Inspire Investing LLC Acquires 46,753 Shares of Neogen Corporation $NEOG

Key Points

• Inspire Investing LLC has significantly increased its stake in Neogen Corporation by 100.2%, acquiring an additional 46,753 shares, bringing its total holdings to 93,416 shares worth $447,000.
• Neogen's stock has faced volatility, currently trading at $6.04, with a notable 10.9% decline recently, despite having a market capitalization of $1.31 billion.
• Wall Street analysts have mixed views on Neogen, with an average rating of "Hold" and a price target of $8.33, while one analyst has downgraded the stock to a “market perform” rating.

Inspire Investing LLC increased its holdings in Neogen Corporation (NASDAQ:NEOG - Free Report) by 100.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,416 shares of the company's stock after acquiring an additional 46,753 shares during the period. Inspire Investing LLC's holdings in Neogen were worth $447,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of NEOG. Caitong International Asset Management Co. Ltd lifted 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 valued at $87,000 after purchasing an additional 8,010 shares during the last quarter. Lindenwold Advisors INC purchased a new position in Neogen in the first quarter valued at approximately $92,000. Angeles Wealth Management LLC purchased a new position in Neogen in the first quarter valued at approximately $99,000. Blue Trust Inc. lifted its stake in Neogen by 181.7% in the second quarter. Blue Trust Inc. now owns 11,974 shares of the company's stock valued at $57,000 after purchasing an additional 7,724 shares during the last quarter. Finally, KBC Group NV lifted its stake in Neogen by 44.1% in the first quarter. KBC Group NV now owns 12,198 shares of the company's stock valued at $106,000 after purchasing an additional 3,734 shares during the last quarter. 96.73% of the stock is owned by institutional investors.

Neogen Trading Down 10.9%

Shares of NEOG stock opened at $6.04 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.26 and a current ratio of 3.58. 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 $1.31 billion, a PE ratio of -1.26 and a beta of 1.90. The business's fifty day moving average is $5.57 and its 200 day moving average is $5.60.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. William Blair downgraded Neogen from an "outperform" rating to a "market perform" rating in a research note on Tuesday, July 29th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Neogen in a research note on Wednesday, October 8th. CJS Securities assumed coverage on Neogen in a research note on Monday, September 29th. They issued a "market perform" rating and a $10.00 price objective on the stock. Guggenheim dropped their price objective on Neogen from $13.00 to $10.00 and set a "buy" rating on the stock in a research note on Monday, June 30th. Finally, Wall Street Zen upgraded Neogen from a "sell" rating to a "hold" rating in a research note on Saturday. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $8.33.

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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