Mizuho Markets Americas LLC Buys 1,500,000 Shares of Neogen Corporation $NEOG

Mizuho Markets Americas LLC boosted its stake in shares of Neogen Corporation (NASDAQ:NEOG) by 75.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,500,000 shares of the company’s stock after buying an additional 1,500,000 shares during the period. Mizuho Markets Americas LLC owned approximately 1.61% of Neogen worth $24,465,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NEOG. Merit Financial Group LLC bought a new stake in shares of Neogen in the 4th quarter worth $71,000. Swiss Life Asset Management Ltd bought a new stake in shares of Neogen in the 4th quarter worth $73,000. Tudor Investment Corp ET AL bought a new stake in shares of Neogen in the 3rd quarter worth $62,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Neogen in the 4th quarter worth $76,000. Finally, Coldstream Capital Management Inc. bought a new stake in shares of Neogen in the 3rd quarter worth $64,000. Institutional investors own 96.73% of the company’s stock.

Neogen Stock Performance

Shares of NEOG opened at $8.90 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 firm has a market capitalization of $1.94 billion, a P/E ratio of -3.18, a PEG ratio of 3.85 and a beta of 1.84. The business has a fifty day moving average of $9.16 and a 200 day moving average of $8.65.

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 positive return on equity of 2.35% and a negative net margin of 69.93%.The company had revenue of $211.20 million during 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. As a group, sell-side analysts anticipate that Neogen Corporation will post 0.23 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.