Louisiana State Employees Retirement System Acquires Shares of 96,500 Neogen Corporation $NEOG

Louisiana State Employees Retirement System acquired a new stake in Neogen Corporation (NASDAQ:NEOG) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 96,500 shares of the company’s stock, valued at approximately $896,000.

Other hedge funds also recently added to or reduced their stakes in the company. Hudson Bay Capital Management LP acquired a new position in Neogen during the third quarter worth $28,550,000. CIBC Bancorp USA Inc. acquired a new stake in shares of Neogen in the third quarter valued at about $28,969,000. JPMorgan Chase & Co. increased its stake in shares of Neogen by 19.9% during the third quarter. JPMorgan Chase & Co. now owns 1,680,212 shares of the company’s stock worth $9,594,000 after purchasing an additional 278,886 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Neogen by 929.6% during the 4th quarter. SG Americas Securities LLC now owns 1,617,597 shares of the company’s stock worth $11,307,000 after purchasing an additional 1,460,488 shares during the last quarter. Finally, Round Rock Advisors LLC raised its position in shares of Neogen by 520.8% during the 4th quarter. Round Rock Advisors LLC now owns 156,967 shares of the company’s stock worth $1,097,000 after purchasing an additional 131,684 shares during the last quarter. 96.73% of the stock is owned by hedge funds and other institutional investors.

Neogen Price Performance

NASDAQ:NEOG opened at $9.34 on Monday. The company has a quick ratio of 2.84, a current ratio of 3.92 and a debt-to-equity ratio of 0.38. The stock’s fifty day moving average is $9.06 and its two-hundred day moving average is $9.29. Neogen Corporation has a 52 week low of $4.56 and a 52 week high of $11.43. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of -3.34, a price-to-earnings-growth ratio of 4.18 and a beta of 1.80.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings data on Thursday, April 9th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. The business had revenue of $211.20 million during the quarter, compared to analysts’ expectations of $204.62 million. Neogen had a positive return on equity of 2.35% and a negative net margin of 69.93%.The firm’s revenue was down 4.4% compared to the same quarter last year. Research analysts anticipate that Neogen Corporation will post 0.23 EPS for the current year.

Wall Street Analyst Weigh In

NEOG has been the subject of several research reports. Wall Street Zen upgraded Neogen from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Neogen in a report on Friday, April 10th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Neogen presently has an average rating of “Hold” and a consensus 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.