Neogen Corporation (NASDAQ:NEOG) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in shares of Neogen Corporation (NASDAQ:NEOG - Free Report) by 5.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,477,998 shares of the company's stock after selling 87,625 shares during the quarter. Bank of New York Mellon Corp owned 0.68% of Neogen worth $12,814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NEOG. Harbour Investments Inc. purchased a new position in Neogen during the 4th quarter worth $27,000. Versant Capital Management Inc grew its stake in Neogen by 1,495.4% during the 1st quarter. Versant Capital Management Inc now owns 3,127 shares of the company's stock valued at $27,000 after purchasing an additional 2,931 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in Neogen during the 4th quarter valued at about $43,000. Covestor Ltd grew its stake in Neogen by 41.4% during the 4th quarter. Covestor Ltd now owns 4,103 shares of the company's stock valued at $50,000 after purchasing an additional 1,202 shares during the last quarter. Finally, KBC Group NV grew its stake in Neogen by 44.1% during the 1st quarter. KBC Group NV now owns 12,198 shares of the company's stock valued at $106,000 after purchasing an additional 3,734 shares during the last quarter. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. Piper Sandler dropped their price target on Neogen from $6.40 to $5.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Guggenheim dropped their price target on Neogen from $13.00 to $10.00 and set a "buy" rating on the stock in a research note on Monday, June 30th.

Insider Activity

In related news, Director Aashima Gupta acquired 16,000 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was acquired at an average price of $6.25 per share, with a total value of $100,000.00. Following the acquisition, the director directly owned 21,917 shares in the company, valued at $136,981.25. This represents a 270.41% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.13% of the stock is currently owned by company insiders.

Neogen Stock Performance

Shares of NEOG stock traded up $0.06 on Thursday, hitting $5.12. The company had a trading volume of 4,200,682 shares, compared to its average volume of 5,836,093. The firm has a market cap of $1.11 billion, a P/E ratio of -2.30 and a beta of 1.77. The company has a 50-day moving average price of $5.40 and a 200-day moving average price of $7.60. The company has a quick ratio of 2.45, a current ratio of 3.91 and a debt-to-equity ratio of 0.33. Neogen Corporation has a twelve month low of $3.87 and a twelve month high of $18.58.

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.