UBS Group AG Lowers Stock Holdings in Neogen Corporation $NEOG

UBS Group AG trimmed its position in Neogen Corporation (NASDAQ:NEOG) by 56.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,642,171 shares of the company’s stock after selling 2,117,876 shares during the quarter. UBS Group AG owned approximately 0.75% of Neogen worth $11,479,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NEOG. AQR Capital Management LLC lifted its holdings in shares of Neogen by 217.0% in the first quarter. AQR Capital Management LLC now owns 52,410 shares of the company’s stock worth $443,000 after buying an additional 35,878 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Neogen by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 129,813 shares of the company’s stock worth $1,125,000 after buying an additional 5,638 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Neogen by 5,687.3% in the first quarter. Jones Financial Companies Lllp now owns 33,393 shares of the company’s stock worth $290,000 after buying an additional 32,816 shares in the last quarter. Goldman Sachs Group Inc. lifted 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 buying an additional 209,990 shares in the last quarter. Finally, United Services Automobile Association purchased a new stake in shares of Neogen in the first quarter worth about $112,000. 96.73% of the stock is owned by hedge funds and other institutional investors.

Neogen Trading Down 2.8%

Shares of NEOG opened at $8.19 on Friday. The firm’s 50 day simple moving average is $9.28 and its 200 day simple moving average is $8.56. The company has a market capitalization of $1.78 billion, a P/E ratio of -2.93, a P/E/G ratio of 3.67 and a beta of 1.84. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.92 and a quick ratio of 2.84. Neogen Corporation has a 1-year low of $4.53 and a 1-year high of $11.43.

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

Analyst Upgrades and Downgrades

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