Lifecore Biomedical (NASDAQ:LFCR) Trading Up 4.5% - Time to Buy?

Lifecore Biomedical, Inc. (NASDAQ:LFCR - Get Free Report)'s share price was up 4.5% during mid-day trading on Wednesday . The stock traded as high as $6.48 and last traded at $6.41. Approximately 159,264 shares traded hands during mid-day trading, an increase of 22% from the average daily volume of 130,473 shares. The stock had previously closed at $6.14.

Wall Street Analysts Forecast Growth

Several analysts recently commented on LFCR shares. Barrington Research lowered shares of Lifecore Biomedical from an "outperform" rating to a "market perform" rating in a research note on Wednesday, August 28th. Craig Hallum started coverage on shares of Lifecore Biomedical in a research note on Thursday, September 5th. They set a "buy" rating and a $8.00 target price for the company.

Lifecore Biomedical Trading Down 0.3 %

The company has a current ratio of 1.83, a quick ratio of 0.80 and a debt-to-equity ratio of 12.90. The business's fifty day simple moving average is $5.04 and its two-hundred day simple moving average is $5.43. The stock has a market capitalization of $235.34 million, a P/E ratio of 80.13 and a beta of 0.94.

Lifecore Biomedical (NASDAQ:LFCR - Get Free Report) last issued its quarterly earnings results on Friday, October 4th. The company reported ($0.53) earnings per share for the quarter, missing analysts' consensus estimates of ($0.46) by ($0.07). Lifecore Biomedical had a net margin of 5.09% and a negative return on equity of 382.65%. The company had revenue of $24.71 million during the quarter, compared to the consensus estimate of $23.30 million. As a group, analysts forecast that Lifecore Biomedical, Inc. will post -0.85 earnings per share for the current year.

Insider Buying and Selling at Lifecore Biomedical

In other Lifecore Biomedical news, major shareholder Wynnefield Partners Small Cap acquired 122,930 shares of Lifecore Biomedical stock in a transaction dated Thursday, October 3rd. The stock was bought at an average cost of $4.10 per share, with a total value of $504,013.00. Following the acquisition, the insider now owns 2,095,783 shares of the company's stock, valued at approximately $8,592,710.30. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 28.21% of the company's stock.

Hedge Funds Weigh In On Lifecore Biomedical

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Allegheny Financial Group LTD bought a new position in Lifecore Biomedical during the 2nd quarter valued at about $52,000. Renaissance Technologies LLC bought a new position in Lifecore Biomedical during the 2nd quarter valued at about $56,000. SG Americas Securities LLC bought a new position in Lifecore Biomedical during the 1st quarter valued at about $57,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Lifecore Biomedical during the 1st quarter valued at about $58,000. Finally, Creative Planning bought a new position in Lifecore Biomedical during the 3rd quarter valued at about $69,000. 83.36% of the stock is owned by institutional investors.

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.