Round Rock Advisors LLC Has $1.10 Million Stake in Neogen Corporation $NEOG

Round Rock Advisors LLC boosted its position in shares of Neogen Corporation (NASDAQ:NEOG) by 520.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 156,967 shares of the company’s stock after purchasing an additional 131,684 shares during the period. Round Rock Advisors LLC’s holdings in Neogen were worth $1,097,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Neogen by 1.6% during the third quarter. Vanguard Group Inc. now owns 23,963,223 shares of the company’s stock worth $136,830,000 after buying an additional 385,885 shares in the last quarter. ING Groep NV acquired a new stake in shares of Neogen in the 3rd quarter valued at approximately $80,288,000. CIBC Bancorp USA Inc. acquired a new stake in shares of Neogen in the 3rd quarter valued at approximately $28,969,000. Hudson Bay Capital Management LP acquired a new stake in shares of Neogen in the 3rd quarter valued at approximately $28,550,000. Finally, Bank of Montreal Can boosted its stake in shares of Neogen by 4,059.4% in the 3rd quarter. Bank of Montreal Can now owns 4,592,218 shares of the company’s stock valued at $26,222,000 after purchasing an additional 4,481,812 shares in the last quarter. 96.73% of the stock is currently owned by institutional investors and hedge funds.

Neogen Stock Up 1.3%

Shares of NASDAQ NEOG opened at $9.63 on Tuesday. The company has a 50 day simple moving average of $9.94 and a 200 day simple moving average of $8.21. The firm has a market cap of $2.10 billion, a PE ratio of -3.44, a price-to-earnings-growth ratio of 4.32 and a beta of 1.97. Neogen Corporation has a 1 year low of $4.45 and a 1 year high of $11.43. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.92 and a quick ratio of 2.84.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings data on Thursday, April 9th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. The business had revenue of $211.20 million during the quarter, compared to analyst estimates of $204.62 million. Neogen had a negative net margin of 69.93% and a positive return on equity of 2.35%. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. On average, research analysts forecast that Neogen Corporation will post 0.22 EPS for the current year.

Wall Street Analyst Weigh In

NEOG has been the topic of a number of research analyst reports. Piper Sandler restated a “neutral” rating and issued a $10.00 price target (up from $6.50) on shares of Neogen in a research note on Monday, January 12th. Wall Street Zen downgraded shares of Neogen from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Guggenheim restated a “buy” rating and issued a $12.00 price target (up from $8.00) on shares of Neogen in a research note on Friday, January 9th. William Blair restated a “market perform” rating on shares of Neogen in a research note on Monday, March 2nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Neogen in a research note on Friday, April 10th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $10.67.

About Neogen

Neogen Corporation is a global provider of food and animal safety products, offering a broad portfolio of diagnostic and testing solutions. Headquartered in Lansing, Michigan, the company develops and manufactures tests designed to detect foodborne pathogens, allergens and toxins in food, beverage and environmental samples. Since its founding in 1982, Neogen has focused on delivering rapid, accurate and user‐friendly assays to food processors, grain handlers and quality laboratories around the world.

In the food safety arena, Neogen’s product lineup includes immunoassay kits, molecular diagnostics and enrichment media for pathogens such as Salmonella, Listeria and E.