Jupiter Topco LLC Acquires New Holdings in Neogen Corporation $NEOG

Jupiter Topco LLC acquired a new position in Neogen Corporation (NASDAQ:NEOG) in the second quarter, Holdings Channel reports. The fund acquired 101,525 shares of the company’s stock, valued at approximately $911,000.

A number of other hedge funds also recently bought and sold shares of the stock. UMB Bank n.a. boosted its position in Neogen by 238.2% during the 4th quarter. UMB Bank n.a. now owns 6,422 shares of the company’s stock valued at $45,000 after acquiring an additional 4,523 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in shares of Neogen by 816.9% during the 4th quarter. Hantz Financial Services Inc. now owns 7,592 shares of the company’s stock worth $53,000 after purchasing an additional 6,764 shares during the last quarter. Cresset Asset Management LLC purchased a new stake in shares of Neogen during the 2nd quarter worth $53,000. Evergreen Capital Management LLC bought a new stake in Neogen during the second quarter valued at about $56,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Neogen by 3,158.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 8,309 shares of the company’s stock valued at $58,000 after purchasing an additional 8,054 shares in the last quarter. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Neogen Price Performance

NASDAQ NEOG opened at $11.83 on Friday. The company has a market cap of $2.58 billion, a price-to-earnings ratio of -394.33, a PEG ratio of 4.44 and a beta of 1.76. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.82 and a quick ratio of 2.91. The stock’s fifty day moving average price is $10.71 and its 200 day moving average price is $9.90. Neogen Corporation has a 1 year low of $4.90 and a 1 year high of $12.85.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.03. The business had revenue of $225.30 million for the quarter, compared to the consensus estimate of $212.35 million. Neogen had a positive return on equity of 2.78% and a negative net margin of 0.91%.The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($2.82) EPS. As a group, equities research analysts forecast that Neogen Corporation will post 0.27 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have commented on NEOG. Wall Street Zen upgraded shares of Neogen from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings raised shares of Neogen from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 7th. Finally, Piper Sandler upgraded shares of Neogen from a “neutral” rating to an “overweight” rating and raised their price target for the company from $13.00 to $14.00 in a report on Wednesday, August 26th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $12.00.

Neogen Company 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.