Mizuho Markets Americas LLC Buys Shares of 2,000,000 Neogen Corporation $NEOG

Mizuho Markets Americas LLC purchased a new position in Neogen Corporation (NASDAQ:NEOG) in the third quarter, Holdings Channel reports. The institutional investor purchased 2,000,000 shares of the company’s stock, valued at approximately $11,420,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. AQR Capital Management LLC grew its stake in Neogen by 217.0% during the first quarter. AQR Capital Management LLC now owns 52,410 shares of the company’s stock valued at $443,000 after acquiring an additional 35,878 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings 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 purchasing an additional 5,638 shares during the period. Jones Financial Companies Lllp grew its position in shares of Neogen by 5,687.3% during the 1st quarter. Jones Financial Companies Lllp now owns 33,393 shares of the company’s stock valued at $290,000 after purchasing an additional 32,816 shares in the last quarter. Goldman Sachs Group Inc. increased 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 worth $14,553,000 after purchasing an additional 209,990 shares during the period. Finally, United Services Automobile Association purchased a new stake in shares of Neogen in the first quarter worth $112,000. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Guggenheim restated a “buy” rating and issued a $12.00 target price (up from $8.00) on shares of Neogen in a research note on Friday, January 9th. CJS Securities upgraded Neogen from a “market perform” rating to an “outperform” rating and set a $10.00 price target for the company in a research report on Wednesday, December 10th. Wall Street Zen cut shares of Neogen from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Piper Sandler reaffirmed a “neutral” rating and issued a $10.00 target price (up from $6.50) on shares of Neogen in a research note on Monday, January 12th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Neogen in a research note on Monday, December 29th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $10.67.

Neogen Stock Down 2.2%

NEOG opened at $9.25 on Monday. The company has a market cap of $2.01 billion, a P/E ratio of -3.34 and a beta of 1.96. Neogen Corporation has a 12 month low of $3.87 and a 12 month high of $12.07. The business’s 50-day moving average price is $6.97 and its 200-day moving average price is $6.06. The company has a current ratio of 3.91, a quick ratio of 2.80 and a debt-to-equity ratio of 0.38.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings results on Thursday, January 8th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. The business had revenue of $224.69 million for the quarter, compared to analysts’ expectations of $208.50 million. Neogen had a positive return on equity of 2.14% and a negative net margin of 68.47%.The business’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.11 EPS. On average, equities analysts expect that Neogen Corporation will post 0.38 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.