Neogen Corporation $NEOG Holdings Boosted by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in shares of Neogen Corporation (NASDAQ:NEOG) by 84.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 351,155 shares of the company’s stock after acquiring an additional 161,241 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Neogen were worth $2,005,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. AQR Capital Management LLC raised its position in Neogen by 217.0% during the first quarter. AQR Capital Management LLC now owns 52,410 shares of the company’s stock valued at $443,000 after buying an additional 35,878 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Neogen by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 129,813 shares of the company’s stock worth $1,125,000 after acquiring an additional 5,638 shares during the period. Jones Financial Companies Lllp grew its stake in Neogen by 5,687.3% during the 1st quarter. Jones Financial Companies Lllp now owns 33,393 shares of the company’s stock valued at $290,000 after acquiring an additional 32,816 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Neogen by 14.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,678,493 shares of the company’s stock valued at $14,553,000 after purchasing an additional 209,990 shares during the period. Finally, United Services Automobile Association purchased a new stake in shares of Neogen in the first quarter worth approximately $112,000. Institutional investors and hedge funds own 96.73% of the company’s stock.

Neogen Trading Up 2.0%

Shares of NEOG stock opened at $10.80 on Friday. Neogen Corporation has a 12 month low of $3.87 and a 12 month high of $10.97. The company has a market cap of $2.35 billion, a PE ratio of -3.90 and a beta of 1.98. The company has a quick ratio of 2.80, a current ratio of 3.91 and a debt-to-equity ratio of 0.38. The business’s 50 day moving average is $8.19 and its two-hundred day moving average is $6.56.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings data on Thursday, January 8th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.03. Neogen had a negative net margin of 68.47% and a positive return on equity of 2.14%. The business had revenue of $224.69 million during the quarter, compared to the consensus estimate of $208.50 million. During the same period in the prior year, the firm earned $0.11 EPS. Neogen’s quarterly revenue was down 2.9% compared to the same quarter last year. Equities analysts predict that Neogen Corporation will post 0.38 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. CJS Securities upgraded shares of Neogen from a “market perform” rating to an “outperform” rating and set a $10.00 price objective on the stock in a research note on Wednesday, December 10th. Wall Street Zen downgraded shares of Neogen from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Neogen in a report on Monday, December 29th. Guggenheim restated a “buy” rating and issued a $12.00 target price (up previously from $8.00) on shares of Neogen in a research note on Friday, January 9th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $10.00 target price (up from $6.50) on shares of Neogen in a research report on Monday, January 12th. 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 company’s stock. Based on data from MarketBeat.com, Neogen has an average rating of “Hold” and an average target price 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.