Blair William & Co. IL Cuts Stake in Neogen Corporation (NASDAQ:NEOG)

Blair William & Co. IL decreased its holdings in Neogen Corporation (NASDAQ:NEOG - Free Report) by 49.4% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,563,823 shares of the company's stock after selling 1,526,191 shares during the period. Blair William & Co. IL owned approximately 0.72% of Neogen worth $13,558,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Versant Capital Management Inc boosted its stake in shares of Neogen by 1,495.4% in 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 in the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of Neogen in the 4th quarter valued at $43,000. Covestor Ltd boosted its stake in shares of Neogen by 41.4% in 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 in the last quarter. Lindenwold Advisors INC purchased a new stake in shares of Neogen in the 1st quarter valued at $92,000. Finally, Angeles Wealth Management LLC purchased a new stake in shares of Neogen in the 1st quarter valued at $99,000. Hedge funds and other institutional investors own 96.73% of the company's stock.

Analyst Ratings Changes

NEOG has been the subject of a number of analyst reports. William Blair lowered shares of Neogen from an "outperform" rating to a "market perform" rating in a report on Tuesday, July 29th. Piper Sandler decreased their price objective on shares of Neogen from $6.40 to $5.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Finally, Guggenheim decreased their price objective on shares of Neogen from $13.00 to $10.00 and set a "buy" rating for the company in a report on Monday, June 30th.

Neogen Stock Up 0.4%

Shares of Neogen stock opened at $4.68 on Tuesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.32 and a quick ratio of 2.22. The company has a 50-day moving average of $5.21 and a 200 day moving average of $7.17. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -0.93 and a beta of 1.79. Neogen Corporation has a 1 year low of $3.87 and a 1 year high of $17.95.

Insiders Place Their Bets

In other news, Director Aashima Gupta acquired 16,000 shares of Neogen stock in a transaction on Monday, May 12th. The stock was acquired at an average cost of $6.25 per share, for a total transaction of $100,000.00. Following the purchase, the director owned 21,917 shares in the company, valued at $136,981.25. This trade represents a 270.41% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.13% of the company's stock.

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.

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