Insider Selling: Landec Corp. EVP Unloads 6,000 Shares of Stock (LNDC)
Landec Corp. (NASDAQ:LNDC) EVP Ronald Lane Midyett sold 6,000 shares of Landec Corp. stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $11.59, for a total value of $69,540.00. Following the transaction, the executive vice president now directly owns 55,872 shares of the company’s stock, valued at approximately $647,556. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Landec Corp. (NASDAQ:LNDC) traded up 0.51% during mid-day trading on Thursday, hitting $11.75. The stock had a trading volume of 68,010 shares. Landec Corp. has a 1-year low of $9.84 and a 1-year high of $15.96. The stock has a 50-day moving average of $11.58 and a 200-day moving average of $11.47. The company has a market cap of $314.7 million and a price-to-earnings ratio of 16.44.
Landec Corp. (NASDAQ:LNDC) last announced its earnings results on Tuesday, March 25th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.02. The company had revenue of $126.00 million for the quarter, compared to the consensus estimate of $124.90 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, analysts predict that Landec Corp. will post $0.72 earnings per share for the current fiscal year.
LNDC has been the subject of a number of recent research reports. Analysts at Northland Securities reiterated an “outperform” rating on shares of Landec Corp. in a research note on Monday, April 14th. They now have a $14.00 price target on the stock. Separately, analysts at Imperial Capital initiated coverage on shares of Landec Corp. in a research note on Tuesday, April 1st. They set an “outperform” rating and a $16.00 price target on the stock. Finally, analysts at Lake Street Capital initiated coverage on shares of Landec Corp. in a research note on Monday, March 10th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $13.53.
Landec Corporation (NASDAQ:LNDC) designs, develops, manufactures and sells polymer products for food and agricultural products, medical devices and licensed partner applications that incorporate Landec’s polymer technologies.
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