Banque Pictet & Cie SA Has $9.01 Million Position in Neogen Corporation $NEOG

Key Points

• Banque Pictet & Cie SA reduced its stake in Neogen Corporation by 3.2%, holding $9.01 million worth of shares after selling 62,440 shares in the last quarter.
• Neogen has a market capitalization of $1.16 billion and its stock price recently opened at $5.36, with a 12-month low of $3.87 and a high of $17.18.
• Analysts have downgraded Neogen's stock ratings, with a current consensus rating of "Hold" and a price target of $7.50.

Banque Pictet & Cie SA lessened its stake in shares of Neogen Corporation (NASDAQ:NEOG - Free Report) by 3.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,885,650 shares of the company's stock after selling 62,440 shares during the period. Banque Pictet & Cie SA owned 0.87% of Neogen worth $9,013,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Squarepoint Ops LLC bought a new stake in shares of Neogen during the 4th quarter worth $840,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Neogen by 8.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 549,639 shares of the company's stock valued at $6,673,000 after acquiring an additional 43,621 shares during the period. Ascent Group LLC grew its position in shares of Neogen by 17.8% in the fourth quarter. Ascent Group LLC now owns 14,340 shares of the company's stock valued at $174,000 after purchasing an additional 2,165 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of Neogen by 1,495.4% in 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 during the period. Finally, Moody National Bank Trust Division increased its stake in shares of Neogen by 163.2% in the first quarter. Moody National Bank Trust Division now owns 39,136 shares of the company's stock worth $339,000 after purchasing an additional 24,268 shares during the period. Institutional investors own 96.73% of the company's stock.

Neogen Price Performance

Shares of NEOG stock opened at $5.36 on Friday. Neogen Corporation has a 12 month low of $3.87 and a 12 month high of $17.18. The company has a market capitalization of $1.16 billion, a P/E ratio of -1.07 and a beta of 1.85. The stock has a 50 day moving average of $5.36 and a two-hundred day moving average of $5.89. The company has a current ratio of 3.32, a quick ratio of 2.22 and a debt-to-equity ratio of 0.42.

Analysts Set New Price Targets

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

Neogen Company 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.

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