Neogen Corporation $NEOG Position Lowered by ING Groep NV

ING Groep NV decreased its stake in shares of Neogen Corporation (NASDAQ:NEOG) by 37.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,777,500 shares of the company’s stock after selling 5,283,400 shares during the period. ING Groep NV’s holdings in Neogen were worth $61,355,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Hantz Financial Services Inc. lifted its holdings in Neogen by 816.9% in the fourth quarter. Hantz Financial Services Inc. now owns 7,592 shares of the company’s stock worth $53,000 after acquiring an additional 6,764 shares during the last quarter. Cresset Asset Management LLC bought a new position in Neogen in the second quarter worth about $53,000. Evergreen Capital Management LLC bought a new position in Neogen in the second quarter worth about $56,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Neogen by 3,158.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 8,309 shares of the company’s stock worth $58,000 after acquiring an additional 8,054 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its holdings in Neogen by 183.5% in the second quarter. Osaic Holdings Inc. now owns 12,663 shares of the company’s stock worth $61,000 after acquiring an additional 8,196 shares during the last quarter. Institutional investors own 96.73% of the company’s stock.

Analyst Ratings Changes

NEOG has been the topic of a number of recent research reports. William Blair reissued a “market perform” rating on shares of Neogen in a report on Monday, March 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Neogen in a report on Friday, April 10th. Finally, Wall Street Zen raised shares of Neogen from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Neogen has a consensus rating of “Hold” and an average price target of $10.67.

Neogen Price Performance

Shares of NASDAQ:NEOG opened at $8.90 on Friday. The firm’s 50 day moving average is $9.16 and its two-hundred day moving average is $8.84. Neogen Corporation has a 52 week low of $4.56 and a 52 week high of $11.43. The firm has a market capitalization of $1.94 billion, a P/E ratio of -3.18, a PEG ratio of 3.99 and a beta of 1.80. The company has a current ratio of 3.92, a quick ratio of 2.84 and a debt-to-equity ratio of 0.38.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings results on Thursday, April 9th. The company reported $0.09 EPS for the quarter, beating 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 company had revenue of $211.20 million for the quarter, compared to analyst estimates of $204.62 million. The business’s revenue was down 4.4% compared to the same quarter last year. Analysts anticipate that Neogen Corporation will post 0.23 earnings per share for the current year.

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.