BNP Paribas Financial Markets Sells 456,279 Shares of Neogen Corporation $NEOG

BNP Paribas Financial Markets reduced its position in shares of Neogen Corporation (NASDAQ:NEOG) by 17.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,204,605 shares of the company’s stock after selling 456,279 shares during the quarter. BNP Paribas Financial Markets’ holdings in Neogen were worth $15,410,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. raised its holdings in Neogen by 816.9% during the 4th quarter. Hantz Financial Services Inc. now owns 7,592 shares of the company’s stock valued at $53,000 after buying an additional 6,764 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Neogen by 3,158.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 8,309 shares of the company’s stock worth $58,000 after purchasing an additional 8,054 shares in the last quarter. Merit Financial Group LLC bought a new position in Neogen in the 4th quarter worth $71,000. Swiss Life Asset Management Ltd bought a new position in Neogen in the 4th quarter worth $73,000. Finally, Tudor Investment Corp ET AL bought a new position in Neogen in the 3rd quarter worth $62,000. 96.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on NEOG shares. Weiss Ratings restated a “sell (d-)” rating on shares of Neogen in a report on Friday, April 10th. William Blair restated a “market perform” rating on shares of Neogen in a report on Monday, March 2nd. Finally, Wall Street Zen upgraded shares of 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 issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $10.67.

Neogen Stock Down 2.4%

NASDAQ:NEOG opened at $8.90 on Friday. The firm’s 50-day moving average price is $9.16 and its 200-day moving average price is $8.84. The company has a market capitalization of $1.94 billion, a PE ratio of -3.18, a P/E/G ratio of 3.99 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 Corporation has a 1-year low of $4.56 and a 1-year high of $11.43.

Neogen (NASDAQ:NEOG) last released its earnings results 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 for the quarter, compared to the consensus estimate of $204.62 million. Neogen had a negative net margin of 69.93% and a positive return on equity of 2.35%. Neogen’s quarterly revenue was down 4.4% compared to the same quarter last year. On average, equities analysts predict that Neogen Corporation will post 0.23 EPS for the current fiscal 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.