UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $3.87 Million Stock Position in Neogen Corporation $NEOG

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Neogen Corporation (NASDAQ:NEOG) by 19.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 430,156 shares of the company’s stock after purchasing an additional 70,360 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Neogen were worth $3,867,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Public Employees Retirement System of Ohio bought a new stake in Neogen in the second quarter valued at about $34,000. UMB Bank n.a. boosted its holdings in Neogen by 238.2% during the fourth quarter. UMB Bank n.a. now owns 6,422 shares of the company’s stock worth $45,000 after buying an additional 4,523 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in Neogen by 816.9% during the fourth 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 last quarter. Cresset Asset Management LLC acquired a new position in shares of Neogen during the 2nd quarter worth about $53,000. Finally, Evergreen Capital Management LLC acquired a new position in shares of Neogen during the 2nd quarter worth about $56,000. 96.73% of the stock is owned by institutional investors and hedge funds.

Neogen Stock Performance

NEOG stock opened at $11.92 on Thursday. The business’s 50-day moving average price is $10.88 and its two-hundred day moving average price is $9.91. 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 firm has a market cap of $2.60 billion, a PE ratio of -397.33, a P/E/G ratio of 4.46 and a beta of 1.76. Neogen Corporation has a 1-year low of $4.90 and a 1-year high of $12.85.

Neogen (NASDAQ:NEOG) last posted its earnings results on Thursday, July 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. Neogen had a positive return on equity of 2.78% and a negative net margin of 0.91%.The firm had revenue of $225.30 million during the quarter, compared to analysts’ expectations of $212.35 million. During the same period in the previous year, the firm earned ($2.82) earnings per share. The company’s revenue was down .1% on a year-over-year basis. As a group, research analysts forecast that Neogen Corporation will post 0.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NEOG. Piper Sandler upgraded shares of Neogen from a “neutral” rating to an “overweight” rating and increased their price target for the company from $13.00 to $14.00 in a research report on Wednesday, August 26th. Weiss Ratings raised shares of Neogen from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 7th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $12.00.

Neogen 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.