King Luther Capital Management Corp Sells 1,105,444 Shares of Neogen Corporation $NEOG

King Luther Capital Management Corp decreased its position in shares of Neogen Corporation (NASDAQ:NEOG) by 24.3% in the second quarter, Holdings Channel reports. The fund owned 3,438,172 shares of the company’s stock after selling 1,105,444 shares during the period. King Luther Capital Management Corp’s holdings in Neogen were worth $16,434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Savant Capital LLC bought a new position in shares of Neogen in the second quarter worth about $50,000. Blue Trust Inc. grew its holdings in Neogen by 181.7% in the 2nd quarter. Blue Trust Inc. now owns 11,974 shares of the company’s stock valued at $57,000 after buying an additional 7,724 shares during the last quarter. AlphaQuest LLC increased its position in Neogen by 20,281.9% in the 2nd quarter. AlphaQuest LLC now owns 14,675 shares of the company’s stock worth $70,000 after buying an additional 14,603 shares during the period. Greenleaf Trust bought a new position in Neogen in the 2nd quarter worth approximately $76,000. Finally, Avanza Fonder AB lifted its holdings in shares of Neogen by 17.9% during the second quarter. Avanza Fonder AB now owns 16,435 shares of the company’s stock worth $79,000 after buying an additional 2,499 shares during the last quarter. 96.73% of the stock is currently owned by institutional investors.

Neogen Stock Performance

NASDAQ:NEOG opened at $6.40 on Monday. The firm has a market capitalization of $1.39 billion, a PE ratio of -1.33 and a beta of 1.90. The company has a quick ratio of 2.26, a current ratio of 3.58 and a debt-to-equity ratio of 0.37. Neogen Corporation has a 12-month low of $3.87 and a 12-month high of $16.79. The firm has a 50-day moving average price of $5.85 and a 200 day moving average price of $5.57.

Neogen (NASDAQ:NEOG) last released its quarterly earnings data on Thursday, October 9th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.02. The company had revenue of $216.96 million for the quarter, compared to analyst estimates of $203.93 million. Neogen had a positive return on equity of 2.23% and a negative net margin of 117.61%.The company’s revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.07 EPS. Neogen has set its FY 2026 guidance at EPS. Research analysts anticipate that Neogen Corporation will post 0.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NEOG. CJS Securities assumed coverage on shares of Neogen in a research note on Monday, September 29th. They issued a “market perform” rating and a $10.00 price objective on the stock. William Blair downgraded shares of Neogen from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 29th. Zacks Research upgraded shares of Neogen from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 20th. Weiss Ratings restated a “sell (e+)” rating on shares of Neogen in a report on Wednesday, October 8th. Finally, Piper Sandler set a $6.50 target price on shares of Neogen and gave the company a “neutral” rating in a research note on Thursday, October 16th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $8.83.

Neogen Profile

Neogen Corporation, together with its subsidiaries, engages in the development, manufacture, and marketing of various products and services dedicated to food and animal safety worldwide. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment offers diagnostic test kits and related products to detect dangerous and unintended substances in food and animal feed, including foodborne pathogens, spoilage organisms, natural toxins, food allergens, genetic modifications, ruminant by-products, meat speciation, drug residues, pesticide residues, and general sanitation concerns; and AccuPoint Advanced rapid sanitation test to detect the presence of adenosine triphosphate, a chemical found in living cells, as well as provides genomics-based diagnostic technology and software systems that help testers to objectively analyze and store their results and perform analysis on the results from multiple locations over extended periods.