163,853 Shares in Neogen Corporation $NEOG Acquired by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. purchased a new position in Neogen Corporation (NASDAQ:NEOG) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 163,853 shares of the company’s stock, valued at approximately $1,473,000.

Several other institutional investors also recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Neogen during the 2nd quarter valued at $300,545,000. Dimensional Fund Advisors LP lifted its holdings in shares of Neogen by 23.4% during the first quarter. Dimensional Fund Advisors LP now owns 9,132,021 shares of the company’s stock valued at $84,831,000 after purchasing an additional 1,733,767 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its position 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 valued at $57,191,000 after purchasing an additional 5,838,570 shares during the period. Mackenzie Financial Corp boosted its position in shares of Neogen by 1.0% in the 4th quarter. Mackenzie Financial Corp now owns 7,898,439 shares of the company’s stock valued at $55,574,000 after purchasing an additional 79,010 shares during the period. Finally, Cibc World Markets Corp purchased a new position in Neogen in the 4th quarter worth about $47,983,000. Institutional investors own 96.73% of the company’s stock.

Neogen Trading Down 0.7%

Shares of NASDAQ:NEOG opened at $11.66 on Friday. The firm has a fifty day moving average of $10.47 and a two-hundred day moving average of $9.87. The company has a quick ratio of 2.91, a current ratio of 3.82 and a debt-to-equity ratio of 0.38. Neogen Corporation has a 12-month low of $4.90 and a 12-month high of $12.85. The firm has a market capitalization of $2.54 billion, a P/E ratio of -388.67, a price-to-earnings-growth ratio of 4.37 and a beta of 1.77.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.09 EPS for the quarter, beating the consensus estimate 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 business had revenue of $225.30 million during the quarter, compared to analysts’ expectations of $212.35 million. During the same quarter in the previous year, the business posted ($2.82) EPS. The firm’s quarterly revenue was down .1% compared to the same quarter last year. On average, equities analysts expect that Neogen Corporation will post 0.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.