Bayesian Capital Management LP Buys Shares of 11,103 Neogen Co. (NASDAQ:NEOG)

Bayesian Capital Management LP bought a new stake in shares of Neogen Co. (NASDAQ:NEOG) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 11,103 shares of the company’s stock, valued at approximately $175,000.

A number of other hedge funds have also modified their holdings of NEOG. Norges Bank bought a new position in shares of Neogen in the fourth quarter worth approximately $365,794,000. Baillie Gifford & Co. bought a new position in Neogen during the fourth quarter valued at $166,646,000. Vanguard Group Inc. lifted its position in Neogen by 9.3% during the fourth quarter. Vanguard Group Inc. now owns 19,546,737 shares of the company’s stock valued at $393,085,000 after purchasing an additional 1,663,125 shares during the last quarter. Bamco Inc. NY raised its stake in shares of Neogen by 10.3% in the first quarter. Bamco Inc. NY now owns 7,304,967 shares of the company’s stock valued at $115,272,000 after acquiring an additional 680,668 shares during the period. Finally, Trigran Investments Inc. purchased a new stake in shares of Neogen in the fourth quarter valued at $12,048,000. 96.73% of the stock is currently owned by institutional investors.

Neogen Trading Down 0.2 %

NEOG stock opened at $17.00 on Friday. The company has a market capitalization of $3.68 billion, a PE ratio of 1,701.70 and a beta of 1.20. Neogen Co. has a 12 month low of $11.46 and a 12 month high of $24.09. The firm’s 50-day moving average is $15.94 and its 200 day moving average is $15.27. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.82 and a quick ratio of 2.66.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.02). The company had revenue of $236.80 million during the quarter, compared to analysts’ expectations of $225.83 million. Neogen had a positive return on equity of 3.09% and a negative net margin of 1.02%. The company’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.14 EPS. On average, research analysts anticipate that Neogen Co. will post 0.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NEOG. Piper Sandler reduced their target price on shares of Neogen from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, April 15th. StockNews.com raised shares of Neogen to a “sell” rating in a research note on Wednesday, July 10th.

Neogen Profile

Neogen Corporation, together with its subsidiaries, engages in the development, manufacture, and marketing of various products and services dedicated to food and animal safety worldwide. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment offers diagnostic test kits and related products to detect dangerous and unintended substances in food and animal feed, including foodborne pathogens, spoilage organisms, natural toxins, food allergens, genetic modifications, ruminant by-products, meat speciation, drug residues, pesticide residues, and general sanitation concerns; and AccuPoint Advanced rapid sanitation test to detect the presence of adenosine triphosphate, a chemical found in living cells, as well as provides genomics-based diagnostic technology and software systems that help testers to objectively analyze and store their results and perform analysis on the results from multiple locations over extended periods.