Insider Selling: Lifecore Biomedical, Inc. (NASDAQ:LFCR) Major Shareholder Sells 96,137 Shares of Stock

Lifecore Biomedical, Inc. (NASDAQ:LFCR - Get Free Report) major shareholder Aron R. English sold 96,137 shares of Lifecore Biomedical stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $6.75, for a total transaction of $648,924.75. Following the completion of the transaction, the insider now directly owns 1,554,103 shares in the company, valued at approximately $10,490,195.25. The trade was a 5.83% 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. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Lifecore Biomedical Trading Up 1.5%

Shares of NASDAQ LFCR traded up $0.10 during mid-day trading on Monday, hitting $6.87. The stock had a trading volume of 177,751 shares, compared to its average volume of 241,249. The company has a debt-to-equity ratio of 9.21, a quick ratio of 1.21 and a current ratio of 2.32. Lifecore Biomedical, Inc. has a 1 year low of $3.68 and a 1 year high of $7.99. The business has a 50 day moving average price of $6.52 and a two-hundred day moving average price of $6.57. The firm has a market cap of $254.36 million, a P/E ratio of -12.27 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) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.05). The company had revenue of $35.15 million for the quarter, compared to analysts' expectations 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, equities analysts anticipate that Lifecore Biomedical, Inc. will post -0.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in LFCR. Rhumbline Advisers increased its position in Lifecore Biomedical by 125.9% during the 4th quarter. Rhumbline Advisers now owns 55,723 shares of the company's stock valued at $414,000 after purchasing an additional 31,056 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of 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. Steward Partners Investment Advisory LLC boosted its holdings in shares of Lifecore Biomedical by 61.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 27,184 shares of the company's stock valued at $202,000 after buying an additional 10,320 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Lifecore Biomedical by 23.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,427 shares of the company's stock valued at $553,000 after buying an additional 13,922 shares in the last quarter. Finally, Lepercq Multi Asset Fund bought a new stake in shares of Lifecore Biomedical during the 4th quarter valued at $169,000. 83.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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