William Blair Initiates Coverage on Lifecore Biomedical (NASDAQ:LFCR)

Equities research analysts at William Blair began coverage on shares of Lifecore Biomedical (NASDAQ:LFCR - Get Free Report) in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. The firm set an "outperform" rating on the stock.

Lifecore Biomedical Stock Performance

LFCR stock opened at $6.63 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 2.32 and a debt-to-equity ratio of 9.21. Lifecore Biomedical has a twelve month low of $3.68 and a twelve month high of $7.99. The stock has a market capitalization of $245.48 million, a price-to-earnings ratio of -11.84 and a beta of 0.65. The firm's fifty day simple moving average is $6.49 and its two-hundred day simple moving average is $6.56.

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

Insider Activity at Lifecore Biomedical

In other Lifecore Biomedical news, major shareholder Aron R. English sold 24,543 shares of Lifecore Biomedical stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $7.08, for a total transaction of $173,764.44. Following the completion of the sale, the insider now directly owns 1,730,618 shares in the company, valued at $12,252,775.44. This trade represents a 1.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 99,122 shares of company stock valued at $697,347. 32.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lifecore Biomedical

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC increased its holdings in shares of Lifecore Biomedical by 301.7% in the third quarter. Barclays PLC now owns 29,944 shares of the company's stock valued at $147,000 after purchasing an additional 22,489 shares during the period. Steward Partners Investment Advisory LLC increased 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 worth $202,000 after buying an additional 10,320 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Lifecore Biomedical by 71.9% in the 4th quarter. Bank of New York Mellon Corp now owns 80,572 shares of the company's stock worth $599,000 after acquiring an additional 33,690 shares during the period. Rhumbline Advisers boosted its stake in shares of 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 buying an additional 31,056 shares during the last quarter. Finally, Rangeley Capital LLC bought a new stake in shares of Lifecore Biomedical during the 4th quarter valued at about $325,000. 83.36% of the stock is owned by institutional investors and hedge funds.

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.

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