AXQ Capital LP Takes $420,000 Position in Neogen Corporation $NEOG

AXQ Capital LP acquired a new stake in shares of Neogen Corporation (NASDAQ:NEOG) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 60,150 shares of the company’s stock, valued at approximately $420,000.

Other large investors have also recently bought and sold shares of the company. ING Groep NV acquired a new position in Neogen during the 3rd quarter valued at approximately $80,288,000. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in Neogen by 84.9% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 351,155 shares of the company’s stock valued at $2,005,000 after buying an additional 161,241 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of Neogen by 26.0% in the third quarter. Public Sector Pension Investment Board now owns 847,266 shares of the company’s stock valued at $4,838,000 after acquiring an additional 174,962 shares in the last quarter. Hudson Bay Capital Management LP bought a new position in Neogen during the 3rd quarter valued at $28,550,000. Finally, CIBC Bancorp USA Inc. bought a new position in Neogen during the third quarter valued at about $28,969,000. Institutional investors own 96.73% of the company’s stock.

Neogen Trading Up 3.5%

Neogen stock opened at $9.12 on Friday. The company has a quick ratio of 2.84, a current ratio of 3.92 and a debt-to-equity ratio of 0.38. Neogen Corporation has a 12 month low of $4.56 and a 12 month high of $11.43. The company’s fifty day simple moving average is $9.17 and its 200-day simple moving average is $8.84. The stock has a market cap of $1.99 billion, a P/E ratio of -3.26, a P/E/G ratio of 3.94 and a beta of 1.80.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings results on Thursday, April 9th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. Neogen had a positive return on equity of 2.35% and a negative net margin of 69.93%.The company had revenue of $211.20 million during the quarter, compared to the consensus estimate of $204.62 million. Neogen’s revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Neogen Corporation will post 0.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on NEOG shares. William Blair reiterated a “market perform” rating on shares of Neogen in a report on Monday, March 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Neogen in a report on Friday, April 10th. Finally, Wall Street Zen upgraded shares of Neogen from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Two investment 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. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $10.67.

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.