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

Geode Capital Management LLC increased its position in Lifecore Biomedical, Inc. (NASDAQ:LFCR) by 10.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 597,685 shares of the company’s stock after purchasing an additional 55,703 shares during the period. Geode Capital Management LLC’s holdings in Lifecore Biomedical were worth $2,948,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its stake in 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 buying an additional 30,916 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Lifecore Biomedical by 87.3% during the second quarter. Marshall Wace LLP now owns 300,120 shares of the company’s stock valued at $1,540,000 after acquiring an additional 139,887 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Lifecore Biomedical by 2,640.5% during the third quarter. BNP Paribas Financial Markets now owns 54,399 shares of the company’s stock valued at $268,000 after acquiring an additional 52,414 shares in the last quarter. Rhumbline Advisers raised its position 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 purchasing an additional 25,378 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in Lifecore Biomedical in the 2nd quarter worth about $56,000. Institutional investors own 83.36% of the company’s stock.

Wall Street Analyst Weigh In

LFCR has been the subject of a number of analyst reports. Stephens restated an “equal weight” rating and set a $6.00 price objective on shares of Lifecore Biomedical in a research note on Friday, January 3rd. Craig Hallum boosted 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 Down 14.0 %

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

Lifecore Biomedical (NASDAQ:LFCR) last posted its earnings results on Thursday, January 2nd. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.02. Lifecore Biomedical had a negative return on equity of 382.65% and a net margin of 5.09%. On average, sell-side analysts predict 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.