BNP Paribas Financial Markets Sells 39,433 Shares of Lifecore Biomedical, Inc. (NASDAQ:LFCR)

BNP Paribas Financial Markets cut its holdings in shares of Lifecore Biomedical, Inc. (NASDAQ:LFCR - Free Report) by 72.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,966 shares of the company's stock after selling 39,433 shares during the quarter. BNP Paribas Financial Markets' holdings in Lifecore Biomedical were worth $111,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in LFCR. Northern Trust Corp grew its position in shares of Lifecore Biomedical by 14.5% in the fourth quarter. Northern Trust Corp now owns 221,498 shares of the company's stock valued at $1,646,000 after purchasing an additional 28,019 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in Lifecore Biomedical by 61.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 27,184 shares of the company's stock worth $202,000 after purchasing an additional 10,320 shares during the period. Bank of New York Mellon Corp grew its holdings in Lifecore Biomedical by 71.9% during the 4th quarter. Bank of New York Mellon Corp now owns 80,572 shares of the company's stock valued at $599,000 after buying an additional 33,690 shares in the last quarter. Barclays PLC grew its holdings in Lifecore Biomedical by 13.5% during the 4th quarter. Barclays PLC now owns 33,972 shares of the company's stock valued at $253,000 after buying an additional 4,028 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Lifecore Biomedical by 125.9% during the fourth quarter. Rhumbline Advisers now owns 55,723 shares of the company's stock valued at $414,000 after buying an additional 31,056 shares during the period. 83.36% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, major shareholder Aron R. English sold 1,139,504 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $6.50, for a total transaction of $7,406,776.00. Following the completion of the transaction, the insider now owns 414,599 shares of the company's stock, valued at approximately $2,694,893.50. The trade was a 73.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 1,485,182 shares of company stock worth $9,824,031 in the last ninety days. 32.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, William Blair assumed coverage on shares of Lifecore Biomedical in a research report on Wednesday, May 21st. They issued an "outperform" rating for the company.

Lifecore Biomedical Price Performance

NASDAQ:LFCR traded up $0.01 during trading hours on Wednesday, hitting $6.88. The stock had a trading volume of 109,093 shares, compared to its average volume of 241,053. The company has a 50 day simple moving average of $6.52 and a two-hundred day simple moving average of $6.57. The firm has a market capitalization of $254.73 million, a price-to-earnings ratio of -12.29 and a beta of 0.65. The company has a debt-to-equity ratio of 9.21, a current ratio of 2.32 and a quick ratio of 1.21. Lifecore Biomedical, Inc. has a one year low of $3.68 and a one year high of $7.99.

Lifecore Biomedical (NASDAQ:LFCR - Get Free Report) last issued its quarterly earnings data on Thursday, April 3rd. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.05). The business had revenue of $35.15 million during the quarter, compared to analysts' expectations of $33.23 million. Lifecore Biomedical had a negative return on equity of 315.23% and a negative net margin of 12.52%. Research analysts forecast that Lifecore Biomedical, Inc. will post -0.91 earnings per share for the current fiscal year.

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.