SG Americas Securities LLC Purchases 1,460,488 Shares of Neogen Corporation $NEOG

Key Points

• SG Americas Securities LLC increased its stake in Neogen by 929.6% in Q4, purchasing 1,460,488 shares to hold 1,617,597 shares (about 0.74% of the company) valued at roughly $11.31 million.
• Neogen beat Q4 estimates—EPS $0.10 vs. $0.07 and revenue $224.69M vs. $208.5M—but remains unprofitable with a negative net margin of 68.47%; the stock has a $1.89B market cap and is trading near $8.70 (1‑year range $3.87–$11.43).
• Institutional ownership is very high at 96.73%, and analyst sentiment is mixed (two Buy, three Hold, one Sell) with an average "Hold" rating and a $10.67 average target, while some firms (e.g., Guggenheim, Wall Street Zen, CJS) have recently raised ratings or targets.

SG Americas Securities LLC boosted its position in shares of Neogen Corporation (NASDAQ:NEOG - Free Report) by 929.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,617,597 shares of the company's stock after acquiring an additional 1,460,488 shares during the period. SG Americas Securities LLC owned 0.74% of Neogen worth $11,307,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of NEOG. GAMMA Investing LLC grew its holdings in Neogen by 34.2% in the fourth quarter. GAMMA Investing LLC now owns 31,347 shares of the company's stock worth $219,000 after purchasing an additional 7,982 shares during the last quarter. JPMorgan Chase & Co. boosted its position 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 worth $9,594,000 after purchasing an additional 278,886 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in Neogen during the 3rd quarter worth $62,000. Hudson Bay Capital Management LP acquired a new position in Neogen during the 3rd quarter valued at about $28,550,000. Finally, CIBC Bancorp USA Inc. acquired a new position in Neogen during the 3rd quarter valued at about $28,969,000. 96.73% of the stock is currently owned by institutional investors and hedge funds.

Neogen Stock Performance

Shares of NEOG opened at $8.70 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.80 and a current ratio of 3.91. The stock has a 50-day moving average of $10.14 and a two-hundred day moving average of $7.77. The stock has a market cap of $1.89 billion, a P/E ratio of -3.14 and a beta of 1.95. Neogen Corporation has a one year low of $3.87 and a one year high of $11.43.

Neogen (NASDAQ:NEOG - Get Free Report) last announced its quarterly earnings data on Thursday, January 8th. The company reported $0.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.03. Neogen had a positive return on equity of 2.14% and a negative net margin of 68.47%.The business had revenue of $224.69 million for the quarter, compared to analyst estimates of $208.50 million. During the same period in the prior year, the company earned $0.11 earnings per share. The company's revenue was down 2.9% on a year-over-year basis. As a group, research analysts predict that Neogen Corporation will post 0.38 EPS for the current year.

Analyst Ratings Changes

NEOG has been the subject of several recent analyst reports. Wall Street Zen raised Neogen from a "hold" rating to a "buy" rating in a report on Saturday, February 14th. William Blair restated a "market perform" rating on shares of Neogen in a report on Monday, March 2nd. CJS Securities raised shares of Neogen from a "market perform" rating to an "outperform" rating and set a $10.00 price objective for the company in a research report on Wednesday, December 10th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Neogen in a research note on Monday, December 29th. Finally, Guggenheim reissued a "buy" rating and set a $12.00 target price (up from $8.00) on shares of Neogen in a research report on Friday, January 9th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $10.67.

Neogen Company 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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