SG Americas Securities LLC Buys 4,648,436 Shares of Neogen Corporation $NEOG

SG Americas Securities LLC lifted its stake in Neogen Corporation (NASDAQ:NEOG) by 287.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,266,033 shares of the company’s stock after purchasing an additional 4,648,436 shares during the period. SG Americas Securities LLC’s holdings in Neogen were worth $58,211,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of NEOG. AQR Capital Management LLC increased its stake in shares of Neogen by 217.0% in the 1st quarter. AQR Capital Management LLC now owns 52,410 shares of the company’s stock valued at $443,000 after buying an additional 35,878 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Neogen by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 129,813 shares of the company’s stock valued at $1,125,000 after acquiring an additional 5,638 shares during the period. Jones Financial Companies Lllp boosted its holdings in Neogen by 5,687.3% in the first quarter. Jones Financial Companies Lllp now owns 33,393 shares of the company’s stock valued at $290,000 after acquiring an additional 32,816 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Neogen by 14.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,678,493 shares of the company’s stock valued at $14,553,000 after acquiring an additional 209,990 shares during the last quarter. Finally, United Services Automobile Association acquired a new stake in Neogen in the first quarter worth about $112,000. Institutional investors own 96.73% of the company’s stock.

Neogen Stock Performance

NEOG stock opened at $8.92 on Tuesday. The business’s fifty day moving average is $9.10 and its 200-day moving average is $9.11. The company has a quick ratio of 2.84, a current ratio of 3.92 and a debt-to-equity ratio of 0.38. The company has a market cap of $1.94 billion, a P/E ratio of -3.19, a price-to-earnings-growth ratio of 4.17 and a beta of 1.81. Neogen Corporation has a twelve month low of $4.56 and a twelve month high of $11.43.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings data on Thursday, April 9th. The company reported $0.09 EPS 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 business had revenue of $211.20 million during the quarter, compared to analysts’ expectations of $204.62 million. Neogen’s revenue for the quarter was down 4.4% on a year-over-year basis. Equities research analysts forecast that Neogen Corporation will post 0.23 EPS for the current year.

Analyst Ratings Changes

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

About Neogen

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.