Neogen Corporation (NASDAQ:NEOG) Shares Bought by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC boosted its stake in shares of Neogen Corporation (NASDAQ:NEOG - Free Report) by 2.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,710,850 shares of the company's stock after buying an additional 68,124 shares during the period. Stephens Investment Management Group LLC owned 1.25% of Neogen worth $23,503,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Covestor Ltd boosted its stake in Neogen by 41.4% during the fourth quarter. Covestor Ltd now owns 4,103 shares of the company's stock worth $50,000 after buying an additional 1,202 shares during the last quarter. CHICAGO TRUST Co NA lifted its stake in shares of Neogen by 19.1% in the 1st quarter. CHICAGO TRUST Co NA now owns 12,498 shares of the company's stock valued at $108,000 after purchasing an additional 2,000 shares during the last quarter. Ascent Group LLC lifted its stake in shares of Neogen by 17.8% in the 4th quarter. Ascent Group LLC now owns 14,340 shares of the company's stock valued at $174,000 after purchasing an additional 2,165 shares during the last quarter. Harbour Investments Inc. acquired a new position in shares of Neogen in the 4th quarter valued at $27,000. Finally, Commonwealth Equity Services LLC lifted its stake in shares of Neogen by 6.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 39,263 shares of the company's stock valued at $477,000 after purchasing an additional 2,267 shares during the last quarter. Institutional investors and hedge funds own 96.73% of the company's stock.

Neogen Price Performance

NEOG stock opened at $5.39 on Monday. The company has a current ratio of 3.91, a quick ratio of 2.45 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $1.17 billion, a PE ratio of -2.42 and a beta of 1.77. Neogen Corporation has a 12-month low of $3.87 and a 12-month high of $18.58. The business's fifty day moving average price is $5.61 and its 200 day moving average price is $8.00.

Insider Transactions at Neogen

In related news, Director James C. Borel purchased 35,000 shares of the business's stock in a transaction on Thursday, April 24th. The shares were bought at an average price of $4.89 per share, for a total transaction of $171,150.00. Following the acquisition, the director directly owned 60,474 shares in the company, valued at $295,717.86. This trade represents a 137.39% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James P. Tobin purchased 10,000 shares of the business's stock in a transaction on Tuesday, April 22nd. The shares were bought at an average price of $4.73 per share, for a total transaction of $47,300.00. Following the acquisition, the director owned 37,474 shares in the company, valued at $177,252.02. This trade represents a 36.40% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 73,500 shares of company stock worth $380,825 over the last quarter. 1.13% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on NEOG shares. Piper Sandler decreased their price target on Neogen from $6.40 to $5.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Guggenheim decreased their price target on Neogen from $13.00 to $10.00 and set a "buy" rating on the stock in a research note on Monday, June 30th.

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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