Lifecore Biomedical, Inc. (NASDAQ:LFCR) Major Shareholder Aron R. English Sells 150,419 Shares

Lifecore Biomedical, Inc. (NASDAQ:LFCR - Get Free Report) major shareholder Aron R. English sold 150,419 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $7.12, for a total value of $1,070,983.28. Following the completion of the sale, the insider now directly owns 264,180 shares of the company's stock, valued at approximately $1,880,961.60. The trade was a 36.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

Lifecore Biomedical Price Performance

Shares of NASDAQ LFCR traded down $0.24 during midday trading on Friday, reaching $6.61. 179,835 shares of the company were exchanged, compared to its average volume of 240,935. Lifecore Biomedical, Inc. has a one year low of $3.68 and a one year high of $7.99. The stock's 50-day moving average price is $6.52 and its 200-day moving average price is $6.57. 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 stock has a market cap of $244.74 million, a P/E ratio of -11.80 and a beta of 0.65.

Lifecore Biomedical (NASDAQ:LFCR - Get Free Report) last released its earnings results on Thursday, April 3rd. The company reported ($0.19) earnings per share for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.05). The firm had revenue of $35.15 million for the quarter, compared to analyst estimates of $33.23 million. Lifecore Biomedical had a negative net margin of 12.52% and a negative return on equity of 315.23%. On average, sell-side analysts anticipate that Lifecore Biomedical, Inc. will post -0.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, William Blair initiated coverage on Lifecore Biomedical in a report on Wednesday, May 21st. They set an "outperform" rating for the company.

Hedge Funds Weigh In On Lifecore Biomedical

Several institutional investors have recently made changes to their positions in the stock. Legion Partners Asset Management LLC raised its holdings in shares of Lifecore Biomedical by 49.3% during the fourth quarter. Legion Partners Asset Management LLC now owns 4,431,823 shares of the company's stock valued at $32,928,000 after purchasing an additional 1,463,414 shares during the period. Greenhaven Road Investment Management L.P. raised its holdings in shares of Lifecore Biomedical by 62.2% during the fourth quarter. Greenhaven Road Investment Management L.P. now owns 3,616,146 shares of the company's stock valued at $26,868,000 after purchasing an additional 1,387,362 shares during the period. 325 Capital LLC increased its position in shares of Lifecore Biomedical by 57.9% during the fourth quarter. 325 Capital LLC now owns 2,162,466 shares of the company's stock worth $16,067,000 after acquiring an additional 792,681 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Lifecore Biomedical by 14.7% during the fourth quarter. Geode Capital Management LLC now owns 685,746 shares of the company's stock worth $5,097,000 after acquiring an additional 88,061 shares in the last quarter. Finally, Invesco Ltd. bought a new stake in shares of Lifecore Biomedical during the fourth quarter worth about $4,128,000. Institutional investors and hedge funds 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.