Brasada Capital Management LP Makes New $3.06 Million Investment in Neogen Corporation $NEOG

Key Points

• Brasada Capital Management initiated a $3.06 million Neogen position, buying 340,305 shares, while institutional investors collectively own 96.73% of the company.
• Neogen reported quarterly EPS of $0.09, beating the $0.06 consensus, and revenue of $225.3 million versus expectations of $212.35 million, though revenue edged down year over year.
• Analyst sentiment has improved, with Piper Sandler upgrading Neogen to “overweight” and raising its price target to $14; however, the broader consensus remains “Hold” with an average target of $12.

Brasada Capital Management LP bought a new position in shares of Neogen Corporation (NASDAQ:NEOG - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 340,305 shares of the company's stock, valued at approximately $3,059,000. Brasada Capital Management LP owned about 0.16% of Neogen as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NEOG. BlackRock Inc. acquired a new position in shares of Neogen during the second quarter worth approximately $300,545,000. Cibc World Markets Corp bought a new stake in shares of Neogen during the fourth quarter valued at approximately $47,983,000. T. Rowe Price Investment Management Inc. increased its holdings in shares of Neogen by 249.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,181,768 shares of the company's stock valued at $57,191,000 after purchasing an additional 5,838,570 shares in the last quarter. Bamco Inc. NY acquired a new stake in shares of Neogen in the second quarter valued at approximately $45,094,000. Finally, SG Americas Securities LLC raised its position in Neogen by 287.4% in the 1st quarter. SG Americas Securities LLC now owns 6,266,033 shares of the company's stock worth $58,211,000 after purchasing an additional 4,648,436 shares during the last quarter. 96.73% of the stock is currently owned by institutional investors and hedge funds.

Neogen Trading Up 0.3%

Shares of NASDAQ NEOG opened at $11.74 on Friday. The company's 50 day simple moving average is $10.42 and its 200 day simple moving average is $9.85. Neogen Corporation has a fifty-two week low of $4.90 and a fifty-two week high of $12.85. The firm has a market capitalization of $2.56 billion, a P/E ratio of -391.33, a P/E/G ratio of 4.39 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 announced 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 for the quarter, compared to analysts' expectations of $212.35 million. During the same period last year, the firm earned ($2.82) earnings per share. The business's revenue for the quarter was down .1% on a year-over-year basis. On average, analysts predict that Neogen Corporation will post 0.27 EPS for the current year.

Key Headlines Impacting Neogen

Here are the key news stories impacting Neogen this week:

• Positive Sentiment: Piper Sandler upgraded Neogen on new management, suggesting analysts see potential for improved execution and a stronger outlook under the company’s leadership changes. Neogen upgraded at Piper Sandler on new management
• Positive Sentiment: Zacks Research raised several Neogen EPS forecasts: FY2027 estimates increased to $0.25 from $0.21, FY2028 to $0.29 from $0.28, and FY2029 was projected at $0.32. Quarterly estimates for Q2 and Q3 FY2027, Q4 FY2027 and Q3–Q4 FY2028 were also raised, signaling expectations for gradual earnings improvement. These forecasts are broadly in line with or above the current-year consensus of $0.25 EPS.
• Neutral Sentiment: Signal Proxy Intelligence recommended shareholders support all five proposals at Neogen’s annual meeting. The endorsement may reduce governance uncertainty, but it is unlikely to materially change near-term earnings or valuation. Signal Proxy Intelligence Recommends Full Support for All Five Items at Neogen Corporation Annual Meeting
• Neutral Sentiment: A Zacks comparison of Perrigo and Neogen framed the stocks as competing medical-products value investments. The article does not represent a specific change to Neogen’s rating or outlook. PRGO or NEOG: Which Is the Better Value Stock Right Now?
• Negative Sentiment: Zacks lowered its Q1 FY2028 EPS forecast to $0.05 from $0.06, partially offsetting the broader upward revisions. The change suggests some unevenness in the pace of Neogen’s expected earnings recovery.

Analyst Upgrades and Downgrades

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

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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