Bessemer Group Inc. Boosts Stock Position in Neogen Corporation $NEOG

Bessemer Group Inc. raised its holdings in Neogen Corporation (NASDAQ:NEOG) by 160,972.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,565,625 shares of the company’s stock after acquiring an additional 1,564,653 shares during the quarter. Bessemer Group Inc.’s holdings in Neogen were worth $14,545,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of NEOG. UMB Bank n.a. boosted its stake in shares of Neogen by 238.2% during the fourth quarter. UMB Bank n.a. now owns 6,422 shares of the company’s stock valued at $45,000 after purchasing an additional 4,523 shares during the period. Hantz Financial Services Inc. increased its stake in Neogen by 816.9% in the 4th quarter. Hantz Financial Services Inc. now owns 7,592 shares of the company’s stock worth $53,000 after buying an additional 6,764 shares during the period. Cresset Asset Management LLC purchased a new position in Neogen in the 2nd quarter worth about $53,000. Evergreen Capital Management LLC bought a new stake in Neogen during the 2nd quarter valued at about $56,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Neogen by 3,158.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 8,309 shares of the company’s stock valued at $58,000 after buying an additional 8,054 shares in the last quarter. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Wall Street Zen raised shares of Neogen from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Neogen in a report on Wednesday, July 8th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $10.67.

Neogen Stock Down 0.6%

Shares of Neogen stock opened at $10.27 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 1 year low of $4.56 and a 1 year high of $11.43. The firm’s 50-day moving average is $9.15 and its two-hundred day moving average is $9.46. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of -3.67, a PEG ratio of 4.60 and a beta of 1.80.

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.