Paradigm Capital Management Inc. NY Invests $467,000 in Neogen Corporation $NEOG

Paradigm Capital Management Inc. NY purchased a new stake in Neogen Corporation (NASDAQ:NEOG) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 52,000 shares of the company’s stock, valued at approximately $467,000.

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

Neogen Stock Performance

Shares of NEOG opened at $11.60 on Tuesday. The firm has a market cap of $2.53 billion, a price-to-earnings ratio of -386.67, a price-to-earnings-growth ratio of 4.72 and a beta of 1.76. The company’s fifty day moving average is $10.27 and its 200-day moving average is $9.83. The company has a quick ratio of 2.91, a current ratio of 3.82 and a debt-to-equity ratio of 0.38. 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 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. Neogen had a positive return on equity of 2.78% and a negative net margin of 0.91%.The company had revenue of $225.30 million during the quarter, compared to analysts’ expectations of $212.35 million. During the same quarter in the previous year, the firm earned ($2.82) earnings per share. The business’s quarterly revenue was down .1% compared to the same quarter last year. Equities analysts expect that Neogen Corporation will post 0.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on NEOG shares. Piper Sandler restated a “neutral” rating and set a $13.00 price objective (up from $11.00) on shares of Neogen in a research report on Monday, August 3rd. Weiss Ratings upgraded shares of Neogen from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 7th. Finally, Wall Street Zen raised shares of Neogen from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price 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.