Nisa Investment Advisors LLC Has $148,000 Stake in Neogen Corporation $NEOG

Nisa Investment Advisors LLC lowered its position in shares of Neogen Corporation (NASDAQ:NEOG) by 79.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,884 shares of the company’s stock after selling 102,152 shares during the period. Nisa Investment Advisors LLC’s holdings in Neogen were worth $148,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. AQR Capital Management LLC increased its stake in shares of Neogen by 217.0% in the first quarter. AQR Capital Management LLC now owns 52,410 shares of the company’s stock valued at $443,000 after buying an additional 35,878 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Neogen by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 129,813 shares of the company’s stock worth $1,125,000 after acquiring an additional 5,638 shares during the last quarter. Jones Financial Companies Lllp increased its position in Neogen by 5,687.3% in the 1st quarter. Jones Financial Companies Lllp now owns 33,393 shares of the company’s stock valued at $290,000 after acquiring an additional 32,816 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Neogen by 14.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,678,493 shares of the company’s stock valued at $14,553,000 after acquiring an additional 209,990 shares during the last quarter. Finally, United Services Automobile Association acquired a new position in shares of Neogen during the first quarter worth $112,000. 96.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Neogen Stock Down 2.2%

Neogen stock opened at $9.25 on Monday. The company has a market capitalization of $2.01 billion, a PE ratio of -3.34 and a beta of 1.96. Neogen Corporation has a 12-month low of $3.87 and a 12-month high of $12.07. The firm’s fifty day moving average is $6.97 and its 200 day moving average is $6.06. The company has a quick ratio of 2.80, a current ratio of 3.91 and a debt-to-equity ratio of 0.38.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings results on Thursday, January 8th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.03. The firm had revenue of $224.69 million during the quarter, compared to the consensus estimate of $208.50 million. Neogen had a negative net margin of 68.47% and a positive return on equity of 2.14%. The business’s revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.11 earnings per share. As a group, sell-side 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.