BlackRock Inc. Invests $300.55 Million in Neogen Corporation $NEOG

Key Points

• BlackRock initiated a major Neogen position in the second quarter, purchasing 33.43 million shares worth approximately $300.5 million and acquiring a 15.33% stake. Institutional investors collectively own 96.73% of the company.
• Neogen beat quarterly expectations, reporting EPS of $0.09 versus the $0.06 consensus and revenue of $225.3 million versus estimates of $212.35 million, though revenue declined slightly year over year and net margin remained negative.
• Analyst sentiment improved, with Piper Sandler upgrading the stock to “overweight” and raising its price target to $14; however, the broader analyst consensus remains “Hold,” with an average target of $12.00.

BlackRock Inc. bought a new stake in shares of Neogen Corporation (NASDAQ:NEOG - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 33,431,015 shares of the company's stock, valued at approximately $300,545,000. BlackRock Inc. owned 15.33% of Neogen as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Huntington National Bank lifted its stake in Neogen by 8.4% in the fourth quarter. Huntington National Bank now owns 13,552 shares of the company's stock worth $95,000 after acquiring an additional 1,045 shares during the period. ProShare Advisors LLC increased its position in Neogen by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 42,509 shares of the company's stock valued at $297,000 after purchasing an additional 1,331 shares during the period. Evergreen Capital Management LLC increased its position in Neogen by 12.3% during the 4th quarter. Evergreen Capital Management LLC now owns 13,753 shares of the company's stock valued at $96,000 after purchasing an additional 1,504 shares during the period. Mercer Global Advisors Inc. ADV increased its position in shares of Neogen by 10.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 17,837 shares of the company's stock valued at $125,000 after buying an additional 1,638 shares during the period. Finally, Values First Advisors Inc. increased its position in shares of Neogen by 2.2% during the first quarter. Values First Advisors Inc. now owns 90,238 shares of the company's stock valued at $838,000 after buying an additional 1,917 shares during the period. Institutional investors own 96.73% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Wall Street Zen upgraded shares of Neogen from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Weiss Ratings upgraded Neogen from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, August 7th. Finally, Piper Sandler upgraded Neogen from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $13.00 to $14.00 in a report on Wednesday. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $12.00.

Neogen Price Performance

NASDAQ NEOG opened at $11.70 on Thursday. Neogen Corporation has a 1-year low of $4.90 and a 1-year high of $12.85. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of -390.00, a PEG ratio of 4.59 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. The business's fifty day moving average price is $10.37 and its 200-day moving average price is $9.85.

Neogen (NASDAQ:NEOG - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $225.30 million during the quarter, compared to analyst estimates of $212.35 million. During the same period in the previous year, the business posted ($2.82) earnings per share. The firm's quarterly revenue was down .1% compared to the same quarter last year. On average, equities analysts predict that Neogen Corporation will post 0.25 earnings per share for the current year.

Key Neogen News

Here are the key news stories impacting Neogen this week:

• Positive Sentiment: Piper Sandler upgraded Neogen on new management. The brokerage’s improved view suggests investors may expect management changes to improve execution, profitability, or growth. Neogen upgraded at Piper Sandler on new management
• Positive Sentiment: Zacks Research raised several future EPS forecasts. Estimates increased for the second and third quarters of fiscal 2027, the fourth quarter of fiscal 2027, and the third and fourth quarters of fiscal 2028. The full-year fiscal 2028 forecast also rose to $0.29 per share from $0.28, indicating modestly better expected earnings momentum. The current-year consensus remains $0.25 per share.
• Positive Sentiment: Neogen is receiving attention from value-oriented investors. A Zacks comparison of Neogen and Perrigo highlights investor interest in the medical-products sector and could increase visibility for NEOG among investors seeking a relatively attractive valuation. PRGO or NEOG: Which Is the Better Value Stock Right Now?
• Neutral Sentiment: Analysts’ price target is near the recent trading level. The reported consensus target of $11.67 suggests limited near-term upside based on that estimate, although targets can change following the Piper Sandler upgrade. Analysts Set Neogen Corporation PT at $11.67
• Neutral Sentiment: Short-interest data provides no meaningful signal. The report lists zero shares sold short and a zero-day short ratio, figures that appear anomalous and do not indicate either significant short-covering potential or notable bearish positioning.
• Negative Sentiment: Not all forecasts improved. Zacks lowered its fiscal first-quarter 2028 EPS estimate to $0.05 from $0.06, signaling that the earnings outlook remains uneven despite the broader upward revisions.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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