CenterBook Partners LP Cuts Stake in Neogen Corporation $NEOG

CenterBook Partners LP lowered its holdings in shares of Neogen Corporation (NASDAQ:NEOG) by 21.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 460,367 shares of the company’s stock after selling 122,640 shares during the quarter. CenterBook Partners LP’s holdings in Neogen were worth $3,218,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Huntington National Bank grew its position in shares of Neogen by 8.4% during the fourth quarter. Huntington National Bank now owns 13,552 shares of the company’s stock worth $95,000 after purchasing an additional 1,045 shares in the last quarter. ProShare Advisors LLC grew its position in shares of Neogen by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 42,509 shares of the company’s stock worth $297,000 after purchasing an additional 1,331 shares in the last quarter. State of Alaska Department of Revenue grew its position 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 worth $773,000 after purchasing an additional 1,353 shares in the last quarter. Evergreen Capital Management LLC grew its position 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 worth $96,000 after purchasing an additional 1,504 shares in the last quarter. Finally, California State Teachers Retirement System grew its position 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 worth $913,000 after purchasing an additional 2,166 shares in the last quarter. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. William Blair reiterated a “market perform” rating on shares of Neogen in a research report on Monday, March 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Neogen in a research report on Friday, April 10th. Finally, Wall Street Zen upgraded Neogen from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $10.67.

Neogen Price Performance

NASDAQ:NEOG opened at $9.07 on Tuesday. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of -3.24, a PEG ratio of 3.99 and a beta of 1.81. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.92 and a quick ratio of 2.84. The business has a 50 day simple moving average of $9.16 and a 200-day simple moving average of $8.88. Neogen Corporation has a 1 year low of $4.56 and a 1 year high of $11.43.

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

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.