Neogen Corporation $NEOG Shares Bought by Sei Investments Co.

Sei Investments Co. boosted its stake in shares of Neogen Corporation (NASDAQ:NEOG) by 69.1% during the 1st quarter, Holdings Channel reports. The firm owned 230,403 shares of the company’s stock after acquiring an additional 94,148 shares during the quarter. Sei Investments Co.’s holdings in Neogen were worth $2,141,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of NEOG. Huntington National Bank lifted its stake in shares of Neogen by 8.4% during the fourth quarter. Huntington National Bank now owns 13,552 shares of the company’s stock worth $95,000 after buying an additional 1,045 shares during the period. ProShare Advisors LLC grew its holdings in shares of Neogen by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 42,509 shares of the company’s stock valued at $297,000 after buying an additional 1,331 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Neogen by 1.2% in the 4th quarter. State of Alaska Department of Revenue now owns 110,645 shares of the company’s stock valued at $773,000 after acquiring an additional 1,353 shares during the period. Evergreen Capital Management LLC increased its position in shares of Neogen by 12.3% in the 4th quarter. Evergreen Capital Management LLC now owns 13,753 shares of the company’s stock valued at $96,000 after acquiring an additional 1,504 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its stake in Neogen by 10.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 17,837 shares of the company’s stock worth $125,000 after acquiring an additional 1,638 shares during the last quarter. Institutional investors and hedge funds own 96.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on NEOG shares. Weiss Ratings raised Neogen from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday. Wall Street Zen raised Neogen from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $13.00 target price (up from $11.00) on shares of Neogen in a report on Monday, August 3rd. Two equities research 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’s stock. Based on data from MarketBeat, Neogen has an average rating of “Hold” and an average target price of $11.67.

Neogen Price Performance

NASDAQ:NEOG opened at $11.47 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.82 and a quick ratio of 2.91. The company’s fifty day moving average price is $9.68 and its 200-day moving average price is $9.70. Neogen Corporation has a 1-year low of $4.89 and a 1-year high of $12.85. The firm has a market capitalization of $2.50 billion, a P/E ratio of -382.33, a PEG ratio of 5.14 and a beta of 1.76.

Neogen (NASDAQ:NEOG) last posted its earnings results on Thursday, July 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. Neogen had a negative net margin of 0.91% and a positive return on equity of 2.78%. The company had revenue of $225.30 million during the quarter, compared to the consensus estimate of $212.35 million. During the same period in the previous year, the firm posted ($2.82) earnings per share. The firm’s quarterly revenue was down .1% on a year-over-year basis. As a group, equities research analysts anticipate that Neogen Corporation will post 0.22 EPS for the current year.

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.