Heartland Advisors Inc. Buys Shares of 1,000,000 Neogen Corporation $NEOG

Heartland Advisors Inc. bought a new stake in Neogen Corporation (NASDAQ:NEOG) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 1,000,000 shares of the company’s stock, valued at approximately $6,990,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Huntington National Bank grew its stake in Neogen by 8.4% in the fourth quarter. Huntington National Bank now owns 13,552 shares of the company’s stock valued at $95,000 after purchasing an additional 1,045 shares during the last quarter. ProShare Advisors LLC boosted its holdings in Neogen by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 42,509 shares of the company’s stock worth $297,000 after acquiring an additional 1,331 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in Neogen by 1.2% in the fourth quarter. State of Alaska Department of Revenue now owns 110,645 shares of the company’s stock worth $773,000 after acquiring an additional 1,353 shares in the last quarter. Evergreen Capital Management LLC boosted its holdings in Neogen by 12.3% in the fourth quarter. Evergreen Capital Management LLC now owns 13,753 shares of the company’s stock worth $96,000 after acquiring an additional 1,504 shares in the last quarter. Finally, California State Teachers Retirement System boosted its holdings in Neogen by 1.1% in the second quarter. California State Teachers Retirement System now owns 191,084 shares of the company’s stock worth $913,000 after acquiring an additional 2,166 shares in the last quarter. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Neogen Price Performance

Shares of NASDAQ NEOG opened at $9.17 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.84 and a current ratio of 3.92. The company has a market cap of $2.00 billion, a PE ratio of -3.28, a P/E/G ratio of 4.16 and a beta of 1.80. The business has a 50-day simple moving average of $9.18 and a two-hundred day simple moving average of $8.93. Neogen Corporation has a fifty-two week low of $4.56 and a fifty-two week high of $11.43.

Neogen (NASDAQ:NEOG) last released its earnings results on Thursday, April 9th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. Neogen had a positive return on equity of 2.35% and a negative net margin of 69.93%.The firm had revenue of $211.20 million during the quarter, compared to the consensus estimate of $204.62 million. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, equities analysts expect that Neogen Corporation will post 0.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NEOG has been the subject of several recent analyst reports. Wall Street Zen raised Neogen from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. William Blair reissued a “market perform” rating on shares of Neogen in a report on Monday, March 2nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Neogen in a report on Friday, April 10th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company 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.