Heartland Advisors Inc. Makes New $6.99 Million Investment in Neogen Corporation $NEOG

Heartland Advisors Inc. bought a new position in Neogen Corporation (NASDAQ:NEOG) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,000,000 shares of the company’s stock, valued at approximately $6,990,000. Heartland Advisors Inc. owned 0.46% of Neogen as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in Neogen by 1.6% in the third quarter. Vanguard Group Inc. now owns 23,963,223 shares of the company’s stock worth $136,830,000 after purchasing an additional 385,885 shares during the period. ING Groep NV purchased a new stake in Neogen in the third quarter worth $80,288,000. Geode Capital Management LLC increased its stake in Neogen by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 5,428,084 shares of the company’s stock worth $37,949,000 after purchasing an additional 48,009 shares during the period. CIBC Bancorp USA Inc. purchased a new stake in Neogen in the third quarter worth $28,969,000. Finally, Hudson Bay Capital Management LP purchased a new stake in Neogen in the third quarter worth $28,550,000. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Neogen Stock Performance

Shares of Neogen stock opened at $9.17 on Thursday. The firm has a market cap of $2.00 billion, a P/E ratio of -3.28, a P/E/G ratio of 4.16 and a beta of 1.80. The company has a current ratio of 3.92, a quick ratio of 2.84 and a debt-to-equity ratio of 0.38. Neogen Corporation has a 12 month low of $4.56 and a 12 month high of $11.43. The stock’s fifty day moving average price is $9.18 and its 200-day moving average price is $8.93.

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

Analyst Ratings Changes

NEOG has been the topic of several research reports. Wall Street Zen upgraded Neogen from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Neogen in a research note on Friday, April 10th. Finally, William Blair restated a “market perform” rating on shares of Neogen in a research note on Monday, March 2nd. Two equities 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 company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.