CenterBook Partners LP Sells 122,640 Shares of Neogen Corporation $NEOG

CenterBook Partners LP reduced its holdings in shares of Neogen Corporation (NASDAQ:NEOG) by 21.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 460,367 shares of the company’s stock after selling 122,640 shares during the quarter. CenterBook Partners LP owned 0.21% of Neogen worth $3,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ING Groep NV bought a new position in shares of Neogen during the third quarter valued at $80,288,000. Public Sector Pension Investment Board lifted its holdings in shares of Neogen by 26.0% during the third quarter. Public Sector Pension Investment Board now owns 847,266 shares of the company’s stock valued at $4,838,000 after purchasing an additional 174,962 shares in the last quarter. Hudson Bay Capital Management LP bought a new position in shares of Neogen during the third quarter valued at $28,550,000. CIBC Bancorp USA Inc. bought a new position in shares of Neogen during the third quarter valued at $28,969,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Neogen by 19.9% during the third quarter. JPMorgan Chase & Co. now owns 1,680,212 shares of the company’s stock valued at $9,594,000 after purchasing an additional 278,886 shares in the last quarter. 96.73% of the stock is owned by institutional investors.

Neogen Stock Performance

Shares of NEOG opened at $9.07 on Tuesday. The company has a quick ratio of 2.84, a current ratio of 3.92 and a debt-to-equity ratio of 0.38. The business has a 50-day simple moving average of $9.16 and a two-hundred day simple moving average of $8.88. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of -3.24, a PEG ratio of 3.99 and a beta of 1.81. Neogen Corporation has a 52 week low of $4.56 and a 52 week high of $11.43.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings results on Thursday, April 9th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The business had revenue of $211.20 million during the quarter, compared to analysts’ expectations of $204.62 million. Neogen had a positive return on equity of 2.35% and a negative net margin of 69.93%.The company’s revenue was down 4.4% on a year-over-year basis. On average, analysts expect that Neogen Corporation will post 0.23 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Neogen in a report on Friday, April 10th. William Blair reissued a “market perform” rating on shares of Neogen in a report on Monday, March 2nd. Finally, Wall Street Zen raised Neogen from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Neogen currently has a consensus rating of “Hold” and a consensus target price of $10.67.

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.