Kennedy Capital Management LLC Sells 132,717 Shares of Neogen Corporation $NEOG

Kennedy Capital Management LLC trimmed its position in shares of Neogen Corporation (NASDAQ:NEOG) by 8.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,419,727 shares of the company’s stock after selling 132,717 shares during the period. Kennedy Capital Management LLC owned about 0.65% of Neogen worth $9,924,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Neogen by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 23,963,223 shares of the company’s stock valued at $136,830,000 after purchasing an additional 385,885 shares during the last quarter. Cibc World Markets Corp bought a new position in Neogen during the 4th quarter valued at about $47,983,000. Hudson Bay Capital Management LP grew its holdings in Neogen by 30.0% during the 4th quarter. Hudson Bay Capital Management LP now owns 6,500,000 shares of the company’s stock valued at $45,435,000 after purchasing an additional 1,500,000 shares during the last quarter. Geode Capital Management LLC grew its holdings in Neogen by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 5,428,084 shares of the company’s stock valued at $37,949,000 after purchasing an additional 48,009 shares during the last quarter. Finally, CIBC Bancorp USA Inc. bought a new position in Neogen during the 3rd quarter valued at about $28,969,000. 96.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. William Blair reissued a “market perform” rating on shares of Neogen in a research report on Monday, March 2nd. Wall Street Zen raised shares of Neogen from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Neogen in a research report on Friday, April 10th. Two equities research 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 currently has a consensus rating of “Hold” and a consensus price target of $10.67.

Neogen Price Performance

Neogen stock opened at $9.10 on Monday. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of -3.25, a price-to-earnings-growth ratio of 4.07 and a beta of 1.81. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.92 and a quick ratio of 2.84. Neogen Corporation has a 1 year low of $4.56 and a 1 year high of $11.43. The firm has a 50-day moving average of $9.17 and a two-hundred day moving average of $8.98.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings results on Thursday, April 9th. The company reported $0.09 earnings per share for the quarter, topping 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 firm had revenue of $211.20 million during the quarter, compared to analysts’ expectations of $204.62 million. The company’s revenue was down 4.4% compared to the same quarter last year. On average, 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.