Lifecore Biomedical (NASDAQ:LFCR) Stock Price Up 0.5% – Time to Buy?

Lifecore Biomedical, Inc. (NASDAQ:LFCR) rose 0.5% on Friday . The company traded as high as $6.22 and last traded at $6.18. Approximately 167,529 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 224,004 shares. The stock had previously closed at $6.15.

Analysts Set New Price Targets

LFCR has been the subject of a number of research analyst reports. Stephens reissued an “equal weight” rating and issued a $6.00 price target on shares of Lifecore Biomedical in a report on Friday, January 3rd. Craig Hallum upped their price target on shares of Lifecore Biomedical from $8.00 to $10.00 and gave the company a “buy” rating in a report on Friday, November 22nd.

Lifecore Biomedical Stock Up 0.5 %

The company has a quick ratio of 1.21, a current ratio of 2.32 and a debt-to-equity ratio of 9.21. The company has a market capitalization of $228.81 million, a PE ratio of -11.04 and a beta of 0.96. The business’s 50 day simple moving average is $6.17 and its 200 day simple moving average is $6.02.

Lifecore Biomedical (NASDAQ:LFCR) last posted its quarterly earnings data on Thursday, January 2nd. The company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.02. Lifecore Biomedical had a negative net margin of 12.52% and a negative return on equity of 315.23%. As a group, analysts forecast that Lifecore Biomedical, Inc. will post -0.91 EPS for the current year.

Insider Buying and Selling at Lifecore Biomedical

In related news, CEO Paul Josephs purchased 17,000 shares of Lifecore Biomedical stock in a transaction dated Wednesday, January 8th. The stock was acquired at an average cost of $5.74 per share, with a total value of $97,580.00. Following the completion of the transaction, the chief executive officer now directly owns 559,717 shares of the company’s stock, valued at $3,212,775.58. This trade represents a 3.13 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 32.20% of the company’s stock.

Institutional Trading of Lifecore Biomedical

A number of hedge funds have recently made changes to their positions in LFCR. Creative Planning acquired a new position in Lifecore Biomedical in the third quarter worth approximately $69,000. ARS Investment Partners LLC acquired a new position in Lifecore Biomedical in the fourth quarter worth approximately $74,000. Prudential Financial Inc. acquired a new position in Lifecore Biomedical in the fourth quarter worth approximately $95,000. Wells Fargo & Company MN increased its holdings in Lifecore Biomedical by 29.0% in the fourth quarter. Wells Fargo & Company MN now owns 13,381 shares of the company’s stock worth $99,000 after buying an additional 3,012 shares during the last quarter. Finally, MetLife Investment Management LLC acquired a new position in Lifecore Biomedical in the fourth quarter worth approximately $108,000. 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.