in revenue for the quarter which fell short of analyst estimates of $43.93 million.
Based on analysis from research analysts, it is projected that BioLife Solutions will post -1.02 EPS for the current fiscal year.
Investors and market watchers will undoubtedly be monitoring these developments closely as they assess their positions and evaluate potential investment opportunities.
It is important to keep in mind that investing in stocks involves risks and individuals should exercise caution when making financial decisions based on this information alone.
This article serves as a brief update on recent activities surrounding BioLife Solutions and highlights key figures from their earnings report for reference purposes only.
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Shareholder Modifications and Analyst Recommendations Impacting BioLife Solutions
As of the first quarter, several institutional investors and hedge funds have made changes to their holdings in BioLife Solutions, a medical equipment provider. JPMorgan Chase & Co., for instance, increased its stake in the company by 0.3%, which translates to owning 405,268 shares worth $8,815,000. New York State Common Retirement Fund also raised its stake by 2.5%, now owning 362,462 shares valued at $7,884,000. Thrivent Financial for Lutherans saw a 2.1% increase in its stake and currently owns 350,047 shares worth $7,614,000. Meros Investment Management LP followed with a 4% raise in its stake and presently holds 224,768 shares valued at $4,889,000. State Street Corp had a modest increase of 3.7%, resulting in ownership of 1,096,227 shares worth $23,843,000.
These shareholder modifications come at an interesting time as brokerages have issued reports on BioLife Solutions with various recommendations. Craig Hallum lowered the price objective from $29 to $23 but maintained a “buy” rating for the company. StockNews.com upgraded the stock to a “sell” rating while TD Cowen decreased their price objective from $29 to $25 but still held an “outperform” rating for BioLife Solutions. Lake Street Capital also decreased their price objective from $34 to $25 but continued to rate the company as a “buy.” Finally, Stephens reduced their price objective even further from $29 to $22.
Major shareholder Casdin Partners Master Fund has been actively involved in the company’s activities and recently purchased 58,465 shares of BioLife Solutions’ stock at an average cost of $13.20 per share totaling around $771,738. Following this transaction disclosure filing with the SEC is necessary. Additionally significant news includes EVP Aby J. Mathew selling 10,000 shares of company stock at an average price of $23.32, amounting to a total transaction value of $233,200. Currently, insiders have sold 29,491 shares valued at around $591,650.
As for market performance, shares of BioLife Solutions opened at $12.84 with a 12-month low of $10.48 and a high of $26.89. The company’s fifty-day simple moving average is currently at $15.43 while the 200-day simple moving average stands at $19.16. With a market capitalization of $558.41 million, the stock has a negative price-to-earnings ratio (-6.65) and a beta of 1.65. BioLife Solutions maintains a current ratio of 3.04 and a quick ratio of 2.05 with a debt-to-equity ratio of 0.07.
In conclusion, BioLife Solutions continues to attract institutional investors and hedge funds who are making changes to their holdings in the company based on recent performance indicators and analyst reports from various brokerages recommending different courses of action for potential investors to consider.
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