Neogen Corporation $NEOG Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC lessened its stake in Neogen Corporation (NASDAQ:NEOG) by 37.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,907,034 shares of the company’s stock after selling 3,495,986 shares during the period. William Blair Investment Management LLC’s holdings in Neogen were worth $33,729,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. AQR Capital Management LLC grew its position in Neogen by 217.0% during the 1st quarter. AQR Capital Management LLC now owns 52,410 shares of the company’s stock worth $443,000 after purchasing an additional 35,878 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Neogen by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 129,813 shares of the company’s stock valued at $1,125,000 after buying an additional 5,638 shares during the period. Jones Financial Companies Lllp raised its position in Neogen by 5,687.3% during the 1st quarter. Jones Financial Companies Lllp now owns 33,393 shares of the company’s stock worth $290,000 after buying an additional 32,816 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Neogen by 14.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,678,493 shares of the company’s stock valued at $14,553,000 after acquiring an additional 209,990 shares in the last quarter. Finally, United Services Automobile Association acquired a new position in shares of Neogen during the first quarter worth about $112,000. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NEOG has been the topic of a number of analyst reports. Guggenheim reaffirmed a “buy” rating and issued a $12.00 price objective (up from $8.00) on shares of Neogen in a report on Friday, January 9th. Wall Street Zen upgraded Neogen from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. CJS Securities upgraded shares of Neogen from a “market perform” rating to an “outperform” rating and set a $10.00 price target for the company in a report on Wednesday, December 10th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Neogen in a report on Monday, December 29th. Finally, Piper Sandler restated a “neutral” rating and issued a $10.00 price target (up from $6.50) on shares of Neogen in a report on Monday, January 12th. 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 data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $10.67.

Neogen Stock Down 0.8%

Shares of NASDAQ NEOG opened at $11.23 on Monday. The firm’s 50-day moving average is $9.52 and its two-hundred day moving average is $7.22. The company has a market capitalization of $2.44 billion, a PE ratio of -4.05 and a beta of 1.95. Neogen Corporation has a 12-month low of $3.87 and a 12-month high of $11.43. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.91 and a quick ratio of 2.80.

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

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.