SG Americas Securities LLC Buys 4,648,436 Shares of Neogen Corporation $NEOG

SG Americas Securities LLC lifted its stake in Neogen Corporation (NASDAQ:NEOG) by 287.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,266,033 shares of the company’s stock after buying an additional 4,648,436 shares during the period. SG Americas Securities LLC owned about 2.88% of Neogen worth $58,211,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of NEOG. UMB Bank n.a. grew its position in Neogen by 238.2% in the fourth quarter. UMB Bank n.a. now owns 6,422 shares of the company’s stock valued at $45,000 after acquiring an additional 4,523 shares during the period. Hantz Financial Services Inc. raised its stake in Neogen by 816.9% during the fourth quarter. Hantz Financial Services Inc. now owns 7,592 shares of the company’s stock worth $53,000 after acquiring an additional 6,764 shares in the last quarter. Cresset Asset Management LLC bought a new position in shares of Neogen during the second quarter valued at $53,000. Evergreen Capital Management LLC bought a new position in shares of Neogen during the second quarter valued at $56,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Neogen by 3,158.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 8,309 shares of the company’s stock valued at $58,000 after acquiring an additional 8,054 shares during the period. Institutional investors own 96.73% of the company’s stock.

Neogen Trading Down 4.2%

NEOG stock opened at $8.92 on Tuesday. 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 stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of -3.19, a P/E/G ratio of 4.17 and a beta of 1.81. The business has a fifty day moving average price of $9.10 and a 200 day moving average price of $9.11. Neogen Corporation has a fifty-two week low of $4.56 and a fifty-two week high of $11.43.

Neogen (NASDAQ:NEOG) last announced its earnings results on Thursday, April 9th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.04 by $0.05. Neogen had a positive return on equity of 2.35% and a negative net margin of 69.93%.The company had revenue of $211.20 million for the quarter, compared to analysts’ expectations of $204.62 million. The company’s revenue was down 4.4% compared to the same quarter last year. Analysts expect that Neogen Corporation will post 0.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Neogen in a report on Friday, April 10th. William Blair reissued a “market perform” rating on shares of Neogen in a report on Monday, March 2nd. Finally, Wall Street Zen upgraded shares of Neogen from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Two 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, the stock currently has a consensus rating of “Hold” and an average price target of $10.67.

Neogen Company 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.