Illinois Municipal Retirement Fund Invests $1.17 Million in Neogen Corporation $NEOG

Illinois Municipal Retirement Fund purchased a new stake in Neogen Corporation (NASDAQ:NEOG) in the first quarter, Holdings Channel.com reports. The fund purchased 126,139 shares of the company’s stock, valued at approximately $1,172,000.

A number of other institutional investors have also recently added to or reduced their stakes in NEOG. T. Rowe Price Investment Management Inc. grew its position in Neogen by 249.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,181,768 shares of the company’s stock worth $57,191,000 after buying an additional 5,838,570 shares during the period. Mackenzie Financial Corp lifted its position in shares of Neogen by 1.0% during the 4th quarter. Mackenzie Financial Corp now owns 7,898,439 shares of the company’s stock valued at $55,574,000 after acquiring an additional 79,010 shares during the period. Cibc World Markets Corp acquired a new stake in shares of Neogen during the 4th quarter valued at approximately $47,983,000. Hudson Bay Capital Management LP boosted its stake in shares of Neogen by 30.0% during the 4th quarter. Hudson Bay Capital Management LP now owns 6,500,000 shares of the company’s stock worth $45,435,000 after acquiring an additional 1,500,000 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Neogen by 287.4% during the 1st quarter. SG Americas Securities LLC now owns 6,266,033 shares of the company’s stock worth $58,211,000 after acquiring an additional 4,648,436 shares in the last quarter. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Wall Street Zen upgraded Neogen from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Neogen in a report on Wednesday, July 8th. 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $10.67.

Neogen Price Performance

Shares of NASDAQ NEOG opened at $9.83 on Thursday. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of -3.51, a PEG ratio of 4.45 and a beta of 1.80. Neogen Corporation has a 52 week low of $4.56 and a 52 week high of $11.43. The company’s 50-day moving average price is $9.23 and its 200 day moving average price is $9.53. The company has a current ratio of 3.92, a quick ratio of 2.84 and a debt-to-equity ratio of 0.38.

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.