Bank of America Corp DE lowered its stake in Neogen Corporation (NASDAQ:NEOG - Free Report) by 14.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,640,534 shares of the company's stock after selling 770,275 shares during the quarter. Bank of America Corp DE owned 2.13% of Neogen worth $43,111,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. UMB Bank n.a. raised its holdings in shares of Neogen by 238.2% during the fourth quarter. UMB Bank n.a. now owns 6,422 shares of the company's stock valued at $45,000 after purchasing an additional 4,523 shares during the period. Hantz Financial Services Inc. grew its stake in shares of Neogen by 816.9% in the 4th quarter. Hantz Financial Services Inc. now owns 7,592 shares of the company's stock valued at $53,000 after buying an additional 6,764 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in Neogen by 3,158.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 8,309 shares of the company's stock valued at $58,000 after buying an additional 8,054 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in Neogen in the 4th quarter valued at about $65,000. Finally, Merit Financial Group LLC acquired a new position in Neogen during the 4th quarter worth approximately $71,000. Institutional investors and hedge funds own 96.73% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on NEOG. Wall Street Zen raised Neogen from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Weiss Ratings raised Neogen from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, August 7th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $13.00 target price (up from $11.00) on shares of Neogen in a report on Monday, August 3rd. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Neogen currently has a consensus rating of "Hold" and an average target price of $11.67.
Check Out Our Latest Analysis on Neogen
Neogen Price Performance
Shares of NASDAQ NEOG opened at $11.46 on Thursday. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of -382.00, a PEG ratio of 4.54 and a beta of 1.77. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.91 and a current ratio of 3.82. Neogen Corporation has a fifty-two week low of $4.90 and a fifty-two week high of $12.85. The firm's 50-day simple moving average is $9.84 and its 200 day simple moving average is $9.74.
Neogen (NASDAQ:NEOG - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.09 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.03. The firm had revenue of $225.30 million during the quarter, compared to analyst estimates of $212.35 million. Neogen had a positive return on equity of 2.78% and a negative net margin of 0.91%.The company's revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the company posted ($2.82) EPS. As a group, research analysts anticipate that Neogen Corporation will post 0.25 earnings per share for the current fiscal year.
Neogen Profile
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Free Report)
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.
Further Reading
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