GSA Capital Partners LLP Invests $1.20 Million in Neogen Corporation $NEOG

GSA Capital Partners LLP acquired a new position in Neogen Corporation (NASDAQ:NEOG) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 171,280 shares of the company’s stock, valued at approximately $1,197,000. GSA Capital Partners LLP owned approximately 0.08% of Neogen at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Neogen by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 23,963,223 shares of the company’s stock worth $136,830,000 after buying an additional 385,885 shares in the last quarter. ING Groep NV purchased a new stake in Neogen in the 3rd quarter worth $80,288,000. CIBC Bancorp USA Inc. purchased a new stake in Neogen in the 3rd quarter worth $28,969,000. Hudson Bay Capital Management LP purchased a new stake in Neogen in the 3rd quarter worth $28,550,000. Finally, Bank of Montreal Can increased its stake in Neogen by 4,059.4% in the 3rd quarter. Bank of Montreal Can now owns 4,592,218 shares of the company’s stock worth $26,222,000 after buying an additional 4,481,812 shares in the last quarter. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NEOG has been the subject of a number of analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Neogen in a research note on Friday, April 10th. Wall Street Zen upgraded Neogen from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, William Blair reiterated a “market perform” rating on shares of Neogen in a research note on Monday, March 2nd. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.67.

Neogen Stock Up 5.7%

NEOG opened at $8.83 on Thursday. The firm has a 50-day simple moving average of $9.19 and a two-hundred day simple moving average of $8.63. Neogen Corporation has a 52 week low of $4.53 and a 52 week high of $11.43. The company has a market capitalization of $1.92 billion, a PE ratio of -3.15, a price-to-earnings-growth ratio of 3.63 and a beta of 1.84. The company has a quick ratio of 2.84, a current ratio of 3.92 and a debt-to-equity ratio of 0.38.

Neogen (NASDAQ:NEOG) last released its quarterly earnings data on Thursday, April 9th. The company reported $0.09 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $204.62 million. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. Analysts forecast that Neogen Corporation will post 0.23 earnings per share for the current fiscal year.

Neogen 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.