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

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

Analyst Ratings Changes

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

Lifecore Biomedical Stock Performance

The company has a debt-to-equity ratio of 9.21, a current ratio of 2.32 and a quick ratio of 1.21. The firm has a fifty day simple moving average of $6.17 and a 200 day simple moving average of $6.02. The company has a market cap of $228.81 million, a price-to-earnings ratio of -11.04 and a beta of 0.96.

Lifecore Biomedical (NASDAQ:LFCR) last posted its quarterly earnings data on Thursday, January 2nd. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.02. Lifecore Biomedical had a negative return on equity of 315.23% and a negative net margin of 12.52%. On average, sell-side analysts expect that Lifecore Biomedical, Inc. will post -0.91 earnings per share for the current fiscal year.

Insider Activity

In other Lifecore Biomedical news, CEO Paul Josephs acquired 17,000 shares of Lifecore Biomedical stock in a transaction dated Wednesday, January 8th. The stock was bought 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 owns 559,717 shares of the company’s stock, valued at $3,212,775.58. The trade was a 3.13 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 32.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lifecore Biomedical

Hedge funds have recently modified their holdings of the business. Creative Planning bought a new position in Lifecore Biomedical in the third quarter worth $69,000. Wittenberg Investment Management Inc. lifted its position in Lifecore Biomedical by 287.8% in the third quarter. Wittenberg Investment Management Inc. now owns 57,896 shares of the company’s stock worth $285,000 after purchasing an additional 42,967 shares during the period. BNP Paribas Financial Markets lifted its position 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 purchasing an additional 52,414 shares during the period. 272 Capital LP lifted its position in Lifecore Biomedical by 85.2% in the third quarter. 272 Capital LP now owns 43,476 shares of the company’s stock worth $214,000 after purchasing an additional 19,998 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new position in Lifecore Biomedical in the third quarter worth $207,000. 83.36% of the stock is owned by 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.