GSA Capital Partners LLP acquired a new position in shares of Neogen Corporation (NASDAQ:NEOG – Free Report) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 73,103 shares of the company’s stock, valued at approximately $657,000.
Other large investors also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. bought a new stake in shares of Neogen during the second quarter worth approximately $156,000. Amundi bought a new position in Neogen in the first quarter valued at approximately $105,000. California State Teachers Retirement System boosted its stake in Neogen by 23.3% in the first quarter. California State Teachers Retirement System now owns 243,477 shares of the company’s stock valued at $2,262,000 after acquiring an additional 46,058 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Neogen by 3.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 96,859 shares of the company’s stock worth $900,000 after acquiring an additional 2,869 shares during the period. Finally, Quantinno Capital Management LP grew its holdings in Neogen by 13.5% during the 1st quarter. Quantinno Capital Management LP now owns 337,091 shares of the company’s stock worth $3,132,000 after acquiring an additional 40,051 shares during the period. 96.73% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts have commented on the stock. Wall Street Zen upgraded shares of Neogen from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Piper Sandler restated a “neutral” rating and issued a $13.00 price target (up from $11.00) on shares of Neogen in a research report on Monday, August 3rd. Finally, Weiss Ratings raised Neogen from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $11.67.
Neogen Stock Performance
Shares of NASDAQ:NEOG opened at $11.83 on Friday. The firm’s 50 day simple moving average is $10.17 and its 200 day simple moving average is $9.81. Neogen Corporation has a fifty-two week low of $4.90 and a fifty-two week high of $12.85. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of -394.33, a P/E/G ratio of 4.80 and a beta of 1.77. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.82 and a quick ratio of 2.91.
Neogen (NASDAQ:NEOG – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. Neogen had a negative net margin of 0.91% and a positive return on equity of 2.78%. The firm had revenue of $225.30 million during the quarter, compared to analysts’ expectations of $212.35 million. During the same quarter in the previous year, the company earned ($2.82) earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis. As a group, sell-side analysts forecast that Neogen Corporation will post 0.25 earnings per share for the current year.
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.
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