Teton Advisors LLC Makes New Investment in Neogen Corporation $NEOG

Key Points

• Teton Advisors LLC bought a new stake of 186,160 shares in Neogen (NASDAQ:NEOG) in Q3 valued at about $1.06M, and institutional investors now own roughly 96.73% of the company.
• Neogen beat the quarter's estimates with $0.10 EPS (vs. $0.07 expected) and $224.69M in revenue (vs. $208.5M), but revenue was down 2.9% year‑over‑year and the company posted a deeply negative net margin (‑68.47%); the stock was down 9.3%, opening at $9.70.
• Analyst sentiment is mixed: the consensus rating is Hold with an average target price of $10.67 (2 Buy, 3 Hold, 1 Sell).

Teton Advisors LLC purchased a new stake in Neogen Corporation (NASDAQ:NEOG - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 186,160 shares of the company's stock, valued at approximately $1,063,000. Teton Advisors LLC owned 0.09% of Neogen as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Savant Capital LLC bought a new stake in shares of Neogen in the second quarter worth $50,000. Cresset Asset Management LLC bought a new position in Neogen during the 2nd quarter worth $53,000. Evergreen Capital Management LLC acquired a new position in Neogen during the 2nd quarter worth about $56,000. Plan A Wealth LLC bought a new stake in shares of Neogen in the 3rd quarter valued at about $68,000. Finally, Drive Wealth Management LLC bought a new stake in shares of Neogen in the 3rd quarter valued at about $68,000. Institutional investors own 96.73% of the company's stock.

Neogen Stock Down 9.3%

Shares of Neogen stock opened at $9.70 on Friday. The stock's 50-day moving average is $9.87 and its 200 day moving average is $7.38. Neogen Corporation has a one year low of $3.87 and a one year high of $11.43. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of -3.50 and a beta of 1.95. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.91 and a quick ratio of 2.80.

Neogen (NASDAQ:NEOG - Get Free Report) last issued its earnings results on Thursday, January 8th. The company reported $0.10 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $208.50 million. During the same period in the previous year, the company posted $0.11 earnings per share. The firm's revenue for the quarter was down 2.9% on a year-over-year basis. Equities research analysts anticipate that Neogen Corporation will post 0.38 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on NEOG. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Neogen in a research note on Monday, December 29th. CJS Securities raised shares of Neogen from a "market perform" rating to an "outperform" rating and set a $10.00 target price for the company in a research report on Wednesday, December 10th. Wall Street Zen upgraded shares of Neogen from a "hold" rating to a "buy" rating in a research report on Saturday, February 14th. Piper Sandler reaffirmed a "neutral" rating and issued a $10.00 price objective (up from $6.50) on shares of Neogen in a research note on Monday, January 12th. Finally, Guggenheim reiterated a "buy" rating and set a $12.00 price objective (up from $8.00) on shares of Neogen in a research report on Friday, January 9th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $10.67.

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.

Want to see what other hedge funds are holding NEOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Neogen Corporation (NASDAQ:NEOG - Free Report).

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.