UBS Group AG Sells 2,117,876 Shares of Neogen Corporation $NEOG

UBS Group AG reduced its holdings in shares of Neogen Corporation (NASDAQ:NEOG) by 56.3% during the fourth quarter, Holdings Channel reports. The fund owned 1,642,171 shares of the company’s stock after selling 2,117,876 shares during the period. UBS Group AG’s holdings in Neogen were worth $11,479,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its position in Neogen by 1.6% during the third quarter. Vanguard Group Inc. now owns 23,963,223 shares of the company’s stock valued at $136,830,000 after acquiring an additional 385,885 shares during the last quarter. ING Groep NV bought a new position in Neogen during the third quarter valued at approximately $80,288,000. CIBC Bancorp USA Inc. bought a new position in Neogen during the third quarter valued at approximately $28,969,000. Hudson Bay Capital Management LP bought a new position in Neogen during the third quarter valued at approximately $28,550,000. Finally, Bank of Montreal Can grew its position in Neogen by 4,059.4% during the third quarter. Bank of Montreal Can now owns 4,592,218 shares of the company’s stock valued at $26,222,000 after acquiring an additional 4,481,812 shares during the last quarter. 96.73% of the stock is currently owned by institutional investors.

Neogen Stock Performance

Shares of NEOG opened at $8.19 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. Neogen Corporation has a one year low of $4.53 and a one year high of $11.43. The company has a 50-day simple moving average of $9.28 and a two-hundred day simple moving average of $8.56. The firm has a market capitalization of $1.78 billion, a PE ratio of -2.93, a price-to-earnings-growth ratio of 3.67 and a beta of 1.84.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings data 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 negative net margin of 69.93% and a positive return on equity of 2.35%. The business had revenue of $211.20 million during the quarter, compared to analyst estimates of $204.62 million. Neogen’s revenue for the quarter was down 4.4% compared to the same quarter last year. On average, analysts anticipate that Neogen Corporation will post 0.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Neogen in a report on Friday, April 10th. Wall Street Zen upgraded shares of Neogen from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, William Blair restated a “market perform” rating on shares of Neogen in a report on Monday, March 2nd. 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 data from MarketBeat.com, Neogen presently has a consensus rating of “Hold” and a consensus target price 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.