UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $3.87 Million Holdings in Neogen Corporation $NEOG

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Neogen Corporation (NASDAQ:NEOG) by 19.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 430,156 shares of the company’s stock after buying an additional 70,360 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.20% of Neogen worth $3,867,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Neogen during the 2nd quarter worth approximately $300,545,000. Dimensional Fund Advisors LP increased its stake in shares of Neogen by 23.4% in the first quarter. Dimensional Fund Advisors LP now owns 9,132,021 shares of the company’s stock valued at $84,831,000 after buying an additional 1,733,767 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of Neogen by 249.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,181,768 shares of the company’s stock valued at $57,191,000 after buying an additional 5,838,570 shares during the last quarter. Mackenzie Financial Corp lifted its position in Neogen by 1.0% during the 4th quarter. Mackenzie Financial Corp now owns 7,898,439 shares of the company’s stock worth $55,574,000 after buying an additional 79,010 shares in the last quarter. Finally, Cibc World Markets Corp bought a new stake in Neogen during the 4th quarter worth about $47,983,000. Institutional investors own 96.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NEOG. Piper Sandler upgraded shares of Neogen from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $13.00 to $14.00 in a research report on Wednesday, August 26th. Weiss Ratings raised shares of Neogen from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 7th. Three investment 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. According to MarketBeat.com, Neogen currently has a consensus rating of “Hold” and a consensus price target of $12.00.

Neogen Price Performance

Neogen stock opened at $11.92 on Thursday. The business’s 50-day simple moving average is $10.88 and its 200 day simple moving average is $9.91. The company has a quick ratio of 2.91, a current ratio of 3.82 and a debt-to-equity ratio of 0.38. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of -397.33, a P/E/G ratio of 4.46 and a beta of 1.76. Neogen Corporation has a 12-month low of $4.90 and a 12-month high of $12.85.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.03. The firm had revenue of $225.30 million during 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% compared to the same quarter last year. During the same period in the previous year, the business posted ($2.82) EPS. As a group, research analysts anticipate that Neogen Corporation will post 0.27 earnings per share for the current year.

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.