Expect Equity LLC Acquires Shares of 168,254 Neogen Corporation $NEOG

Expect Equity LLC acquired a new position in Neogen Corporation (NASDAQ:NEOG) in the 2nd quarter, Holdings Channel reports. The firm acquired 168,254 shares of the company’s stock, valued at approximately $1,513,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sei Investments Co. raised its stake in Neogen by 69.1% in the first quarter. Sei Investments Co. now owns 230,403 shares of the company’s stock worth $2,141,000 after buying an additional 94,148 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Neogen during the 1st quarter valued at approximately $2,980,000. Roubaix Capital LLC bought a new stake in Neogen during the 1st quarter valued at approximately $4,630,000. Granahan Investment Management LLC purchased a new position in shares of Neogen during the 1st quarter worth approximately $2,323,000. Finally, Bessemer Group Inc. grew its holdings in shares of Neogen by 160,972.5% during the 1st quarter. Bessemer Group Inc. now owns 1,565,625 shares of the company’s stock worth $14,545,000 after acquiring an additional 1,564,653 shares during the period. 96.73% of the stock is owned by hedge funds and other institutional investors.

Neogen Trading Up 0.3%

Neogen stock opened at $11.64 on Wednesday. The company has a current ratio of 3.82, a quick ratio of 2.91 and a debt-to-equity ratio of 0.38. The business’s fifty day simple moving average is $10.31 and its two-hundred day simple moving average is $9.84. Neogen Corporation has a 12 month low of $4.90 and a 12 month high of $12.85. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of -388.00, a price-to-earnings-growth ratio of 4.58 and a beta of 1.77.

Neogen (NASDAQ:NEOG) last released its earnings results on Thursday, July 30th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The firm had revenue of $225.30 million for the quarter, compared to analysts’ expectations of $212.35 million. Neogen had a positive return on equity of 2.78% and a negative net margin of 0.91%.The company’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the prior year, the firm posted ($2.82) earnings per share. As a group, equities analysts predict that Neogen Corporation will post 0.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Piper Sandler reissued a “neutral” rating and issued a $13.00 target price (up from $11.00) on shares of Neogen in a research report on Monday, August 3rd. Wall Street Zen raised Neogen from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings upgraded Neogen from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 7th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $11.67.

About Neogen

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.