Kennedy Capital Management LLC Lowers Stock Position in Neogen Corporation $NEOG

Kennedy Capital Management LLC lessened its holdings in Neogen Corporation (NASDAQ:NEOG) by 8.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,419,727 shares of the company’s stock after selling 132,717 shares during the quarter. Kennedy Capital Management LLC’s holdings in Neogen were worth $9,924,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NEOG. UMB Bank n.a. lifted its position in Neogen by 238.2% during the fourth quarter. UMB Bank n.a. now owns 6,422 shares of the company’s stock valued at $45,000 after acquiring an additional 4,523 shares during the last quarter. Hantz Financial Services Inc. lifted its position in Neogen by 816.9% during the fourth quarter. Hantz Financial Services Inc. now owns 7,592 shares of the company’s stock valued at $53,000 after acquiring an additional 6,764 shares during the last quarter. Cresset Asset Management LLC purchased a new stake in Neogen during the second quarter valued at approximately $53,000. Evergreen Capital Management LLC purchased a new stake in Neogen during the second quarter valued at approximately $56,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Neogen by 3,158.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 8,309 shares of the company’s stock valued at $58,000 after acquiring an additional 8,054 shares during the last quarter. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Neogen Stock Performance

Shares of Neogen stock opened at $9.10 on Monday. 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 firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of -3.25, a PEG ratio of 4.07 and a beta of 1.81. The firm’s 50 day simple moving average is $9.17 and its two-hundred day simple moving average is $8.98.

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on NEOG. Wall Street Zen raised shares of Neogen from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. William Blair reissued a “market perform” rating on shares of Neogen in a research report on Monday, March 2nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Neogen in a research report on Friday, April 10th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $10.67.

About Neogen

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.