Mizuho Markets Americas LLC Takes $11.42 Million Position in Neogen Corporation $NEOG

Mizuho Markets Americas LLC bought a new position in shares of Neogen Corporation (NASDAQ:NEOG) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,000,000 shares of the company’s stock, valued at approximately $11,420,000. Mizuho Markets Americas LLC owned about 0.92% of Neogen at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Savant Capital LLC acquired a new stake in Neogen in the second quarter valued at about $50,000. Cresset Asset Management LLC acquired a new position in shares of Neogen during the second quarter worth $53,000. Evergreen Capital Management LLC acquired a new stake in shares of Neogen during the 2nd quarter valued at $56,000. Blue Trust Inc. grew its position in Neogen by 181.7% during the 2nd quarter. Blue Trust Inc. now owns 11,974 shares of the company’s stock worth $57,000 after acquiring an additional 7,724 shares during the last quarter. Finally, Osaic Holdings Inc. increased its holdings in Neogen by 183.5% in the 2nd quarter. Osaic Holdings Inc. now owns 12,663 shares of the company’s stock worth $61,000 after purchasing an additional 8,196 shares in the last quarter. Institutional investors own 96.73% of the company’s stock.

Neogen Price Performance

Shares of NASDAQ:NEOG opened at $9.25 on Monday. Neogen Corporation has a 1-year low of $3.87 and a 1-year high of $12.07. The company has a current ratio of 3.91, a quick ratio of 2.80 and a debt-to-equity ratio of 0.38. The stock’s fifty day simple moving average is $6.97 and its two-hundred day simple moving average is $6.06. The stock has a market cap of $2.01 billion, a PE ratio of -3.34 and a beta of 1.96.

Neogen (NASDAQ:NEOG) last announced its earnings results on Thursday, January 8th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. Neogen had a positive return on equity of 2.14% and a negative net margin of 68.47%.The firm had revenue of $224.69 million for the quarter, compared to the consensus estimate of $208.50 million. During the same quarter in the previous year, the business earned $0.11 EPS. The company’s revenue was down 2.9% compared to the same quarter last year. As a group, analysts forecast that Neogen Corporation will post 0.38 EPS for the current fiscal year.

Analyst Ratings Changes

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