Lifecore Biomedical, Inc. (NASDAQ:LFCR) Receives Average Rating of “Hold” from Brokerages

Shares of Lifecore Biomedical, Inc. (NASDAQ:LFCR) have been given a consensus recommendation of “Hold” by the five brokerages that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $8.00.

Several equities research analysts have weighed in on the stock. Wall Street Zen raised shares of Lifecore Biomedical from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lifecore Biomedical in a research report on Wednesday, October 8th. Finally, KeyCorp assumed coverage on shares of Lifecore Biomedical in a research report on Wednesday, September 3rd. They issued a “sector weight” rating for the company.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. increased its stake in shares of Lifecore Biomedical by 16.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 87,998 shares of the company’s stock worth $620,000 after acquiring an additional 12,647 shares in the last quarter. XTX Topco Ltd bought a new stake in Lifecore Biomedical during the 1st quarter valued at about $145,000. Hurley Capital LLC bought a new stake in Lifecore Biomedical during the 1st quarter valued at about $35,000. Boston Partners bought a new stake in Lifecore Biomedical during the 1st quarter valued at about $241,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Lifecore Biomedical by 3.8% in the first quarter. Bank of New York Mellon Corp now owns 83,663 shares of the company’s stock worth $589,000 after acquiring an additional 3,091 shares during the period. 83.36% of the stock is currently owned by institutional investors.

Lifecore Biomedical Price Performance

Shares of NASDAQ:LFCR opened at $6.73 on Tuesday. The company has a current ratio of 2.84, a quick ratio of 1.77 and a debt-to-equity ratio of 113.76. Lifecore Biomedical has a 12 month low of $4.76 and a 12 month high of $8.85. The stock has a market cap of $252.17 million, a P/E ratio of -5.14 and a beta of 0.62. The company has a 50 day moving average of $7.21 and a 200 day moving average of $7.15.

Lifecore Biomedical (NASDAQ:LFCR) last released its quarterly earnings results on Monday, April 1st. The company reported ($0.22) EPS for the quarter. The company had revenue of $26.54 million during the quarter. Lifecore Biomedical had a negative return on equity of 846.51% and a negative net margin of 31.70%. Lifecore Biomedical has set its FY 2024 guidance at EPS. As a group, sell-side analysts forecast that Lifecore Biomedical will post -0.91 EPS for the current fiscal 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.