Wedbush Initiates Coverage on Landec Corporation to Neutral

Wedbush Initiates Coverage on Landec Corporation(NASDAQ:LNDC). The shares have been rated Neutral. The rating by Wedbush was issued on Jul 8, 2016.

In a different note, Maxim Group said it Initiates Coverage on Landec Corporation, according to a research note issued on Jun 7, 2016. The shares have been rated ‘Buy’ by the firm.

Landec Corporation (LNDC) shares turned negative on Wednesdays trading session with the shares closing down -0.34 points or -3.04% at a volume of 82,347. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $11.267. The peak price level was also seen at $11.267 while the days lowest was $10.86. Finally the shares closed at $10.86. The 52-week high of the shares is $14.31 while the 52-week low is $9.48. According to the latest information available, the market cap of the company is $294 M.

Landec Corporation(LNDC) last announced its earnings results on Mar 29, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $129.99M. Analysts had an estimated revenue of $136.99M. Earnings per share were $0.01. Analysts had estimated an EPS of $0.03.

Several Insider Transactions has been reported to the SEC. On Feb 8, 2016, Fred Frank (director) sold 4,573 shares at $12.00 per share price.

Landec Corporation designs develops manufactures and sells differentiated products for food and biomaterials markets and licenses technology applications to partners. The Company’s segments include Food Products Technology Food Export and Hyaluronan-based Biomaterials. The Company’s Food Products Technology segment markets and packs specialty packaged whole and fresh-cut fruit and vegetables. The Company’s Food Export segment is engaged in the purchase and sale of whole commodity fruit and vegetable products to Asia and domestically. The Company’s Hyaluronan-based Biomaterials segment sells products utilizing hyaluronan a polysaccharide that is distributed in the extracellular matrix of connective tissues in both animals and humans for medical use primarily in the ophthalmic orthopedic and veterinary markets. The Company licenses its Intellicoat seed coatings to the farming industry and licenses its Intelimer polymers for personal care products and other industrial products.

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