Public Employees Retirement System of Ohio Takes Position in Lifecore Biomedical, Inc. (NASDAQ:LFCR)

Public Employees Retirement System of Ohio bought a new stake in Lifecore Biomedical, Inc. (NASDAQ:LFCR) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 24,153 shares of the company’s stock, valued at approximately $119,000. Public Employees Retirement System of Ohio owned 0.07% of Lifecore Biomedical at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Allegheny Financial Group LTD purchased a new position in Lifecore Biomedical in the 2nd quarter valued at about $52,000. Renaissance Technologies LLC acquired a new position in shares of Lifecore Biomedical in the second quarter worth about $56,000. Creative Planning purchased a new position in Lifecore Biomedical in the third quarter valued at about $69,000. Rhumbline Advisers grew its stake 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 purchasing an additional 25,378 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in Lifecore Biomedical by 101.7% during the 3rd quarter. Jane Street Group LLC now owns 36,246 shares of the company’s stock worth $179,000 after purchasing an additional 18,277 shares during the last quarter. 83.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LFCR has been the subject of a number of recent analyst reports. Barrington Research downgraded shares of Lifecore Biomedical from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 28th. Craig Hallum raised their price objective on shares of Lifecore Biomedical from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, November 22nd.

Lifecore Biomedical Trading Up 2.4 %

Shares of NASDAQ LFCR opened at $7.24 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.83 and a debt-to-equity ratio of 12.90. The stock’s 50 day moving average price is $6.57 and its two-hundred day moving average price is $5.67. Lifecore Biomedical, Inc. has a 52-week low of $3.68 and a 52-week high of $8.90. The stock has a market capitalization of $266.63 million, a P/E ratio of 90.50 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) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.07). The firm had revenue of $24.71 million for 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%. On average, analysts anticipate that Lifecore Biomedical, Inc. will post -0.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Wynnefield Partners Small Cap purchased 122,930 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were acquired at an average cost of $4.10 per share, for a total transaction of $504,013.00. Following the transaction, the insider now owns 2,095,783 shares of the company’s stock, valued at $8,592,710.30. This trade represents a 6.23 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 28.21% of the stock is owned by corporate insiders.

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.