Lifecore Biomedical, Inc. (NASDAQ:LFCR) CEO Paul Josephs Acquires 17,000 Shares

Lifecore Biomedical, Inc. (NASDAQ:LFCR) CEO Paul Josephs purchased 17,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were acquired at an average cost of $5.74 per share, with a total value of $97,580.00. Following the completion of the purchase, the chief executive officer now directly owns 559,717 shares in the company, valued at $3,212,775.58. The trade was a 3.13 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Lifecore Biomedical Stock Down 1.9 %

Shares of NASDAQ LFCR opened at $5.80 on Thursday. Lifecore Biomedical, Inc. has a 52-week low of $3.68 and a 52-week high of $8.90. The firm has a market capitalization of $213.60 million, a price-to-earnings ratio of 72.50 and a beta of 0.98. The stock has a 50 day moving average price of $7.05 and a 200 day moving average price of $5.82. The company has a debt-to-equity ratio of 12.90, a quick ratio of 0.80 and a current ratio of 1.83.

Lifecore Biomedical (NASDAQ:LFCR) last issued its earnings results on Thursday, January 2nd. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.02. Lifecore Biomedical had a negative return on equity of 382.65% and a net margin of 5.09%. Sell-side analysts expect that Lifecore Biomedical, Inc. will post -0.99 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on LFCR. Stephens reiterated an “equal weight” rating and issued a $6.00 target price on shares of Lifecore Biomedical in a research note on Friday, January 3rd. Craig Hallum raised their price target on shares of Lifecore Biomedical from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd.

Institutional Trading of Lifecore Biomedical

A number of hedge funds have recently added to or reduced their stakes in the business. State Street Corp raised its holdings in shares of Lifecore Biomedical by 10.2% in the 3rd quarter. State Street Corp now owns 334,360 shares of the company’s stock valued at $1,648,000 after purchasing an additional 30,916 shares in the last quarter. Marshall Wace LLP increased its holdings in Lifecore Biomedical by 87.3% during the second quarter. Marshall Wace LLP now owns 300,120 shares of the company’s stock valued at $1,540,000 after buying an additional 139,887 shares during the period. BNP Paribas Financial Markets raised its stake in Lifecore Biomedical by 2,640.5% in the third quarter. BNP Paribas Financial Markets now owns 54,399 shares of the company’s stock worth $268,000 after buying an additional 52,414 shares in the last quarter. Barclays PLC raised its stake in Lifecore Biomedical by 301.7% in the third quarter. Barclays PLC now owns 29,944 shares of the company’s stock worth $147,000 after buying an additional 22,489 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in Lifecore Biomedical by 1,668.5% during the second quarter. Rhumbline Advisers now owns 26,899 shares of the company’s stock worth $138,000 after buying an additional 25,378 shares during the period. 83.36% of the stock is owned by hedge funds and other institutional investors.

Lifecore Biomedical Company Profile

Lifecore Biomedical, Inc, together with its subsidiaries, operates as an integrated contract development and manufacturing organization in the United States and internationally. The company engages in the manufacturing of pharmaceutical-grade sodium hyaluronate (HA) in bulk form, as well as formulated and filled syringes and vials for injectable products used in treating a range of medical conditions and procedures.