Wittenberg Investment Management Inc. Acquires 42,967 Shares of Lifecore Biomedical, Inc. (NASDAQ:LFCR)

Wittenberg Investment Management Inc. grew its stake in Lifecore Biomedical, Inc. (NASDAQ:LFCR) by 287.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,896 shares of the company’s stock after buying an additional 42,967 shares during the period. Wittenberg Investment Management Inc. owned approximately 0.16% of Lifecore Biomedical worth $285,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Marshall Wace LLP boosted its position in Lifecore Biomedical by 87.3% during the second quarter. Marshall Wace LLP now owns 300,120 shares of the company’s stock worth $1,540,000 after purchasing an additional 139,887 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Lifecore Biomedical during the 2nd quarter worth $327,000. Rhumbline Advisers grew its stake in Lifecore Biomedical by 1,668.5% in the 2nd quarter. Rhumbline Advisers now owns 26,899 shares of the company’s stock valued at $138,000 after buying an additional 25,378 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new position in Lifecore Biomedical in the 1st quarter worth $114,000. Finally, Boston Partners acquired a new position in Lifecore Biomedical during the 1st quarter worth $104,000. Institutional investors own 83.36% of the company’s stock.

Insider Transactions at Lifecore Biomedical

In related news, major shareholder Wynnefield Partners Small Cap bought 122,930 shares of the company’s stock in a transaction dated Thursday, October 3rd. The stock was acquired 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 represents a 6.23 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 28.21% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on LFCR. Craig Hallum raised their price target on Lifecore Biomedical from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Friday. Barrington Research lowered Lifecore Biomedical from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 28th.

Lifecore Biomedical Price Performance

Shares of Lifecore Biomedical stock opened at $7.31 on Monday. The firm has a fifty day moving average price of $5.58 and a two-hundred day moving average price of $5.45. The company has a market cap of $269.23 million, a PE ratio of 91.38 and a beta of 0.94. The company has a debt-to-equity ratio of 12.90, a current ratio of 1.83 and a quick ratio of 0.80. Lifecore Biomedical, Inc. has a fifty-two week low of $3.68 and a fifty-two week high of $8.90.

Lifecore Biomedical (NASDAQ:LFCR) last issued its 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 net margin of 5.09% and a negative return on equity of 382.65%. The firm had revenue of $24.71 million during the quarter, compared to analyst estimates of $23.30 million. Analysts expect that Lifecore Biomedical, Inc. will post -0.99 EPS for the current year.

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.