JPMorgan Chase & Co. Acquires 156,325 Shares of BioLife Solutions, Inc. (NASDAQ:BLFS)

JPMorgan Chase & Co. boosted its holdings in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) by 44.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 505,686 shares of the medical equipment provider’s stock after purchasing an additional 156,325 shares during the period. JPMorgan Chase & Co. owned about 1.25% of BioLife Solutions worth $22,508,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. lifted its stake in BioLife Solutions by 44.5% during the second quarter. BlackRock Inc. now owns 1,896,772 shares of the medical equipment provider’s stock worth $84,425,000 after purchasing an additional 583,954 shares during the period. Palisade Capital Management LLC NJ raised its stake in shares of BioLife Solutions by 25.5% in the second quarter. Palisade Capital Management LLC NJ now owns 475,684 shares of the medical equipment provider’s stock valued at $21,173,000 after acquiring an additional 96,573 shares during the last quarter. Millennium Management LLC raised its stake in shares of BioLife Solutions by 323.2% in the first quarter. Millennium Management LLC now owns 458,677 shares of the medical equipment provider’s stock valued at $16,512,000 after acquiring an additional 350,290 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of BioLife Solutions by 9.1% in the first quarter. Geode Capital Management LLC now owns 354,882 shares of the medical equipment provider’s stock valued at $12,775,000 after acquiring an additional 29,515 shares during the last quarter. Finally, Zweig DiMenna Associates LLC bought a new position in shares of BioLife Solutions in the second quarter valued at approximately $13,579,000. Hedge funds and other institutional investors own 68.31% of the company’s stock.

A number of research firms have recently issued reports on BLFS. Cowen lifted their target price on shares of BioLife Solutions from $50.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, August 13th. TheStreet upgraded shares of BioLife Solutions from a “d” rating to a “c” rating in a research note on Wednesday, September 1st. Northland Securities lifted their target price on shares of BioLife Solutions from $55.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, September 2nd. Zacks Investment Research raised shares of BioLife Solutions from a “strong sell” rating to a “hold” rating in a report on Wednesday. Finally, KeyCorp raised their price target on shares of BioLife Solutions from $50.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, August 13th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, BioLife Solutions has an average rating of “Buy” and a consensus target price of $59.13.

In other news, CEO Michael Rice sold 848 shares of the business’s stock in a transaction on Thursday, August 26th. The shares were sold at an average price of $57.26, for a total value of $48,556.48. Following the completion of the transaction, the chief executive officer now owns 265,462 shares of the company’s stock, valued at approximately $15,200,354.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph C. Schick sold 3,250 shares of the business’s stock in a transaction on Thursday, October 7th. The shares were sold at an average price of $40.04, for a total transaction of $130,130.00. The disclosure for this sale can be found here. Insiders have sold a total of 233,282 shares of company stock valued at $10,832,983 in the last ninety days. Company insiders own 5.90% of the company’s stock.

BLFS opened at $38.87 on Thursday. The company has a fifty day moving average price of $47.60 and a two-hundred day moving average price of $41.51. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.25 and a current ratio of 4.07. BioLife Solutions, Inc. has a 52 week low of $26.58 and a 52 week high of $60.67. The firm has a market capitalization of $1.58 billion, a PE ratio of 647.94, a P/E/G ratio of 91.16 and a beta of 1.42.

BioLife Solutions (NASDAQ:BLFS) last released its earnings results on Wednesday, August 11th. The medical equipment provider reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.15). BioLife Solutions had a negative return on equity of 0.07% and a net margin of 4.72%. The business had revenue of $31.20 million for the quarter, compared to analyst estimates of $28.32 million. Equities analysts forecast that BioLife Solutions, Inc. will post 0.06 EPS for the current year.

BioLife Solutions Company Profile

BioLife Solutions, Inc engages in the development, manufacture and marketing of bio preservation tools for cells and tissues. Its product offerings include proprietary hypothermic storage and cryopreservation freeze media products for cells, tissues, and organs, generic blood stem cell freezing and cell thawing media products and custom product formulation and custom packaging services.

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Institutional Ownership by Quarter for BioLife Solutions (NASDAQ:BLFS)

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