Legal & General Group Plc Makes New Investment in Neogen Corporation $NEOG

Legal & General Group Plc purchased a new position in shares of Neogen Corporation (NASDAQ:NEOG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 500,091 shares of the company’s stock, valued at approximately $4,496,000. Legal & General Group Plc owned approximately 0.23% of Neogen as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. The Manufacturers Life Insurance Company acquired a new stake in Neogen in the 2nd quarter valued at $956,000. Paradigm Capital Management Inc. NY purchased a new stake in Neogen during the 2nd quarter worth approximately $467,000. Cibc World Market Inc. acquired a new position in shares of Neogen during the second quarter valued at approximately $31,469,000. Sanctuary Advisors LLC acquired a new position in shares of Neogen during the second quarter valued at approximately $111,000. Finally, Quantbot Technologies LP purchased a new position in shares of Neogen in the second quarter valued at approximately $146,000. Institutional investors and hedge funds own 96.73% of the company’s stock.

Wall Street Analysts Forecast Growth

NEOG has been the topic of a number of research analyst reports. Wall Street Zen raised Neogen from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded Neogen from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 7th. Finally, Piper Sandler raised shares of Neogen from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $13.00 to $14.00 in a research note on Wednesday, August 26th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $12.00.

Neogen Stock Up 1.6%

NEOG stock opened at $11.83 on Friday. Neogen Corporation has a one year low of $4.90 and a one year high of $12.85. The firm has a market cap of $2.58 billion, a PE ratio of -394.33, a PEG ratio of 4.37 and a beta of 1.76. The firm’s 50 day moving average price is $10.71 and its 200-day moving average price is $9.90. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.91 and a current ratio of 3.82.

Neogen (NASDAQ:NEOG) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the business posted ($2.82) EPS. The company’s revenue was down .1% compared to the same quarter last year. On average, equities research analysts anticipate that Neogen Corporation will post 0.27 EPS for the current 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.