Bailard Inc. Takes $372,000 Position in Neogen Corporation $NEOG

Bailard Inc. acquired a new stake in shares of Neogen Corporation (NASDAQ:NEOG) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 65,100 shares of the company’s stock, valued at approximately $372,000.

A number of other large investors also recently bought and sold shares of the business. Inspire Investing LLC increased its position in shares of Neogen by 100.2% during the second quarter. Inspire Investing LLC now owns 93,416 shares of the company’s stock worth $447,000 after purchasing an additional 46,753 shares in the last quarter. Grandeur Peak Global Advisors LLC lifted its holdings in Neogen by 27.4% in the second quarter. Grandeur Peak Global Advisors LLC now owns 895,811 shares of the company’s stock valued at $4,282,000 after acquiring an additional 192,426 shares during the period. Bank of Montreal Can grew its position in Neogen by 171.2% during the second quarter. Bank of Montreal Can now owns 110,406 shares of the company’s stock valued at $528,000 after buying an additional 69,703 shares during the period. Values First Advisors Inc. boosted its position in Neogen by 269.6% during the second quarter. Values First Advisors Inc. now owns 109,907 shares of the company’s stock worth $525,000 after purchasing an additional 80,171 shares in the last quarter. Finally, First Citizens Bank & Trust Co. lifted its holdings in Neogen by 260.0% during the second quarter. First Citizens Bank & Trust Co. now owns 63,667 shares of the company’s stock valued at $304,000 after purchasing an additional 45,981 shares in the last quarter. Institutional investors own 96.73% of the company’s stock.

Neogen Stock Performance

NASDAQ:NEOG opened at $9.80 on Friday. The firm’s fifty day simple moving average is $7.30 and its 200 day simple moving average is $6.21. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of -3.54 and a beta of 1.96. The company has a current ratio of 3.91, a quick ratio of 2.80 and a debt-to-equity ratio of 0.38. Neogen Corporation has a twelve month low of $3.87 and a twelve month high of $11.96.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings data on Thursday, January 8th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.03. The company 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%. Neogen’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the company earned $0.11 earnings per share. As a group, equities research analysts expect that Neogen Corporation will post 0.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. CJS Securities raised shares of Neogen from a “market perform” rating to an “outperform” rating and set a $10.00 target price for the company in a report on Wednesday, December 10th. Guggenheim reiterated a “buy” rating and issued a $12.00 price objective (up from $8.00) on shares of Neogen in a research note on Friday, January 9th. Piper Sandler reaffirmed a “neutral” rating and set a $10.00 price objective (up from $6.50) on shares of Neogen in a research report on Monday, January 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Neogen in a research note on Monday, December 29th. Finally, Wall Street Zen lowered shares of Neogen from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Neogen has an average rating of “Hold” and an average target price of $10.67.

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.