Creative Planning Buys Shares of 14,000 Lifecore Biomedical, Inc. (NASDAQ:LFCR)

Creative Planning acquired a new stake in Lifecore Biomedical, Inc. (NASDAQ:LFCR) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,000 shares of the company’s stock, valued at approximately $69,000.

Other hedge funds also recently added to or reduced their stakes in the company. Marshall Wace LLP lifted its position in shares of Lifecore Biomedical by 87.3% in the 2nd quarter. Marshall Wace LLP now owns 300,120 shares of the company’s stock worth $1,540,000 after purchasing an additional 139,887 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Lifecore Biomedical during the second quarter worth about $327,000. Rhumbline Advisers lifted its stake in shares of Lifecore Biomedical by 1,668.5% during the second quarter. Rhumbline Advisers now owns 26,899 shares of the company’s stock worth $138,000 after buying an additional 25,378 shares during the period. State Board of Administration of Florida Retirement System acquired a new position in shares of Lifecore Biomedical in the first quarter valued at about $114,000. Finally, Boston Partners acquired a new position in Lifecore Biomedical in the 1st quarter worth approximately $104,000. 83.36% of the stock is owned by hedge funds and other institutional investors.

Lifecore Biomedical Stock Performance

NASDAQ:LFCR opened at $7.02 on Wednesday. The company has a fifty day moving average of $5.24 and a two-hundred day moving average of $5.43. Lifecore Biomedical, Inc. has a fifty-two week low of $3.68 and a fifty-two week high of $8.90. The stock has a market capitalization of $258.53 million, a PE ratio of 87.75 and a beta of 0.94. The company has a debt-to-equity ratio of 12.90, a quick ratio of 0.80 and a current ratio of 1.83.

Lifecore Biomedical (NASDAQ:LFCR) last issued its earnings results on Friday, October 4th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.07). The business had revenue of $24.71 million during the quarter, compared to analyst estimates of $23.30 million. Lifecore Biomedical had a net margin of 5.09% and a negative return on equity of 382.65%. As a group, research analysts forecast that Lifecore Biomedical, Inc. will post -0.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Lifecore Biomedical

In other Lifecore Biomedical news, major shareholder Wynnefield Partners Small Cap purchased 122,930 shares of the stock in a transaction dated Thursday, October 3rd. The stock was acquired at an average cost of $4.10 per share, for a total transaction of $504,013.00. Following the acquisition, the insider now owns 2,095,783 shares in the company, valued at $8,592,710.30. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 28.21% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

LFCR has been the topic of a number of research reports. Craig Hallum initiated coverage on shares of Lifecore Biomedical in a research note on Thursday, September 5th. They issued a “buy” rating and a $8.00 price objective on the stock. Barrington Research cut Lifecore Biomedical from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 28th.

Lifecore Biomedical 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.