Bank of New York Mellon Corp Boosts Holdings in Lifecore Biomedical, Inc. (NASDAQ:LFCR)

Bank of New York Mellon Corp lifted its stake in shares of Lifecore Biomedical, Inc. (NASDAQ:LFCR) by 71.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 80,572 shares of the company’s stock after buying an additional 33,690 shares during the quarter. Bank of New York Mellon Corp owned about 0.22% of Lifecore Biomedical worth $599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of LFCR. Barclays PLC boosted its position 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 in the last quarter. State Street Corp boosted its position in shares of Lifecore Biomedical by 10.2% during the third quarter. State Street Corp now owns 334,360 shares of the company’s stock valued at $1,648,000 after purchasing an additional 30,916 shares in the last quarter. Jane Street Group LLC boosted its position in shares of Lifecore Biomedical by 101.7% during the third quarter. Jane Street Group LLC now owns 36,246 shares of the company’s stock valued at $179,000 after purchasing an additional 18,277 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Lifecore Biomedical by 2,640.5% in the third quarter. BNP Paribas Financial Markets now owns 54,399 shares of the company’s stock worth $268,000 after purchasing an additional 52,414 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Lifecore Biomedical by 10.3% in the third quarter. Geode Capital Management LLC now owns 597,685 shares of the company’s stock worth $2,948,000 after purchasing an additional 55,703 shares in the last quarter. Hedge funds and other institutional investors own 83.36% of the company’s stock.

Analyst Ratings Changes

Separately, Stephens restated an “equal weight” rating and set a $6.00 target price on shares of Lifecore Biomedical in a report on Friday, January 3rd.

Insider Buying and Selling

In other news, CEO Paul Josephs bought 17,000 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was acquired at an average cost of $5.74 per share, with a total value of $97,580.00. Following the completion of the acquisition, the chief executive officer now owns 559,717 shares of the company’s stock, valued at approximately $3,212,775.58. This represents a 3.13 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 32.20% of the stock is currently owned by company insiders.

Lifecore Biomedical Price Performance

LFCR stock opened at $6.83 on Friday. The company has a debt-to-equity ratio of 9.21, a quick ratio of 1.21 and a current ratio of 2.32. The firm has a 50 day moving average price of $6.14 and a 200-day moving average price of $6.17. Lifecore Biomedical, Inc. has a 52-week low of $3.68 and a 52-week high of $7.99. The firm has a market capitalization of $252.88 million, a price-to-earnings ratio of -12.20 and a beta of 0.96.

Lifecore Biomedical (NASDAQ:LFCR) last announced its quarterly earnings data on Thursday, January 2nd. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.02. Lifecore Biomedical had a negative return on equity of 315.23% and a negative net margin of 12.52%. Equities research analysts forecast that Lifecore Biomedical, Inc. will post -0.91 EPS for the current fiscal year.

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.