Rhumbline Advisers Reduces Position in Lifecore Biomedical, Inc. (NASDAQ:LFCR)

Rhumbline Advisers reduced its position in Lifecore Biomedical, Inc. (NASDAQ:LFCR - Free Report) by 55.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,730 shares of the company's stock after selling 30,993 shares during the quarter. Rhumbline Advisers owned 0.07% of Lifecore Biomedical worth $174,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in Lifecore Biomedical by 1,839.7% in the first quarter. GAMMA Investing LLC now owns 3,569 shares of the company's stock worth $25,000 after buying an additional 3,385 shares in the last quarter. Prudential Financial Inc. purchased a new position in shares of Lifecore Biomedical in the 4th quarter valued at $95,000. Wells Fargo & Company MN increased its holdings in shares of Lifecore Biomedical by 29.0% in the 4th quarter. Wells Fargo & Company MN now owns 13,381 shares of the company's stock valued at $99,000 after acquiring an additional 3,012 shares during the period. MetLife Investment Management LLC bought a new position in shares of Lifecore Biomedical in the 4th quarter worth $108,000. Finally, Lepercq Multi Asset Fund bought a new position in shares of Lifecore Biomedical in the 4th quarter worth $169,000. 83.36% of the stock is currently owned by institutional investors.

Lifecore Biomedical Stock Down 0.5%

Shares of Lifecore Biomedical stock traded down $0.05 on Friday, reaching $8.19. The stock had a trading volume of 16,509 shares, compared to its average volume of 234,583. The company has a quick ratio of 1.59, a current ratio of 2.71 and a debt-to-equity ratio of 66.36. The stock has a market capitalization of $303.09 million, a P/E ratio of -5.66 and a beta of 0.65. The company has a 50 day moving average price of $6.84 and a 200 day moving average price of $6.55. Lifecore Biomedical, Inc. has a 1 year low of $3.68 and a 1 year high of $8.63.

Lifecore Biomedical (NASDAQ:LFCR - Get Free Report) last announced its earnings results on Thursday, April 3rd. The company reported ($0.19) earnings per share 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 firm had revenue of $35.15 million during the quarter, compared to analyst estimates of $33.23 million. As a group, equities research analysts forecast that Lifecore Biomedical, Inc. will post -0.91 EPS for the current year.

Insider Activity

In related news, major shareholder Aron R. English sold 12,334 shares of the business's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $7.00, for a total transaction of $86,338.00. Following the transaction, the insider now directly owns 1,650,240 shares in the company, valued at $11,551,680. The trade was a 0.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders sold 1,485,182 shares of company stock worth $9,824,031. Insiders own 32.20% of the company's stock.

Analyst Ratings Changes

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