Perkins Capital Management Inc. Purchases Shares of 179,250 Neogen Corporation $NEOG

Perkins Capital Management Inc. acquired a new position in shares of Neogen Corporation (NASDAQ:NEOG) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 179,250 shares of the company’s stock, valued at approximately $1,253,000.

A number of other hedge funds have also made changes to their positions in the business. ING Groep NV purchased a new stake in Neogen during the 3rd quarter worth $80,288,000. CIBC Bancorp USA Inc. acquired a new position in shares of Neogen during the third quarter worth $28,969,000. Hudson Bay Capital Management LP acquired a new position in Neogen in the 3rd quarter worth $28,550,000. Bank of Montreal Can boosted its holdings in Neogen by 4,059.4% in the third quarter. Bank of Montreal Can now owns 4,592,218 shares of the company’s stock valued at $26,222,000 after purchasing an additional 4,481,812 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Neogen by 809.8% in the third quarter. BNP Paribas Financial Markets now owns 2,660,884 shares of the company’s stock valued at $15,194,000 after acquiring an additional 2,368,410 shares in the last quarter. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Neogen Price Performance

Shares of NEOG stock opened at $8.61 on Wednesday. The company has a market capitalization of $1.87 billion, a P/E ratio of -3.08, a P/E/G ratio of 3.76 and a beta of 1.84. The company has a current ratio of 3.92, a quick ratio of 2.84 and a debt-to-equity ratio of 0.38. Neogen Corporation has a 12 month low of $4.53 and a 12 month high of $11.43. The stock has a 50 day moving average of $9.43 and a two-hundred day moving average of $8.53.

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

Analyst Ratings Changes

NEOG has been the subject of several research reports. Wall Street Zen upgraded Neogen from a “hold” rating to a “buy” rating in a research report on Saturday. William Blair reaffirmed a “market perform” rating on shares of Neogen in a research note on Monday, March 2nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Neogen in a research report on Friday, April 10th. 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price 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.