Mutual of America Capital Management LLC Trims Position in Neogen Corporation $NEOG

Mutual of America Capital Management LLC lessened its holdings in shares of Neogen Corporation (NASDAQ:NEOG) by 16.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 382,654 shares of the company’s stock after selling 76,736 shares during the period. Mutual of America Capital Management LLC owned approximately 0.18% of Neogen worth $2,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Neogen during the 2nd quarter worth approximately $43,387,000. Clarkston Capital Partners LLC raised its holdings in shares of Neogen by 123.2% during the second quarter. Clarkston Capital Partners LLC now owns 14,005,725 shares of the company’s stock valued at $66,947,000 after acquiring an additional 7,729,650 shares during the last quarter. Mizuho Markets Americas LLC purchased a new position in Neogen in the 3rd quarter valued at $11,420,000. Ameriprise Financial Inc. lifted its stake in shares of Neogen by 169.5% in the second quarter. Ameriprise Financial Inc. now owns 3,079,123 shares of the company’s stock worth $14,718,000 after buying an additional 1,936,569 shares in the last quarter. Finally, CenterBook Partners LP purchased a new position in Neogen in the 2nd quarter worth approximately $6,252,000. 96.73% of the stock is owned by institutional investors and hedge funds.

Neogen Price Performance

NEOG stock opened at $10.22 on Monday. The company has a market capitalization of $2.22 billion, a P/E ratio of -3.69 and a beta of 1.98. The business has a 50 day simple moving average of $7.74 and a 200-day simple moving average of $6.39. The company has a current ratio of 3.91, a quick ratio of 2.80 and a debt-to-equity ratio of 0.38. Neogen Corporation has a twelve month low of $3.87 and a twelve month high of $11.76.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings data on Thursday, January 8th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. Neogen had a negative net margin of 68.47% and a positive return on equity of 2.14%. The company had revenue of $224.69 million for the quarter, compared to analyst estimates of $208.50 million. During the same period in the previous year, the business posted $0.11 earnings per share. Neogen’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, equities analysts anticipate that Neogen Corporation will post 0.38 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on NEOG shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Neogen in a research note on Monday, December 29th. Piper Sandler reaffirmed a “neutral” rating and set a $10.00 price objective (up previously from $6.50) on shares of Neogen in a research report on Monday, January 12th. Guggenheim restated a “buy” rating and set a $12.00 target price (up from $8.00) on shares of Neogen in a report on Friday, January 9th. CJS Securities raised shares of Neogen from a “market perform” rating to an “outperform” rating and set a $10.00 price target for the company in a research report on Wednesday, December 10th. Finally, Wall Street Zen downgraded Neogen from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $10.67.

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.