Neogen Corporation $NEOG Shares Sold by ING Groep NV

ING Groep NV reduced its stake in Neogen Corporation (NASDAQ:NEOG) by 37.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,777,500 shares of the company’s stock after selling 5,283,400 shares during the period. ING Groep NV owned approximately 4.04% of Neogen worth $61,355,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in NEOG. Vanguard Group Inc. boosted its position in Neogen by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 23,963,223 shares of the company’s stock valued at $136,830,000 after buying an additional 385,885 shares during the last quarter. Geode Capital Management LLC boosted its position in Neogen by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 5,428,084 shares of the company’s stock valued at $37,949,000 after buying an additional 48,009 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new position in Neogen in the 3rd quarter valued at about $28,969,000. Hudson Bay Capital Management LP purchased a new position in Neogen in the 3rd quarter valued at about $28,550,000. Finally, Bank of Montreal Can boosted its position in Neogen by 4,059.4% in the 3rd quarter. Bank of Montreal Can now owns 4,592,218 shares of the company’s stock valued at $26,222,000 after buying an additional 4,481,812 shares during the last quarter. 96.73% of the stock is currently owned by institutional investors and hedge funds.

Neogen Stock Performance

Shares of NEOG stock opened at $8.90 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.84 and a current ratio of 3.92. Neogen Corporation has a one year low of $4.56 and a one year high of $11.43. The company’s 50-day simple moving average is $9.16 and its 200-day simple moving average is $8.84. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of -3.18, a PEG ratio of 3.99 and a beta of 1.80.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings results on Thursday, April 9th. The company reported $0.09 EPS for the quarter, topping the consensus estimate 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 business had revenue of $211.20 million for the quarter, compared to analysts’ expectations of $204.62 million. The business’s revenue was down 4.4% compared to the same quarter last year. Equities analysts anticipate that Neogen Corporation will post 0.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on NEOG shares. William Blair reissued a “market perform” rating on shares of Neogen in a research report on Monday, March 2nd. Wall Street Zen raised shares of Neogen from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Neogen in a research report on Friday, April 10th. 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 stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $10.67.

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.