Jefferies Financial Group Inc. Acquires Shares of 163,853 Neogen Corporation $NEOG

Jefferies Financial Group Inc. bought a new position in shares of Neogen Corporation (NASDAQ:NEOG) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 163,853 shares of the company’s stock, valued at approximately $1,473,000. Jefferies Financial Group Inc. owned about 0.08% of Neogen as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in NEOG. Public Employees Retirement System of Ohio bought a new position in Neogen during the second quarter worth $34,000. UMB Bank n.a. raised its holdings in shares of Neogen by 238.2% during the fourth quarter. UMB Bank n.a. now owns 6,422 shares of the company’s stock worth $45,000 after purchasing an additional 4,523 shares during the period. Hantz Financial Services Inc. raised its holdings in shares of Neogen by 816.9% during the fourth quarter. Hantz Financial Services Inc. now owns 7,592 shares of the company’s stock worth $53,000 after purchasing an additional 6,764 shares during the period. Cresset Asset Management LLC bought a new position in shares of Neogen in the 2nd quarter worth about $53,000. Finally, Evergreen Capital Management LLC bought a new position in shares of Neogen in the 2nd quarter worth about $56,000. 96.73% of the stock is currently owned by institutional investors.

Neogen Price Performance

NASDAQ NEOG opened at $11.66 on Friday. Neogen Corporation has a 12 month low of $4.90 and a 12 month high of $12.85. The firm has a market capitalization of $2.54 billion, a PE ratio of -388.67, a P/E/G ratio of 4.37 and a beta of 1.77. The company’s 50 day simple moving average is $10.47 and its 200 day simple moving average is $9.87. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.82 and a quick ratio of 2.91.

Neogen (NASDAQ:NEOG) last released its earnings results on Thursday, July 30th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The firm had revenue of $225.30 million during the quarter, compared to the consensus estimate of $212.35 million. Neogen had a positive return on equity of 2.78% and a negative net margin of 0.91%.The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($2.82) earnings per share. As a group, equities research analysts forecast that Neogen Corporation will post 0.27 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on NEOG. Weiss Ratings upgraded shares of Neogen from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 7th. Wall Street Zen upgraded Neogen from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Piper Sandler raised Neogen from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $13.00 to $14.00 in a report on Wednesday. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Neogen has a consensus rating of “Hold” and an average price target of $12.00.

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.