Neogen Corporation $NEOG Shares Acquired by Values First Advisors Inc.

Key Points

• Values First Advisors Inc. has significantly increased its stake in Neogen Corporation by 269.6%, now owning 109,907 shares valued at approximately $525,000.
• Neogen shares traded at $5.93, with its market cap standing at $1.29 billion and a 1-year price range of $3.87 to $16.79.
• Recent analyst ratings show mixed sentiment, with a consensus rating of "Hold" and a price target of $8.83.

Values First Advisors Inc. boosted its holdings in Neogen Corporation (NASDAQ:NEOG - Free Report) by 269.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 109,907 shares of the company's stock after purchasing an additional 80,171 shares during the quarter. Values First Advisors Inc. owned about 0.05% of Neogen worth $525,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. New York State Teachers Retirement System boosted its holdings in Neogen by 4.3% in the second quarter. New York State Teachers Retirement System now owns 134,066 shares of the company's stock valued at $641,000 after purchasing an additional 5,500 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Neogen by 260.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 68,349 shares of the company's stock valued at $327,000 after purchasing an additional 49,393 shares in the last quarter. CWM LLC boosted its holdings in Neogen by 165.7% in the second quarter. CWM LLC now owns 18,575 shares of the company's stock valued at $89,000 after purchasing an additional 11,584 shares in the last quarter. Inspire Investing LLC boosted its holdings in Neogen by 100.2% in the second quarter. Inspire Investing LLC now owns 93,416 shares of the company's stock valued at $447,000 after purchasing an additional 46,753 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings 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 in the last quarter. 96.73% of the stock is owned by institutional investors and hedge funds.

Neogen Price Performance

Shares of NASDAQ NEOG opened at $5.93 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.58 and a quick ratio of 2.26. The stock has a fifty day moving average price of $5.66 and a 200 day moving average price of $5.57. Neogen Corporation has a 1-year low of $3.87 and a 1-year high of $16.79. The company has a market cap of $1.29 billion, a PE ratio of -1.24 and a beta of 1.90.

Analyst Ratings Changes

A number of brokerages recently issued reports on NEOG. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Neogen in a report on Wednesday, October 8th. Piper Sandler set a $6.50 price objective on Neogen and gave the company a "neutral" rating in a research note on Thursday. Guggenheim reduced their price objective on Neogen from $13.00 to $10.00 and set a "buy" rating for the company in a research note on Monday, June 30th. William Blair cut Neogen from an "outperform" rating to a "market perform" rating in a research note on Tuesday, July 29th. Finally, Wall Street Zen upgraded Neogen from a "sell" rating to a "hold" rating in a research note on Saturday, October 11th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Neogen presently has a consensus rating of "Hold" and a consensus price target of $8.83.

Neogen Company 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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