Mizuho Markets Americas LLC increased its position in Neogen Corporation (NASDAQ:NEOG – Free Report) by 75.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,500,000 shares of the company’s stock after acquiring an additional 1,500,000 shares during the period. Mizuho Markets Americas LLC’s holdings in Neogen were worth $24,465,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Neogen by 1.6% during the third quarter. Vanguard Group Inc. now owns 23,963,223 shares of the company’s stock valued at $136,830,000 after purchasing an additional 385,885 shares in the last quarter. ING Groep NV purchased a new position in Neogen during the third quarter valued at $80,288,000. CIBC Bancorp USA Inc. purchased a new position in Neogen during the third quarter valued at $28,969,000. Hudson Bay Capital Management LP purchased a new position in Neogen during the third quarter valued at $28,550,000. Finally, Bank of Montreal Can lifted its position in Neogen by 4,059.4% during the third 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. Institutional investors own 96.73% of the company’s stock.
Analyst Ratings Changes
Several equities analysts recently weighed in on NEOG shares. Wall Street Zen upgraded Neogen from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Neogen in a research report on Friday, April 10th. Finally, William Blair reiterated a “market perform” rating on shares of Neogen in a research report on Monday, March 2nd. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Neogen presently has a consensus rating of “Hold” and an average price target of $10.67.
Neogen Price Performance
Shares of Neogen stock opened at $8.90 on Friday. The stock’s 50-day simple moving average is $9.16 and its 200-day simple moving average is $8.65. Neogen Corporation has a 52 week low of $4.53 and a 52 week high of $11.43. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of -3.18, a PEG ratio of 3.85 and a beta of 1.84. The company has a quick ratio of 2.84, a current ratio of 3.92 and a debt-to-equity ratio of 0.38.
Neogen (NASDAQ:NEOG – Get Free Report) last announced its quarterly earnings data on Thursday, April 9th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.04 by $0.05. Neogen had a positive return on equity of 2.35% and a negative net margin of 69.93%.The business had revenue of $211.20 million for the quarter, compared to the consensus estimate of $204.62 million. The firm’s revenue was down 4.4% compared to the same quarter last year. As a group, analysts expect that Neogen Corporation will post 0.23 earnings per share for the current fiscal 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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