500,091 Shares in Neogen Corporation $NEOG Bought by Legal & General Group Plc

Legal & General Group Plc purchased a new position in Neogen Corporation (NASDAQ:NEOG) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 500,091 shares of the company’s stock, valued at approximately $4,496,000.

A number of other institutional investors also recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Neogen in the 2nd quarter valued at $300,545,000. Dimensional Fund Advisors LP raised its position in Neogen by 23.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,132,021 shares of the company’s stock worth $84,831,000 after buying an additional 1,733,767 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Neogen by 249.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,181,768 shares of the company’s stock worth $57,191,000 after acquiring an additional 5,838,570 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of Neogen by 1.0% in the fourth quarter. Mackenzie Financial Corp now owns 7,898,439 shares of the company’s stock valued at $55,574,000 after acquiring an additional 79,010 shares in the last quarter. Finally, Cibc World Markets Corp acquired a new stake in shares of Neogen in the 4th quarter valued at approximately $47,983,000. 96.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on NEOG shares. Wall Street Zen raised shares of Neogen from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Piper Sandler upgraded Neogen from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $13.00 to $14.00 in a report on Wednesday, August 26th. Finally, Weiss Ratings upgraded Neogen from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 7th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Neogen has an average rating of “Hold” and a consensus price target of $12.00.

Neogen Trading Up 1.6%

Shares of NASDAQ NEOG opened at $11.83 on Friday. Neogen Corporation has a 12-month low of $4.90 and a 12-month high of $12.85. The company has a market cap of $2.58 billion, a price-to-earnings ratio of -394.33, a price-to-earnings-growth ratio of 4.37 and a beta of 1.76. The company has a current ratio of 3.82, a quick ratio of 2.91 and a debt-to-equity ratio of 0.38. The stock’s 50 day simple moving average is $10.71 and its 200 day simple moving average is $9.90.

Neogen (NASDAQ:NEOG) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The business had revenue of $225.30 million for the quarter, compared to analysts’ expectations of $212.35 million. Neogen had a negative net margin of 0.91% and a positive return on equity of 2.78%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the company earned ($2.82) EPS. Equities research analysts expect that Neogen Corporation will post 0.27 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.