Intech Investment Management LLC Buys 124,616 Shares of Neogen Corporation $NEOG

Intech Investment Management LLC lifted its stake in Neogen Corporation (NASDAQ:NEOG) by 97.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 252,368 shares of the company’s stock after acquiring an additional 124,616 shares during the period. Intech Investment Management LLC’s holdings in Neogen were worth $1,764,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Huntington National Bank raised its position 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 acquiring an additional 1,045 shares in the last quarter. Geode Capital Management LLC increased its position in Neogen by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 5,428,084 shares of the company’s stock valued at $37,949,000 after buying an additional 48,009 shares in the last quarter. Hantz Financial Services Inc. increased its position in Neogen by 816.9% during the 4th quarter. Hantz Financial Services Inc. now owns 7,592 shares of the company’s stock valued at $53,000 after buying an additional 6,764 shares in the last quarter. Mizuho Markets Americas LLC increased its position in Neogen by 75.0% during the 4th quarter. Mizuho Markets Americas LLC now owns 3,500,000 shares of the company’s stock valued at $24,465,000 after buying an additional 1,500,000 shares in the last quarter. Finally, Bastion Asset Management Inc. acquired a new position in Neogen during the 4th quarter valued at about $1,736,000. 96.73% of the stock is owned by institutional investors.

Neogen Trading Up 3.5%

Shares of NASDAQ:NEOG opened at $9.12 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.92 and a quick ratio of 2.84. The business’s 50-day moving average is $9.17 and its 200 day moving average is $8.84. The firm has a market capitalization of $1.99 billion, a P/E ratio of -3.26, a P/E/G ratio of 3.94 and a beta of 1.80. Neogen Corporation has a 1 year low of $4.56 and a 1 year high of $11.43.

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

Analyst Upgrades and Downgrades

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

Neogen 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.