Neogen Corporation $NEOG Shares Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board boosted its holdings in shares of Neogen Corporation (NASDAQ:NEOG) by 26.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 847,266 shares of the company’s stock after buying an additional 174,962 shares during the period. Public Sector Pension Investment Board’s holdings in Neogen were worth $4,838,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. ING Groep NV purchased a new stake in shares of Neogen during the third quarter worth $80,288,000. Clarkston Capital Partners LLC increased its holdings in Neogen by 123.2% during the 2nd quarter. Clarkston Capital Partners LLC now owns 14,005,725 shares of the company’s stock worth $66,947,000 after purchasing an additional 7,729,650 shares during the period. Norges Bank acquired a new stake in Neogen in the 2nd quarter valued at about $43,387,000. Mackenzie Financial Corp boosted its stake in shares of Neogen by 0.7% in the 2nd quarter. Mackenzie Financial Corp now owns 7,813,079 shares of the company’s stock valued at $37,347,000 after buying an additional 54,590 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Neogen by 0.8% during the second quarter. Geode Capital Management LLC now owns 5,142,743 shares of the company’s stock worth $24,585,000 after buying an additional 41,193 shares in the last quarter. Institutional investors and hedge funds own 96.73% of the company’s stock.

Wall Street Analyst Weigh In

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

Neogen Stock Down 1.5%

Shares of NASDAQ:NEOG opened at $10.98 on Friday. The firm has a 50 day simple moving average of $9.02 and a 200-day simple moving average of $6.93. Neogen Corporation has a twelve month low of $3.87 and a twelve month high of $11.23. The company has a current ratio of 3.91, a quick ratio of 2.80 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $2.39 billion, a PE ratio of -3.96 and a beta of 1.98.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings results on Thursday, January 8th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.07 by $0.03. Neogen had a negative net margin of 68.47% and a positive return on equity of 2.14%. The firm had revenue of $224.69 million for the quarter, compared to analyst estimates of $208.50 million. During the same period last year, the business earned $0.11 EPS. Neogen’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, equities analysts predict that Neogen Corporation will post 0.38 EPS for the current fiscal year.

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.