168,254 Shares in Neogen Corporation $NEOG Acquired by Expect Equity LLC

Key Points

• Expect Equity LLC acquired 168,254 shares of Neogen during the second quarter, valued at approximately $1.51 million and representing about 0.08% of the company. Institutional investors collectively own 96.73% of Neogen.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and average price target of $11.67; Piper Sandler raised its target to $13 while maintaining a neutral rating.
• Neogen reported quarterly EPS of $0.09, beating estimates of $0.06, while revenue of $225.3 million exceeded forecasts. The stock opened at $11.64, compared with a 12-month range of $4.90 to $12.85.

Expect Equity LLC bought a new stake in Neogen Corporation (NASDAQ:NEOG - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 168,254 shares of the company's stock, valued at approximately $1,513,000. Expect Equity LLC owned approximately 0.08% of Neogen at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NEOG. UMB Bank n.a. raised its position in shares of Neogen by 238.2% during the 4th quarter. UMB Bank n.a. now owns 6,422 shares of the company's stock valued at $45,000 after buying an additional 4,523 shares in the last quarter. Hantz Financial Services Inc. increased its stake in Neogen by 816.9% in the fourth quarter. Hantz Financial Services Inc. now owns 7,592 shares of the company's stock valued at $53,000 after acquiring an additional 6,764 shares during the last quarter. Cresset Asset Management LLC bought a new position in Neogen in the second quarter valued at $53,000. Evergreen Capital Management LLC purchased a new stake in Neogen during the second quarter valued at about $56,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Neogen by 3,158.4% during 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 last quarter. Hedge funds and other institutional investors own 96.73% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on NEOG shares. Piper Sandler reiterated a "neutral" rating and set a $13.00 price objective (up from $11.00) on shares of Neogen in a research report on Monday, August 3rd. Wall Street Zen upgraded Neogen from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. 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 issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $11.67.

Neogen Stock Performance

NASDAQ NEOG opened at $11.64 on Wednesday. The company has a 50-day simple moving average of $10.31 and a two-hundred day simple moving average of $9.84. Neogen Corporation has a 12-month low of $4.90 and a 12-month high of $12.85. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of -388.00, a PEG ratio of 4.58 and a beta of 1.77. The company has a quick ratio of 2.91, a current ratio of 3.82 and a debt-to-equity ratio of 0.38.

Neogen (NASDAQ:NEOG - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.06 by $0.03. Neogen had a positive return on equity of 2.78% and a negative net margin of 0.91%.The company had revenue of $225.30 million during the quarter, compared to analyst estimates of $212.35 million. During the same quarter in the previous year, the company posted ($2.82) EPS. Neogen's revenue for the quarter was down .1% on a year-over-year basis. On average, equities analysts forecast that Neogen Corporation will post 0.25 EPS for the current year.

Neogen 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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