Neogen Corporation $NEOG Shares Sold by Clarkston Capital Partners LLC

Clarkston Capital Partners LLC lessened its position in Neogen Corporation (NASDAQ:NEOG) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,328,670 shares of the company’s stock after selling 364,580 shares during the period. Neogen comprises 1.8% of Clarkston Capital Partners LLC’s portfolio, making the stock its 20th largest holding. Clarkston Capital Partners LLC owned approximately 5.21% of Neogen worth $79,187,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Huntington National Bank raised its stake in shares of Neogen by 8.4% during the fourth quarter. Huntington National Bank now owns 13,552 shares of the company’s stock valued at $95,000 after purchasing an additional 1,045 shares during the period. ProShare Advisors LLC raised its stake in shares of Neogen by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 42,509 shares of the company’s stock valued at $297,000 after purchasing an additional 1,331 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Neogen by 1.2% during the fourth quarter. State of Alaska Department of Revenue now owns 110,645 shares of the company’s stock valued at $773,000 after purchasing an additional 1,353 shares during the period. Evergreen Capital Management LLC raised its stake in shares of Neogen by 12.3% during the fourth quarter. Evergreen Capital Management LLC now owns 13,753 shares of the company’s stock valued at $96,000 after purchasing an additional 1,504 shares during the period. Finally, California State Teachers Retirement System raised its stake in shares of Neogen by 1.1% during the second quarter. California State Teachers Retirement System now owns 191,084 shares of the company’s stock valued at $913,000 after purchasing an additional 2,166 shares during the period. Institutional investors and hedge funds own 96.73% of the company’s stock.

Neogen Stock Down 1.5%

Shares of NASDAQ:NEOG opened at $9.10 on Friday. The company has a current ratio of 3.92, a quick ratio of 2.84 and a debt-to-equity ratio of 0.38. The company has a fifty day simple moving average of $9.17 and a 200 day simple moving average of $8.96. The firm has a market cap of $1.98 billion, a PE ratio of -3.25, a price-to-earnings-growth ratio of 4.14 and a beta of 1.80. Neogen Corporation has a 12-month low of $4.56 and a 12-month high of $11.43.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings results on Thursday, April 9th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The business had revenue of $211.20 million during the quarter, compared to analyst estimates of $204.62 million. Neogen had a negative net margin of 69.93% and a positive return on equity of 2.35%. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. On average, equities research analysts anticipate that Neogen Corporation will post 0.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NEOG shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Neogen in a research note on Friday, April 10th. William Blair reiterated a “market perform” rating on shares of Neogen in a research note on Monday, March 2nd. Finally, Wall Street Zen upgraded shares of Neogen from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Two investment 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $10.67.

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.