Rhumbline Advisers Trims Stock Holdings in Lifecore Biomedical, Inc. (NASDAQ:LFCR)

Rhumbline Advisers lowered its stake in shares of Lifecore Biomedical, Inc. (NASDAQ:LFCR - Free Report) by 55.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,730 shares of the company's stock after selling 30,993 shares during the period. Rhumbline Advisers owned 0.07% of Lifecore Biomedical worth $174,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Legion Partners Asset Management LLC lifted its holdings in 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 worth $32,928,000 after buying an additional 1,463,414 shares during the period. Greenhaven Road Investment Management L.P. lifted its holdings in shares of Lifecore Biomedical by 62.2% during the 4th 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 last quarter. 325 Capital LLC lifted its holdings in shares of Lifecore Biomedical by 57.9% during the 4th quarter. 325 Capital LLC now owns 2,162,466 shares of the company's stock valued at $16,067,000 after purchasing an additional 792,681 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Lifecore Biomedical by 14.7% during the 4th quarter. Geode Capital Management LLC now owns 685,746 shares of the company's stock valued at $5,097,000 after purchasing an additional 88,061 shares during the last quarter. Finally, Invesco Ltd. purchased a new stake in shares of Lifecore Biomedical during the 4th quarter valued at $4,128,000. Hedge funds and other institutional investors own 83.36% of the company's stock.

Analysts Set New Price Targets

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

Lifecore Biomedical Stock Down 0.5%

Shares of LFCR traded down $0.04 during midday trading on Friday, hitting $8.19. 946,415 shares of the company's stock traded hands, compared to its average volume of 227,558. Lifecore Biomedical, Inc. has a 1 year low of $3.68 and a 1 year high of $8.63. The firm's fifty day moving average is $6.87 and its 200-day moving average is $6.54. The company has a current ratio of 2.71, a quick ratio of 1.59 and a debt-to-equity ratio of 66.36. The stock has a market capitalization of $303.28 million, a price-to-earnings ratio of -5.65 and a beta of 0.65.

Lifecore Biomedical (NASDAQ:LFCR - Get Free Report) last issued its quarterly earnings data on Thursday, April 3rd. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.05). Lifecore Biomedical had a negative net margin of 35.90% and a negative return on equity of 551.09%. The business had revenue of $35.15 million for the quarter, compared to analysts' expectations of $33.23 million. As a group, sell-side analysts anticipate that Lifecore Biomedical, Inc. will post -0.91 earnings per share for the current year.

Insider Activity at Lifecore Biomedical

In related news, major shareholder Aron R. English sold 150,419 shares of the firm's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $7.12, for a total value of $1,070,983.28. Following the completion of the transaction, the insider now owns 264,180 shares in the company, valued at $1,880,961.60. This trade represents a 36.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 1,485,182 shares of company stock valued at $9,824,031 in the last ninety days. Company insiders own 32.20% of the company's stock.

Lifecore Biomedical 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.