Healthcare of Ontario Pension Plan Trust Fund Sells 193,454 Shares of Neogen Corporation $NEOG

Key Points

• Healthcare of Ontario Pension Plan Trust Fund reduced its Neogen stake by 5.5%, selling 193,454 shares during the first quarter. It still held 3.30 million shares, worth approximately $30.6 million and representing 1.51% of the company.
• Neogen shares opened at $9.40, within a 12-month range of $4.56 to $11.43. The company has a $2.05 billion market capitalization, while institutional investors collectively own 96.73% of its stock.
• Analyst sentiment remains mixed: two analysts rate Neogen a Buy, three recommend Hold and one recommends Sell. The stock carries a consensus rating of Hold and a target price of $10.67.

Healthcare of Ontario Pension Plan Trust Fund cut its holdings in Neogen Corporation (NASDAQ:NEOG - Free Report) by 5.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,297,346 shares of the company's stock after selling 193,454 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 1.51% of Neogen worth $30,632,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Huntington National Bank increased its stake in Neogen by 8.4% in the 4th quarter. Huntington National Bank now owns 13,552 shares of the company's stock valued at $95,000 after buying an additional 1,045 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Neogen by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 42,509 shares of the company's stock worth $297,000 after buying an additional 1,331 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Neogen by 1.2% in the 4th quarter. State of Alaska Department of Revenue now owns 110,645 shares of the company's stock valued at $773,000 after acquiring an additional 1,353 shares in the last quarter. Evergreen Capital Management LLC grew its holdings in shares of Neogen by 12.3% in the 4th quarter. Evergreen Capital Management LLC now owns 13,753 shares of the company's stock valued at $96,000 after acquiring an additional 1,504 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its position in shares of Neogen by 10.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 17,837 shares of the company's stock valued at $125,000 after acquiring an additional 1,638 shares during the last quarter. Institutional investors own 96.73% of the company's stock.

Neogen Stock Performance

Shares of NASDAQ:NEOG opened at $9.40 on Monday. Neogen Corporation has a 12-month low of $4.56 and a 12-month high of $11.43. The stock has a market cap of $2.05 billion, a PE ratio of -3.36, a P/E/G ratio of 4.21 and a beta of 1.80. The business has a 50 day moving average of $9.28 and a 200-day moving average of $9.57. The company has a quick ratio of 2.84, a current ratio of 3.92 and a debt-to-equity ratio of 0.38.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NEOG shares. Wall Street Zen raised Neogen from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Weiss Ratings cut shares of Neogen from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Neogen presently has an average rating of "Hold" and a consensus target price of $10.67.

Neogen Profile

Neogen Corporation is a global provider of food and animal safety products, offering a broad portfolio of diagnostic and testing solutions. Headquartered in Lansing, Michigan, the company develops and manufactures tests designed to detect foodborne pathogens, allergens and toxins in food, beverage and environmental samples. Since its founding in 1982, Neogen has focused on delivering rapid, accurate and user‐friendly assays to food processors, grain handlers and quality laboratories around the world.

In the food safety arena, Neogen's product lineup includes immunoassay kits, molecular diagnostics and enrichment media for pathogens such as Salmonella, Listeria and E.

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