Squarepoint Ops LLC Buys New Position in Neogen Corporation $NEOG

Key Points

• Squarepoint Ops LLC initiated a position in Neogen during the second quarter, purchasing 293,880 shares valued at approximately $2.64 million, or about 0.13% of the company.
• Analyst sentiment is mixed but improving: Piper Sandler upgraded Neogen to “overweight” with a $14 price target, while the broader analyst consensus remains “Hold” with an average target of $12.
• Neogen exceeded quarterly earnings expectations, reporting $0.09 EPS versus the $0.06 consensus and revenue of $225.3 million versus estimates of $212.35 million; institutional investors own 96.73% of the stock.

Squarepoint Ops LLC bought a new stake in Neogen Corporation (NASDAQ:NEOG - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 293,880 shares of the company's stock, valued at approximately $2,642,000. Squarepoint Ops LLC owned approximately 0.13% of Neogen as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Nykredit A S bought a new position in shares of Neogen in the 2nd quarter valued at about $28,000. Public Employees Retirement System of Ohio bought a new position in shares of Neogen during the 2nd quarter worth approximately $34,000. UMB Bank n.a. increased its holdings in shares of Neogen by 238.2% during the 4th quarter. UMB Bank n.a. now owns 6,422 shares of the company's stock worth $45,000 after acquiring an additional 4,523 shares during the last quarter. Hantz Financial Services Inc. raised its stake in 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 acquiring an additional 6,764 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Neogen by 3,158.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 8,309 shares of the company's stock valued at $58,000 after purchasing an additional 8,054 shares during the last quarter. Institutional investors and hedge funds own 96.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on NEOG shares. Wall Street Zen upgraded shares of Neogen from a "buy" rating to a "strong-buy" rating in a report on Saturday. Weiss Ratings raised shares of Neogen from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, August 7th. Finally, Piper Sandler upgraded shares of 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, August 26th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Neogen currently has an average rating of "Hold" and an average price target of $12.00.

Neogen Stock Performance

Shares of NASDAQ NEOG opened at $11.78 on Monday. 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 firm has a market cap of $2.57 billion, a price-to-earnings ratio of -392.67, a P/E/G ratio of 4.42 and a beta of 1.76. The stock's fifty day moving average price is $10.98 and its two-hundred day moving average price is $9.92. Neogen Corporation has a one year low of $4.90 and a one year high of $12.85.

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 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 company had revenue of $225.30 million during the quarter, compared to analysts' expectations of $212.35 million. During the same quarter in the previous year, the business posted ($2.82) earnings per share. Neogen's quarterly revenue was down .1% on a year-over-year basis. On average, equities analysts forecast that Neogen Corporation will post 0.27 EPS for the current year.

Neogen Profile

Neogen Corporation develops and markets products and services designed to protect food, animals and people. The company's offerings help customers detect, prevent and manage biological, chemical and physical hazards across the food production, agricultural and animal care industries.

Its food safety portfolio includes test kits and related technologies for detecting pathogens, allergens, mycotoxins, spoilage organisms, veterinary drug residues and other contaminants. Neogen also provides sanitation and hygiene products, diagnostic tools, laboratory services, software and training for food manufacturers, processors, retailers and other organizations involved in the food supply chain.

Neogen's animal safety business serves livestock, poultry, companion animal and veterinary markets.

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.