Clarkston Capital Partners LLC lessened its stake in Neogen Corporation (NASDAQ:NEOG – Free Report) by 3.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 11,328,670 shares of the company’s stock after selling 364,580 shares during the quarter. Neogen accounts for about 1.8% of Clarkston Capital Partners LLC’s portfolio, making the stock its 20th largest position. Clarkston Capital Partners LLC owned about 0.05% of Neogen worth $79,187,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Cresset Asset Management LLC acquired a new position in Neogen in the second quarter worth $53,000. Hantz Financial Services Inc. boosted its holdings in Neogen by 816.9% in the fourth quarter. Hantz Financial Services Inc. now owns 7,592 shares of the company’s stock worth $53,000 after purchasing an additional 6,764 shares during the period. Evergreen Capital Management LLC acquired a new position in Neogen in the second quarter worth $56,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Neogen by 3,158.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 8,309 shares of the company’s stock worth $58,000 after purchasing an additional 8,054 shares during the period. Finally, Osaic Holdings Inc. boosted its holdings in Neogen by 183.5% in the second quarter. Osaic Holdings Inc. now owns 12,663 shares of the company’s stock worth $61,000 after purchasing an additional 8,196 shares during the period. Institutional investors own 96.73% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have commented on NEOG shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Neogen in a report on Friday, April 10th. William Blair reaffirmed a “market perform” rating on shares of Neogen in a report on Monday, March 2nd. Finally, Wall Street Zen raised shares of Neogen from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $10.67.
Neogen Stock Performance
Shares of NEOG opened at $9.10 on Friday. Neogen Corporation has a 1 year low of $4.56 and a 1 year high of $11.43. The company has a market cap of $1.98 billion, a price-to-earnings ratio of -3.25, a price-to-earnings-growth ratio of 4.14 and a beta of 1.80. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.84 and a current ratio of 3.92. The firm has a fifty day moving average of $9.17 and a 200-day moving average of $8.96.
Neogen (NASDAQ:NEOG – Get Free Report) last announced its quarterly earnings results on Thursday, April 9th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.05. Neogen had a negative net margin of 69.93% and a positive return on equity of 2.35%. The company had revenue of $211.20 million during the quarter, compared to the consensus estimate of $204.62 million. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. As a group, equities analysts anticipate that Neogen Corporation will post 0.23 earnings per share for the current year.
Neogen Company Profile
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.
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