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

Lifecore Biomedical, Inc. (NASDAQ:LFCR) CEO Paul Josephs acquired 17,000 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was purchased at an average cost of $5.74 per share, for a total transaction of $97,580.00. Following the transaction, the chief executive officer now owns 559,717 shares in the company, valued at approximately $3,212,775.58. The trade was a 3.13 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Lifecore Biomedical Stock Performance

Shares of Lifecore Biomedical stock traded down $0.11 during midday trading on Wednesday, hitting $5.80. The company had a trading volume of 374,903 shares, compared to its average volume of 656,841. The company has a fifty day simple moving average of $7.05 and a 200 day simple moving average of $5.82. The stock has a market cap of $213.60 million, a price-to-earnings ratio of 72.50 and a beta of 0.98. The company has a quick ratio of 0.80, a current ratio of 1.83 and a debt-to-equity ratio of 12.90. Lifecore Biomedical, Inc. has a 12-month low of $3.68 and a 12-month high of $8.90.

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

Analyst Ratings Changes

Several equities research analysts have weighed in on LFCR shares. Craig Hallum raised their target price on shares of Lifecore Biomedical from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Stephens reissued an “equal weight” rating and issued a $6.00 price objective on shares of Lifecore Biomedical in a research report on Friday, January 3rd.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of LFCR. Renaissance Technologies LLC purchased a new stake in Lifecore Biomedical in the second quarter valued at approximately $56,000. Creative Planning purchased a new stake in shares of Lifecore Biomedical in the 3rd quarter valued at $69,000. Public Employees Retirement System of Ohio purchased a new position in shares of Lifecore Biomedical during the third quarter worth $119,000. Rhumbline Advisers boosted its holdings in Lifecore Biomedical by 1,668.5% in the second quarter. Rhumbline Advisers now owns 26,899 shares of the company’s stock valued at $138,000 after purchasing an additional 25,378 shares during the last quarter. Finally, Barclays PLC grew its position in Lifecore Biomedical by 301.7% during the 3rd quarter. Barclays PLC now owns 29,944 shares of the company’s stock worth $147,000 after purchasing an additional 22,489 shares during the period. 83.36% of the stock is owned by institutional investors and hedge funds.

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.