Neogen Corporation $NEOG Stock Position Boosted by King Luther Capital Management Corp

King Luther Capital Management Corp boosted its position in shares of Neogen Corporation (NASDAQ:NEOG) by 31.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,411,153 shares of the company’s stock after purchasing an additional 577,950 shares during the quarter. King Luther Capital Management Corp owned about 1.10% of Neogen worth $30,863,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new position in Neogen in the second quarter worth about $300,545,000. Bamco Inc. NY purchased a new stake in shares of Neogen during the second quarter valued at $45,094,000. Cibc World Market Inc. purchased a new stake in shares of Neogen during the 2nd quarter valued at about $31,469,000. Bank of America Corp DE purchased a new stake in shares of Neogen during the 2nd quarter valued at about $28,280,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Neogen by 23.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,132,021 shares of the company’s stock valued at $84,831,000 after acquiring an additional 1,733,767 shares during the last quarter. 96.73% of the stock is currently owned by institutional investors.

Neogen Stock Down 0.6%

Neogen stock opened at $11.60 on Thursday. Neogen Corporation has a one year low of $5.37 and a one year high of $14.26. The stock has a fifty day moving average of $12.26 and a 200 day moving average of $10.51. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.92 and a current ratio of 3.90. The stock has a market cap of $2.53 billion, a PE ratio of -46.40, a price-to-earnings-growth ratio of 4.17 and a beta of 1.86.

Neogen (NASDAQ:NEOG) last announced its earnings results on Tuesday, October 6th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03. The business had revenue of $222.80 million for the quarter, compared to analysts’ expectations of $208.18 million. Neogen had a positive return on equity of 3.29% and a negative net margin of 6.35%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the firm posted $0.04 earnings per share. As a group, sell-side analysts predict that Neogen Corporation will post 0.28 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wall Street Zen cut shares of Neogen from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Neogen in a research report on Wednesday, November 4th. Guggenheim restated a “buy” rating and issued a $14.00 target price (up from $12.00) on shares of Neogen in a report on Wednesday, September 30th. Finally, Piper Sandler raised shares of Neogen from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $13.00 to $14.00 in a research report on Wednesday, August 26th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $12.67.

About Neogen

Neogen Corporation develops and markets products and services focused on food and animal safety. Its offerings help food producers, processors, laboratories and livestock producers detect risks, support animal health and meet safety and quality requirements. Neogen’s food safety products include tests for foodborne pathogens, allergens, toxins and sanitation indicators, as well as related laboratory supplies and services. Its animal safety offerings include veterinary instruments, animal health products, biosecurity solutions and genetic testing services for livestock.