Neogen Corporation $NEOG Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. trimmed its stake in shares of Neogen Corporation (NASDAQ:NEOG) by 0.7% in the 4th quarter, HoldingsChannel reports. The firm owned 23,801,905 shares of the company’s stock after selling 161,318 shares during the period. Vanguard Group Inc. owned approximately 0.11% of Neogen worth $166,375,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of NEOG. State of Alaska Department of Revenue lifted its holdings in shares of Neogen by 1.2% in the 4th quarter. State of Alaska Department of Revenue now owns 110,645 shares of the company’s stock valued at $773,000 after purchasing an additional 1,353 shares during the last quarter. Evergreen Capital Management LLC increased its position in Neogen by 12.3% in the 4th quarter. Evergreen Capital Management LLC now owns 13,753 shares of the company’s stock valued at $96,000 after acquiring an additional 1,504 shares during the period. California State Teachers Retirement System increased its position in Neogen by 1.1% in the 2nd quarter. California State Teachers Retirement System now owns 191,084 shares of the company’s stock valued at $913,000 after acquiring an additional 2,166 shares during the period. Sage Rhino Capital LLC increased its position in Neogen by 25.2% in the 3rd quarter. Sage Rhino Capital LLC now owns 16,618 shares of the company’s stock valued at $95,000 after acquiring an additional 3,343 shares during the period. Finally, Mercer Global Advisors Inc. ADV increased its position in Neogen by 27.8% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 16,199 shares of the company’s stock valued at $92,000 after acquiring an additional 3,522 shares during the period. 96.73% of the stock is owned by hedge funds and other institutional investors.

Neogen Price Performance

NEOG stock opened at $9.05 on Monday. Neogen Corporation has a 1 year low of $4.53 and a 1 year high of $11.43. The firm has a market cap of $1.97 billion, a P/E ratio of -3.23, a PEG ratio of 3.93 and a beta of 1.84. The stock’s 50 day moving average price is $9.58 and its 200 day moving average price is $8.47. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.84 and a current ratio of 3.92.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings results on Thursday, April 9th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The company had revenue of $211.20 million for the quarter, compared to analyst estimates of $204.62 million. Neogen had a positive return on equity of 2.35% and a negative net margin of 69.93%.The company’s quarterly revenue was down 4.4% on a year-over-year basis. On average, sell-side analysts expect that Neogen Corporation will post 0.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Neogen in a research report on Friday, April 10th. Wall Street Zen upgraded Neogen from a “hold” rating to a “buy” rating in a research report on Saturday. Piper Sandler reiterated a “neutral” rating and set a $10.00 target price (up from $6.50) on shares of Neogen in a research report on Monday, January 12th. Finally, William Blair reiterated a “market perform” rating on shares of Neogen in a research report on Monday, March 2nd. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Neogen currently has a consensus rating of “Hold” and a consensus 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.