Charles Schwab Investment Management Inc. Purchases 173,532 Shares of Neogen Corporation $NEOG

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Neogen Corporation by 8.4%, acquiring an additional 173,532 shares during the first quarter, bringing its total to 2,235,459 shares worth approximately $19.4 million.
• Institutional ownership of Neogen stands at 96.73%, with significant increases in holdings reported by several other investors, including a 90.3% increase by Principal Financial Group Inc.
• Despite recent investments, Neogen's stock has received mixed analyst ratings, with a current consensus rating of "Hold" and an average price target of $7.50.

Charles Schwab Investment Management Inc. increased its holdings in shares of Neogen Corporation (NASDAQ:NEOG - Free Report) by 8.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,235,459 shares of the company's stock after acquiring an additional 173,532 shares during the period. Charles Schwab Investment Management Inc. owned about 1.03% of Neogen worth $19,381,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Principal Financial Group Inc. increased its position in Neogen by 90.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,123,391 shares of the company's stock valued at $9,740,000 after acquiring an additional 533,064 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Neogen by 212.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 107,395 shares of the company's stock worth $931,000 after purchasing an additional 73,071 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Neogen by 24.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,939,984 shares of the company's stock worth $84,254,000 after purchasing an additional 1,345,056 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Neogen in the 4th quarter valued at approximately $2,744,000. Finally, State of Alaska Department of Revenue increased its position in shares of Neogen by 386.2% during the first quarter. State of Alaska Department of Revenue now owns 109,387 shares of the company's stock worth $948,000 after acquiring an additional 86,887 shares in the last quarter. 96.73% of the stock is currently owned by institutional investors.

Neogen Trading Up 0.5%

NASDAQ NEOG opened at $5.60 on Friday. The firm has a market capitalization of $1.22 billion, a PE ratio of -1.11 and a beta of 1.79. The business's 50-day moving average price is $5.11 and its two-hundred day moving average price is $6.67. The company has a current ratio of 3.32, a quick ratio of 2.22 and a debt-to-equity ratio of 0.42. Neogen Corporation has a 12 month low of $3.87 and a 12 month high of $17.95.

Analyst Ratings Changes

NEOG has been the subject of a number of recent research reports. William Blair downgraded shares of Neogen from an "outperform" rating to a "market perform" rating in a research note on Tuesday, July 29th. Guggenheim decreased their target price on Neogen from $13.00 to $10.00 and set a "buy" rating on the stock in a research report on Monday, June 30th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target 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.

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