Intech Investment Management LLC Grows Position in Neogen Corporation $NEOG

Intech Investment Management LLC raised its position in shares of Neogen Corporation (NASDAQ:NEOG) by 97.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 252,368 shares of the company’s stock after buying an additional 124,616 shares during the quarter. Intech Investment Management LLC owned about 0.12% of Neogen worth $1,764,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Huntington National Bank boosted its holdings in shares of Neogen by 8.4% in the 4th quarter. Huntington National Bank now owns 13,552 shares of the company’s stock worth $95,000 after purchasing an additional 1,045 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Neogen by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 5,428,084 shares of the company’s stock worth $37,949,000 after purchasing an additional 48,009 shares during the period. Hantz Financial Services Inc. boosted its holdings in shares of Neogen by 816.9% in the 4th quarter. Hantz Financial Services Inc. now owns 7,592 shares of the company’s stock worth $53,000 after purchasing an additional 6,764 shares during the period. Mizuho Markets Americas LLC boosted its holdings in shares of Neogen by 75.0% in the 4th quarter. Mizuho Markets Americas LLC now owns 3,500,000 shares of the company’s stock worth $24,465,000 after purchasing an additional 1,500,000 shares during the period. Finally, Bastion Asset Management Inc. purchased a new position in shares of Neogen in the 4th quarter worth approximately $1,736,000. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on NEOG shares. Weiss Ratings restated a “sell (d-)” rating on shares of Neogen in a report on Friday, April 10th. William Blair restated a “market perform” rating on shares of Neogen in a report on Monday, March 2nd. Finally, Wall Street Zen upgraded Neogen from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.67.

Neogen Trading Up 3.5%

Shares of NASDAQ NEOG opened at $9.12 on Friday. The company has a quick ratio of 2.84, a current ratio of 3.92 and a debt-to-equity ratio of 0.38. The business has a fifty day simple moving average of $9.17 and a two-hundred day simple moving average of $8.84. The firm has a market cap of $1.99 billion, a PE ratio of -3.26, a price-to-earnings-growth ratio of 3.94 and a beta of 1.80. Neogen Corporation has a twelve month low of $4.56 and a twelve month high of $11.43.

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

Neogen Company 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.