Neogen Corporation $NEOG Shares Bought by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Neogen Corporation by 16.5%, now owning approximately 1.40% of the company valued at $26.3 million.
• Various institutional investors have significantly raised their positions in Neogen, with 96.73% of the stock now owned by such investors.
• Analysts have mixed sentiments on Neogen, with recent ratings showing a downgrade to "market perform" and an average target price of $7.50.

American Century Companies Inc. lifted its stake in shares of Neogen Corporation (NASDAQ:NEOG - Free Report) by 16.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,034,872 shares of the company's stock after purchasing an additional 428,829 shares during the period. American Century Companies Inc. owned about 1.40% of Neogen worth $26,312,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Versant Capital Management Inc increased its stake in shares of Neogen by 1,495.4% during the first quarter. Versant Capital Management Inc now owns 3,127 shares of the company's stock worth $27,000 after purchasing an additional 2,931 shares in the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of Neogen during the fourth quarter worth about $43,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Neogen by 388.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 10,071 shares of the company's stock worth $87,000 after purchasing an additional 8,010 shares in the last quarter. Lindenwold Advisors INC purchased a new stake in shares of Neogen during the first quarter worth about $92,000. Finally, Angeles Wealth Management LLC purchased a new stake in shares of Neogen during the first quarter worth about $99,000. Hedge funds and other institutional investors own 96.73% of the company's stock.

Neogen Trading Down 0.8%

NASDAQ:NEOG traded down $0.05 on Thursday, hitting $5.70. The stock had a trading volume of 395,005 shares, compared to its average volume of 5,319,811. The company has a quick ratio of 2.22, a current ratio of 3.32 and a debt-to-equity ratio of 0.42. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of -1.13 and a beta of 1.79. The company has a fifty day moving average price of $5.13 and a two-hundred day moving average price of $6.53. Neogen Corporation has a 1-year low of $3.87 and a 1-year high of $17.95.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. William Blair cut shares of Neogen from an "outperform" rating to a "market perform" rating in a research note on Tuesday, July 29th. Zacks Research upgraded shares of Neogen from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 20th. Finally, Guggenheim lowered their price target on shares of Neogen from $13.00 to $10.00 and set a "buy" rating on the stock in a research report on Monday, June 30th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $7.50.

About Neogen

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.