Geode Capital Management LLC Increases Position in Lifecore Biomedical, Inc. (NASDAQ:LFCR)

Geode Capital Management LLC boosted its position in Lifecore Biomedical, Inc. (NASDAQ:LFCR) by 10.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 597,685 shares of the company’s stock after acquiring an additional 55,703 shares during the quarter. Geode Capital Management LLC owned 1.62% of Lifecore Biomedical worth $2,948,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new stake in Lifecore Biomedical in the second quarter worth $56,000. Creative Planning purchased a new position in shares of Lifecore Biomedical in the third quarter worth about $69,000. Public Employees Retirement System of Ohio bought a new stake in shares of Lifecore Biomedical in the 3rd quarter valued at about $119,000. Rhumbline Advisers boosted its holdings in Lifecore Biomedical by 1,668.5% during the 2nd quarter. Rhumbline Advisers now owns 26,899 shares of the company’s stock valued at $138,000 after acquiring an additional 25,378 shares during the period. Finally, Barclays PLC boosted its holdings in Lifecore Biomedical by 301.7% during the 3rd quarter. Barclays PLC now owns 29,944 shares of the company’s stock valued at $147,000 after acquiring an additional 22,489 shares during the period. Hedge funds and other institutional investors own 83.36% of the company’s stock.

Lifecore Biomedical Stock Down 14.0 %

Shares of NASDAQ:LFCR opened at $5.91 on Wednesday. The stock’s 50-day moving average is $7.05 and its 200 day moving average is $5.82. The company has a market cap of $217.65 million, a PE ratio of 73.88 and a beta of 0.98. The company has a debt-to-equity ratio of 12.90, a current ratio of 1.83 and a quick ratio of 0.80. Lifecore Biomedical, Inc. has a 1 year low of $3.68 and a 1 year high of $8.90.

Lifecore Biomedical (NASDAQ:LFCR) last posted its earnings results on Thursday, January 2nd. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.02. Lifecore Biomedical had a negative return on equity of 382.65% and a net margin of 5.09%. Sell-side analysts anticipate that Lifecore Biomedical, Inc. will post -0.99 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on LFCR shares. Craig Hallum boosted their price objective on Lifecore Biomedical from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Stephens reiterated an “equal weight” rating and set a $6.00 price target on shares of Lifecore Biomedical in a report on Friday, January 3rd.

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.