Blair William & Co. IL Decreases Stock Position in Neogen Corporation $NEOG

Key Points

• Blair William & Co. IL has significantly reduced its stock holdings in Neogen Corporation by 67.1%, selling over a million shares, and now owns approximately 0.24% of the company.
• Several institutional investors, including Caitong International Asset Management and KBC Group NV, have increased their stakes in Neogen during the first quarter.
• Current analyst ratings for Neogen show one Buy, four Hold, and one Sell, with an average target price of $8.33, reflecting mixed investor sentiment.

Blair William & Co. IL decreased its holdings in Neogen Corporation (NASDAQ:NEOG - Free Report) by 67.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 514,603 shares of the company's stock after selling 1,049,220 shares during the period. Blair William & Co. IL owned about 0.24% of Neogen worth $2,460,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd increased its stake in Neogen by 388.6% in 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 during the period. Lindenwold Advisors INC purchased a new stake in Neogen in the first quarter worth $92,000. Angeles Wealth Management LLC purchased a new stake in Neogen in the first quarter worth $99,000. KBC Group NV increased its stake in Neogen by 44.1% in the first quarter. KBC Group NV now owns 12,198 shares of the company's stock worth $106,000 after purchasing an additional 3,734 shares during the period. Finally, United Services Automobile Association purchased a new stake in Neogen in the first quarter worth $112,000. Hedge funds and other institutional investors own 96.73% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NEOG. Weiss Ratings reissued a "sell (e+)" rating on shares of Neogen in a research report on Wednesday, October 8th. Guggenheim decreased their target price on Neogen from $13.00 to $10.00 and set a "buy" rating for the company in a report on Monday, June 30th. CJS Securities began coverage on Neogen in a report on Monday, September 29th. They set a "market perform" rating and a $10.00 target price for the company. Wall Street Zen raised Neogen from a "sell" rating to a "hold" rating in a report on Saturday. Finally, William Blair downgraded Neogen from an "outperform" rating to a "market perform" rating in a report on Tuesday, July 29th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Neogen currently has an average rating of "Hold" and an average target price of $8.33.

Neogen Stock Down 0.7%

Shares of NEOG opened at $5.91 on Wednesday. Neogen Corporation has a 52-week low of $3.87 and a 52-week high of $16.79. The company has a market capitalization of $1.28 billion, a PE ratio of -1.23 and a beta of 1.90. The stock has a fifty day simple moving average of $5.62 and a two-hundred day simple moving average of $5.58. The company has a quick ratio of 2.26, a current ratio of 3.58 and a debt-to-equity ratio of 0.37.

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.

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