Jacobs Levy Equity Management Inc. Purchases Shares of 42,074 Lifecore Biomedical, Inc. (NASDAQ:LFCR)

Jacobs Levy Equity Management Inc. purchased a new stake in shares of Lifecore Biomedical, Inc. (NASDAQ:LFCR) in the third quarter, HoldingsChannel reports. The institutional investor purchased 42,074 shares of the company’s stock, valued at approximately $207,000.

A number of other large investors have also made changes to their positions in the company. Legion Partners Asset Management LLC grew its stake in shares of Lifecore Biomedical by 0.6% during the 2nd quarter. Legion Partners Asset Management LLC now owns 2,968,409 shares of the company’s stock valued at $15,228,000 after purchasing an additional 18,182 shares during the period. Marshall Wace LLP lifted its position in shares of Lifecore Biomedical by 87.3% during the 2nd quarter. Marshall Wace LLP now owns 300,120 shares of the company’s stock valued at $1,540,000 after buying an additional 139,887 shares in the last quarter. DCF Advisers LLC lifted its position in shares of Lifecore Biomedical by 2.1% during the 2nd quarter. DCF Advisers LLC now owns 290,684 shares of the company’s stock valued at $1,491,000 after buying an additional 6,000 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Lifecore Biomedical during the 2nd quarter valued at about $327,000. Finally, Wittenberg Investment Management Inc. lifted its position in shares of Lifecore Biomedical by 287.8% during the 3rd quarter. Wittenberg Investment Management Inc. now owns 57,896 shares of the company’s stock valued at $285,000 after buying an additional 42,967 shares in the last quarter. 83.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LFCR has been the topic of a number of analyst reports. Barrington Research cut Lifecore Biomedical from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 28th. Craig Hallum lifted 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.

Insider Buying and Selling

In other Lifecore Biomedical news, major shareholder Wynnefield Partners Small Cap purchased 122,930 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were 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 in the company, valued at approximately $8,592,710.30. This trade represents a 6.23 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 28.21% of the stock is owned by insiders.

Lifecore Biomedical Stock Up 1.6 %

LFCR stock opened at $7.28 on Wednesday. The business’s 50-day moving average price is $6.15 and its 200-day moving average price is $5.57. The company has a quick ratio of 0.80, a current ratio of 1.83 and a debt-to-equity ratio of 12.90. Lifecore Biomedical, Inc. has a twelve month low of $3.68 and a twelve month high of $8.90. The stock has a market cap of $268.10 million, a P/E ratio of 91.00 and a beta of 0.99.

Lifecore Biomedical (NASDAQ:LFCR) last posted its quarterly 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). Lifecore Biomedical had a negative return on equity of 382.65% and a net margin of 5.09%. The business had revenue of $24.71 million during the quarter, compared to analysts’ expectations of $23.30 million. On average, equities research analysts forecast that Lifecore Biomedical, Inc. will post -0.99 EPS for the current year.

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.