Barrington analyst Michael Petusky maintained a Buy rating on Landec (LNDC – Research Report) today and set a price target of $14.00. The company’s shares closed yesterday at $8.57.
Petusky covers the Healthcare sector, focusing on stocks such as Lemaitre Vascular, Haemonetics, and Landec. According to TipRanks, Petusky has an average return of 6.3% and a 47.76% success rate on recommended stocks.
Landec has an analyst consensus of Moderate Buy, with a price target consensus of $13.50.
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Based on Landec’s latest earnings release for the quarter ending May 31, the company reported a quarterly revenue of $47.63 million and a GAAP net loss of $36.66 million. In comparison, last year the company earned a revenue of $44.92 million and had a GAAP net loss of $2.87 million
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Landec Corp. engages in the design, development, manufacture, and sale of health and wellness products for food and biomaterials markets. It operates through the following segments: Curation Foods, Lifecore, and Others. The Curation Foods segment includes activities to market and pack specialty packaged whole and fresh-cut fruit and vegetables. The Lifecore segment sells products utilizing hyaluronan, a naturally occurring polysaccharide that is widely distributed in the extracellular matrix of connective tissues in both animals and humans. The Other segment consists of corporate general and administrative expenses, non-Curation Foods and non-Lifecore interest income, and income tax expenses. The company was founded by Ray Stewart on October 31, 1986 and is headquartered in Santa Clara, CA.
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