Illinois Municipal Retirement Fund Invests $1.17 Million in Neogen Corporation $NEOG

Key Points

• Illinois Municipal Retirement Fund bought 126,139 shares of Neogen in the first quarter, a position valued at about $1.17 million, according to its latest 13F filing.
• Other institutional investors have also been active in the stock, and hedge funds and institutions now own 96.73% of Neogen’s shares.
• Analysts remain mixed on Neogen: the stock currently has a Hold consensus rating with an average price target of $10.67, while shares recently traded at $9.83.

Illinois Municipal Retirement Fund purchased a new position in shares of Neogen Corporation (NASDAQ:NEOG - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 126,139 shares of the company's stock, valued at approximately $1,172,000. Illinois Municipal Retirement Fund owned about 0.06% of Neogen as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its stake in shares of Neogen by 19.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,680,212 shares of the company's stock valued at $9,594,000 after purchasing an additional 278,886 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Neogen by 929.6% during the fourth quarter. SG Americas Securities LLC now owns 1,617,597 shares of the company's stock worth $11,307,000 after purchasing an additional 1,460,488 shares during the last quarter. Round Rock Advisors LLC raised its stake in shares of Neogen by 520.8% during the fourth quarter. Round Rock Advisors LLC now owns 156,967 shares of the company's stock worth $1,097,000 after purchasing an additional 131,684 shares during the last quarter. Perkins Capital Management Inc. acquired a new stake in shares of Neogen during the fourth quarter worth $1,253,000. Finally, Mizuho Markets Americas LLC lifted its holdings in shares of Neogen by 75.0% during the fourth quarter. Mizuho Markets Americas LLC now owns 3,500,000 shares of the company's stock worth $24,465,000 after purchasing an additional 1,500,000 shares during the period. Institutional investors and hedge funds own 96.73% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on NEOG shares. Wall Street Zen raised shares of Neogen from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Weiss Ratings restated a "sell (d-)" rating on shares of Neogen in a research note on Wednesday, July 8th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $10.67.

Neogen Stock Performance

NASDAQ NEOG opened at $9.83 on Thursday. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of -3.51, a PEG ratio of 4.45 and a beta of 1.80. The business's 50 day moving average is $9.23 and its two-hundred day moving average is $9.53. Neogen Corporation has a 12-month low of $4.56 and a 12-month high of $11.43. The company has a current ratio of 3.92, a quick ratio of 2.84 and a debt-to-equity ratio of 0.38.

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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