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Todd Berard, Chief Marketing Officer at BioLife Solutions Inc. (NASDAQ:BLFS), recently sold 324 shares of the company’s common stock, according to a Form 4 filing with the Securities and Exchange Commission. The shares were sold at a price of $20.11 each, resulting in a total transaction value of $6,515. Following the sale, Berard retains ownership of 135,632 shares in the company. The transaction occurred as the stock, currently trading at $21.88, appears slightly overvalued according to InvestingPro analysis. The company, with a market capitalization of $1.03 billion, maintains strong liquidity with a current ratio of 4.54x.
The transaction was conducted under a Rule 10b5-1 trading plan, which Berard adopted to cover tax withholding obligations related to the vesting of restricted stock. This type of trading plan allows company insiders to set up a predetermined schedule for selling company shares, helping to avoid potential accusations of insider trading. InvestingPro data shows the stock has been volatile recently, with a beta of 1.93, while maintaining moderate debt levels and strong financial health. Get access to 8 more exclusive ProTips and comprehensive insider trading analysis with InvestingPro.
In other recent news, BioLife Solutions reported impressive financial results for the fourth quarter of 2024, with revenue reaching $22.7 million, surpassing analyst estimates of $21.3 million. The company posted a net loss of $2.0 million, which was smaller than the projected loss of $4.4 million, and announced a full-year revenue of $82.3 million, excluding discontinued operations. BioLife’s Cell Processing segment saw a 37% year-over-year growth, marking its fifth consecutive quarter of revenue increase. Analysts at H.C. Wainwright raised the company’s price target to $30, maintaining a "Buy" rating, while Benchmark also reiterated a Buy rating with the same price target. KeyBanc Capital Markets maintained an Overweight rating with a $33 target, highlighting the company’s strong market position and potential for revenue growth through its Sexton portfolio. The company has completed the sale of non-core assets to focus on its core bio preservation media business, which accounts for 90% of its revenue. Looking ahead to 2025, BioLife expects total revenue to grow by 16-20%, with Cell Processing revenue anticipated to increase by 18-21%. BioLife’s biopreservation media is currently incorporated into 17 approved cell and gene therapies, with expectations for further approvals and expansions in the coming year.
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