Quantbot Technologies LP Buys 110,145 Shares of Neogen Corporation $NEOG

by · The Cerbat Gem

Quantbot Technologies LP boosted its position in shares of Neogen Corporation (NASDAQ:NEOG – Free Report) by 45.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 351,101 shares of the company’s stock after purchasing an additional 110,145 shares during the period. Quantbot Technologies LP owned about 0.16% of Neogen worth $2,005,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Savant Capital LLC bought a new position in shares of Neogen during the second quarter worth about $50,000. Cresset Asset Management LLC acquired a new position in Neogen during the 2nd quarter worth approximately $53,000. Evergreen Capital Management LLC bought a new position in shares of Neogen during the 2nd quarter worth approximately $56,000. Osaic Holdings Inc. raised its holdings in shares of Neogen by 183.5% in the second quarter. Osaic Holdings Inc. now owns 12,663 shares of the company’s stock valued at $61,000 after purchasing an additional 8,196 shares during the last quarter. Finally, Drive Wealth Management LLC bought a new stake in shares of Neogen in the third quarter worth $68,000. 96.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on NEOG. Guggenheim reaffirmed a “buy” rating and issued a $12.00 target price (up from $8.00) on shares of Neogen in a research report on Friday, January 9th. Wall Street Zen upgraded Neogen from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Neogen in a report on Monday, December 29th. Piper Sandler restated a “neutral” rating and issued a $10.00 price target (up from $6.50) on shares of Neogen in a research note on Monday, January 12th. Finally, CJS Securities raised Neogen from a “market perform” rating to an “outperform” rating and set a $10.00 price target on the stock in a research report on Wednesday, December 10th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $10.67.

Check Out Our Latest Stock Report on Neogen

Neogen Price Performance

NASDAQ:NEOG opened at $10.80 on Thursday. The company has a quick ratio of 2.80, a current ratio of 3.91 and a debt-to-equity ratio of 0.38. The stock’s 50 day moving average price is $9.75 and its two-hundred day moving average price is $7.32. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of -3.90 and a beta of 1.95. Neogen Corporation has a 12-month low of $3.87 and a 12-month high of $11.43.

Neogen (NASDAQ:NEOG – Get Free Report) last issued its earnings results on Thursday, January 8th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.07 by $0.03. Neogen had a positive return on equity of 2.14% and a negative net margin of 68.47%.The company had revenue of $224.69 million during the quarter, compared to the consensus estimate of $208.50 million. During the same period in the previous year, the company posted $0.11 EPS. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, analysts anticipate that Neogen Corporation will post 0.38 earnings per share for the current year.

Neogen Company Profile

(Free Report)

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.

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