Lifecore Biomedical (NASDAQ:LFCR) Shares Up 1.4% – Should You Buy?

Shares of Lifecore Biomedical, Inc. (NASDAQ:LFCR) rose 1.4% on Wednesday . The stock traded as high as $7.36 and last traded at $7.26. Approximately 97,216 shares traded hands during trading, a decline of 29% from the average daily volume of 136,246 shares. The stock had previously closed at $7.16.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Zacks Research raised Lifecore Biomedical to a “hold” rating in a research note on Thursday, January 1st. Weiss Ratings reissued a “sell (d)” rating on shares of Lifecore Biomedical in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Lifecore Biomedical presently has an average rating of “Hold”.

Lifecore Biomedical Trading Up 1.4%

The company has a debt-to-equity ratio of 113.76, a quick ratio of 1.67 and a current ratio of 2.80. The firm has a market capitalization of $272.03 million, a PE ratio of -6.79 and a beta of 0.59. The stock’s 50-day simple moving average is $7.96 and its 200-day simple moving average is $7.56.

Institutional Investors Weigh In On Lifecore Biomedical

Hedge funds have recently made changes to their positions in the company. Legion Partners Asset Management LLC raised its holdings in Lifecore Biomedical by 0.7% in the third quarter. Legion Partners Asset Management LLC now owns 4,461,823 shares of the company’s stock worth $32,839,000 after purchasing an additional 30,000 shares in the last quarter. Greenhaven Road Investment Management L.P. increased its stake in shares of Lifecore Biomedical by 2.2% in the 2nd quarter. Greenhaven Road Investment Management L.P. now owns 3,694,832 shares of the company’s stock worth $30,002,000 after acquiring an additional 78,686 shares in the last quarter. Vanguard Group Inc. lifted its position in Lifecore Biomedical by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,622,769 shares of the company’s stock valued at $11,944,000 after acquiring an additional 12,851 shares during the period. Geode Capital Management LLC boosted its stake in Lifecore Biomedical by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 779,642 shares of the company’s stock worth $6,379,000 after acquiring an additional 6,013 shares in the last quarter. Finally, Grizzlyrock Capital LLC bought a new position in shares of Lifecore Biomedical during the second quarter valued at approximately $5,964,000. 83.36% of the stock is currently owned by institutional investors.

Lifecore Biomedical Company Profile

Lifecore Biomedical, Inc is a publicly traded specialty biopharmaceutical company headquartered in Chaska, Minnesota. The company focuses on the development, manufacture and commercialization of hyaluronic acid (HA)–based products that address medical and aesthetic needs. Lifecore’s proprietary HA formulations are designed to meet strict regulatory standards for purity, consistency and performance in highly regulated markets.

The company’s product portfolio spans multiple therapeutic areas, including ophthalmology, orthopedics, dermatology and wound care.