Lifecore Biomedical, Inc. (NASDAQ:LFCR) Major Shareholder Sells $7,406,776.00 in Stock

Lifecore Biomedical, Inc. (NASDAQ:LFCR - Get Free Report) major shareholder Aron R. English sold 1,139,504 shares of Lifecore Biomedical stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $6.50, for a total value 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. This trade represents a 73.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.

Lifecore Biomedical Trading Up 1.5%

LFCR traded up $0.10 during trading hours on Monday, reaching $6.87. 177,751 shares of the company's stock traded hands, compared to its average volume of 241,249. The firm has a 50-day moving average price of $6.52 and a 200 day moving average price of $6.57. Lifecore Biomedical, Inc. has a 52-week low of $3.68 and a 52-week high of $7.99. 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 firm has a market capitalization of $254.36 million, a PE ratio of -12.27 and a beta of 0.65.

Lifecore Biomedical (NASDAQ:LFCR - Get Free Report) last posted 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). Lifecore Biomedical had a negative net margin of 12.52% and a negative return on equity of 315.23%. 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 predict that Lifecore Biomedical, Inc. will post -0.91 EPS for the current fiscal year.

Institutional Investors Weigh In On Lifecore Biomedical

Several hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Lifecore Biomedical by 14.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,785 shares of the company's stock worth $104,000 after buying an additional 1,886 shares during the period. Bridgeway Capital Management LLC lifted its holdings in shares of Lifecore Biomedical by 2.5% in the 4th quarter. Bridgeway Capital Management LLC now owns 78,800 shares of the company's stock worth $585,000 after buying an additional 1,900 shares during the period. Wells Fargo & Company MN lifted 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 worth $99,000 after buying an additional 3,012 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Lifecore Biomedical by 3.8% in the 1st quarter. Bank of New York Mellon Corp now owns 83,663 shares of the company's stock worth $589,000 after buying an additional 3,091 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Lifecore Biomedical by 1,839.7% in the 1st quarter. GAMMA Investing LLC now owns 3,569 shares of the company's stock worth $25,000 after buying an additional 3,385 shares during the period. 83.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Lifecore Biomedical Company 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.