Blair William & Co. IL Decreases Stake in Neogen Corporation $NEOG

Blair William & Co. IL cut its stake in shares of Neogen Corporation (NASDAQ:NEOG) by 16.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 427,489 shares of the company’s stock after selling 87,114 shares during the quarter. Blair William & Co. IL owned about 0.20% of Neogen worth $2,441,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Savant Capital LLC purchased a new stake in Neogen during the second quarter worth about $50,000. Cresset Asset Management LLC acquired a new position in Neogen during the second quarter worth about $53,000. Evergreen Capital Management LLC purchased a new position in Neogen in the second quarter valued at about $56,000. Plan A Wealth LLC purchased a new position in Neogen in the 3rd quarter valued at approximately $68,000. Finally, Drive Wealth Management LLC purchased a new position in shares of Neogen in the third quarter valued at $68,000. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Neogen Price Performance

Neogen stock opened at $9.35 on Friday. The stock has a market capitalization of $2.03 billion, a P/E ratio of -3.38 and a beta of 1.95. Neogen Corporation has a 12-month low of $3.87 and a 12-month high of $11.43. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.91 and a quick ratio of 2.80. The firm’s 50-day moving average is $10.08 and its two-hundred day moving average is $7.49.

Neogen (NASDAQ:NEOG) last announced 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 business had revenue of $224.69 million for 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 company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.11 earnings per share. Equities analysts predict that Neogen Corporation will post 0.38 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on NEOG. Guggenheim reaffirmed a “buy” rating and set a $12.00 price target (up from $8.00) on shares of Neogen in a research note on Friday, January 9th. Wall Street Zen raised shares of Neogen from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Piper Sandler restated a “neutral” rating and set a $10.00 target price (up from $6.50) on shares of Neogen in a report on Monday, January 12th. CJS Securities raised Neogen from a “market perform” rating to an “outperform” rating and set a $10.00 target price on the stock in a research note on Wednesday, December 10th. Finally, William Blair reiterated a “market perform” rating on shares of Neogen in a report on Monday, March 2nd. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target 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.