American Century Companies Inc. Sells 27,513 Shares of Lifecore Biomedical, Inc. (NASDAQ:LFCR)

American Century Companies Inc. lessened its holdings in shares of Lifecore Biomedical, Inc. (NASDAQ:LFCR) by 46.2% in the second quarter, HoldingsChannel.com reports. The fund owned 31,982 shares of the company’s stock after selling 27,513 shares during the period. American Century Companies Inc.’s holdings in Lifecore Biomedical were worth $164,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Allegheny Financial Group LTD purchased a new stake in Lifecore Biomedical in the second quarter valued at approximately $52,000. Rhumbline Advisers increased its holdings in shares of Lifecore Biomedical by 1,668.5% in the 2nd 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 last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Lifecore Biomedical during the 2nd quarter valued at $327,000. Boston Partners bought a new stake in shares of Lifecore Biomedical during the 1st quarter worth $104,000. Finally, State Board of Administration of Florida Retirement System purchased a new position in Lifecore Biomedical in the first quarter worth $114,000. Hedge funds and other institutional investors own 83.36% of the company’s stock.

Lifecore Biomedical Price Performance

LFCR stock opened at $5.38 on Friday. The company has a debt-to-equity ratio of 12.90, a quick ratio of 1.06 and a current ratio of 2.08. Lifecore Biomedical, Inc. has a 52 week low of $3.68 and a 52 week high of $8.90. The firm’s fifty day moving average is $5.20 and its 200 day moving average is $5.54. The firm has a market cap of $163.13 million, a P/E ratio of -1.61 and a beta of 0.95.

Lifecore Biomedical (NASDAQ:LFCR) last announced its quarterly earnings data on Monday, August 26th. The company reported ($0.15) earnings per share (EPS) for the quarter. The company had revenue of $37.89 million for the quarter. Lifecore Biomedical had a net margin of 9.37% and a negative return on equity of 515.12%. Research analysts predict that Lifecore Biomedical, Inc. will post -0.89 earnings per share for the current year.

Analyst Ratings Changes

LFCR has been the subject of several research analyst reports. Craig Hallum began coverage on Lifecore Biomedical in a research note on Thursday, September 5th. They set a “buy” rating and a $8.00 price target for the company. Barrington Research downgraded Lifecore Biomedical from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 28th.

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.