Louisiana State Employees Retirement System Purchases New Position in Neogen Corporation $NEOG

Louisiana State Employees Retirement System acquired a new position in Neogen Corporation (NASDAQ:NEOG) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 96,500 shares of the company’s stock, valued at approximately $896,000.

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

Neogen Price Performance

Shares of NEOG stock opened at $9.34 on Monday. The stock’s fifty day moving average price is $9.06 and its 200 day moving average price is $9.29. Neogen Corporation has a 1-year low of $4.56 and a 1-year high of $11.43. The company has a market cap of $2.03 billion, a price-to-earnings ratio of -3.34, a price-to-earnings-growth ratio of 4.18 and a beta of 1.80. 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 (NASDAQ:NEOG) last announced its quarterly earnings data on Thursday, April 9th. The company reported $0.09 EPS for the quarter, beating 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 analyst estimates of $204.62 million. Neogen’s revenue was down 4.4% compared to the same quarter last year. On average, research analysts expect that Neogen Corporation will post 0.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NEOG has been the subject of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Neogen in a research report on Friday, April 10th. Wall Street Zen raised Neogen from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Two 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. According to data from MarketBeat.com, Neogen has a consensus rating of “Hold” and a consensus 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.