BNP Paribas Financial Markets Trims Stock Holdings in Neogen Corporation $NEOG

BNP Paribas Financial Markets lowered its position in shares of Neogen Corporation (NASDAQ:NEOG) by 17.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,204,605 shares of the company’s stock after selling 456,279 shares during the period. BNP Paribas Financial Markets owned 1.01% of Neogen worth $15,410,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Huntington National Bank grew its stake in Neogen by 8.4% during the fourth quarter. Huntington National Bank now owns 13,552 shares of the company’s stock valued at $95,000 after acquiring an additional 1,045 shares in the last quarter. ProShare Advisors LLC grew its stake in Neogen by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 42,509 shares of the company’s stock valued at $297,000 after acquiring an additional 1,331 shares in the last quarter. State of Alaska Department of Revenue grew its stake in Neogen by 1.2% during the fourth quarter. State of Alaska Department of Revenue now owns 110,645 shares of the company’s stock valued at $773,000 after acquiring an additional 1,353 shares in the last quarter. Evergreen Capital Management LLC grew its stake in Neogen by 12.3% during the fourth quarter. Evergreen Capital Management LLC now owns 13,753 shares of the company’s stock valued at $96,000 after acquiring an additional 1,504 shares in the last quarter. Finally, California State Teachers Retirement System grew its stake in Neogen by 1.1% during the second quarter. California State Teachers Retirement System now owns 191,084 shares of the company’s stock valued at $913,000 after acquiring an additional 2,166 shares in the last quarter. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wall Street Zen raised shares of Neogen from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Neogen in a research note on Friday, April 10th. Finally, William Blair reissued a “market perform” rating on shares of Neogen in a research note on Monday, March 2nd. Two equities research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $10.67.

Neogen Trading Down 2.4%

Shares of NEOG opened at $8.90 on Friday. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of -3.18, a PEG ratio of 3.99 and a beta of 1.80. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.84 and a current ratio of 3.92. Neogen Corporation has a fifty-two week low of $4.56 and a fifty-two week high of $11.43. The firm has a 50 day moving average price of $9.16 and a 200-day moving average price of $8.84.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings data on Thursday, April 9th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The firm had revenue of $211.20 million during the quarter, compared to analyst estimates of $204.62 million. Neogen had a negative net margin of 69.93% and a positive return on equity of 2.35%. The firm’s revenue was down 4.4% on a year-over-year basis. As a group, equities research analysts forecast that Neogen Corporation will post 0.23 earnings per share for the current 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.