Neogen Corporation $NEOG Stake Lessened by King Luther Capital Management Corp

King Luther Capital Management Corp decreased its holdings in shares of Neogen Corporation (NASDAQ:NEOG) by 24.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,438,172 shares of the company’s stock after selling 1,105,444 shares during the quarter. King Luther Capital Management Corp owned 1.58% of Neogen worth $16,434,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Jackson Square Partners LLC acquired a new stake in Neogen during the 2nd quarter worth about $1,651,000. AE Wealth Management LLC increased its holdings in shares of Neogen by 94.2% in the 2nd quarter. AE Wealth Management LLC now owns 22,180 shares of the company’s stock valued at $106,000 after purchasing an additional 10,761 shares during the period. Savant Capital LLC purchased a new stake in shares of Neogen in the second quarter worth approximately $50,000. Bryce Point Capital LLC boosted its holdings in shares of Neogen by 35.6% during the second quarter. Bryce Point Capital LLC now owns 154,958 shares of the company’s stock worth $741,000 after purchasing an additional 40,702 shares during the period. Finally, Corton Capital Inc. purchased a new position in Neogen during the second quarter valued at approximately $121,000. 96.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NEOG. 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. Wall Street Zen lowered Neogen from a “buy” rating to a “hold” rating in a report on Sunday. Piper Sandler set a $6.50 price objective on Neogen and gave the company a “neutral” rating in a research report on Thursday, October 16th. Finally, CJS Securities assumed coverage on Neogen in a research note on Monday, September 29th. They issued a “market perform” rating and a $10.00 target price on the stock. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $8.83.

Neogen Trading Up 7.0%

Shares of NASDAQ:NEOG opened at $6.40 on Monday. The company has a current ratio of 3.58, a quick ratio of 2.26 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $1.39 billion, a PE ratio of -1.33 and a beta of 1.90. Neogen Corporation has a 1 year low of $3.87 and a 1 year high of $16.79. The firm has a fifty day moving average price of $5.85 and a 200 day moving average price of $5.57.

Neogen (NASDAQ:NEOG) last posted its earnings results 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 business’s revenue was down 3.6% compared to the same quarter last year. During the same period last year, the company earned $0.07 earnings per share. Neogen has set its FY 2026 guidance at EPS. Analysts expect that Neogen Corporation will post 0.38 EPS for the current fiscal year.

Neogen Company 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.