Lifecore Biomedical (NASDAQ:LFCR) Trading Up 3.8% – Still a Buy?

Lifecore Biomedical, Inc. (NASDAQ:LFCR) rose 3.8% on Thursday . The stock traded as high as $5.96 and last traded at $5.94. Approximately 97,498 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 242,917 shares. The stock had previously closed at $5.72.

Analyst Upgrades and Downgrades

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

Lifecore Biomedical Stock Performance

The company has a debt-to-equity ratio of 9.21, a quick ratio of 1.21 and a current ratio of 2.32. The stock has a market cap of $225.51 million, a PE ratio of -10.88 and a beta of 0.96. The company’s 50 day simple moving average is $6.62 and its 200 day simple moving average is $5.99.

Lifecore Biomedical (NASDAQ:LFCR) last posted its quarterly earnings data on Thursday, January 2nd. The company reported ($0.25) EPS for the quarter, beating the consensus estimate 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%. Analysts expect that Lifecore Biomedical, Inc. will post -0.91 earnings per share for the current year.

Insider Transactions at Lifecore Biomedical

In related news, CEO Paul Josephs purchased 17,000 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The stock was bought at an average price of $5.74 per share, for a total transaction of $97,580.00. Following the purchase, the chief executive officer now directly owns 559,717 shares in the company, valued at approximately $3,212,775.58. This trade represents a 3.13 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 28.21% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lifecore Biomedical

Large investors have recently modified their holdings of the stock. Creative Planning purchased a new position in Lifecore Biomedical in the 3rd quarter valued at approximately $69,000. Wittenberg Investment Management Inc. grew its stake in Lifecore Biomedical by 287.8% in the 3rd quarter. Wittenberg Investment Management Inc. now owns 57,896 shares of the company’s stock valued at $285,000 after buying an additional 42,967 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Lifecore Biomedical by 2,640.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 54,399 shares of the company’s stock valued at $268,000 after buying an additional 52,414 shares in the last quarter. 272 Capital LP grew its stake in Lifecore Biomedical by 85.2% in the 3rd quarter. 272 Capital LP now owns 43,476 shares of the company’s stock valued at $214,000 after buying an additional 19,998 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Lifecore Biomedical in the 3rd quarter valued at approximately $207,000. Hedge funds and other institutional investors own 83.36% of the company’s stock.

About Lifecore Biomedical

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.