AXQ Capital LP Takes Position in Neogen Corporation $NEOG

AXQ Capital LP purchased a new position in shares of Neogen Corporation (NASDAQ:NEOG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 60,150 shares of the company’s stock, valued at approximately $420,000.

Several other large investors also recently bought and sold shares of NEOG. ING Groep NV acquired a new stake in shares of Neogen in the third quarter valued at approximately $80,288,000. CIBC Bancorp USA Inc. purchased a new stake in shares of Neogen in the third quarter valued at $28,969,000. Hudson Bay Capital Management LP purchased a new stake in Neogen in the 3rd quarter valued at about $28,550,000. Bank of Montreal Can boosted its position in shares of Neogen by 4,059.4% in the third quarter. Bank of Montreal Can now owns 4,592,218 shares of the company’s stock worth $26,222,000 after acquiring an additional 4,481,812 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in Neogen by 809.8% in the third quarter. BNP Paribas Financial Markets now owns 2,660,884 shares of the company’s stock valued at $15,194,000 after purchasing an additional 2,368,410 shares during the period. Institutional investors and hedge funds own 96.73% of the company’s stock.

Analyst Ratings Changes

NEOG has been the topic of a number of recent analyst reports. William Blair reaffirmed a “market perform” rating on shares of Neogen in a research note on Monday, March 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Neogen in a report on Friday, April 10th. Finally, Wall Street Zen raised Neogen from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $10.67.

Neogen Stock Performance

Shares of NEOG stock opened at $9.12 on Friday. The firm has a market capitalization of $1.99 billion, a P/E ratio of -3.26, a P/E/G ratio of 3.94 and a beta of 1.80. Neogen Corporation has a 12 month low of $4.56 and a 12 month high of $11.43. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.92 and a quick ratio of 2.84. The company’s fifty day moving average price is $9.17 and its two-hundred day moving average price is $8.84.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings data on Thursday, April 9th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.05. The company had revenue of $211.20 million for the quarter, compared to the consensus estimate of $204.62 million. Neogen had a positive return on equity of 2.35% and a negative net margin of 69.93%.Neogen’s quarterly revenue was down 4.4% compared to the same quarter last year. On average, research analysts anticipate that Neogen Corporation will post 0.23 earnings per share for the current fiscal year.

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.