New York State Common Retirement Fund Lowers Stock Holdings in Neogen Corporation (NASDAQ:NEOG)

New York State Common Retirement Fund reduced its stake in shares of Neogen Corporation (NASDAQ:NEOG - Free Report) by 23.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 218,704 shares of the company's stock after selling 67,963 shares during the period. New York State Common Retirement Fund owned about 0.10% of Neogen worth $1,896,000 as of its most recent filing with the SEC.

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

Neogen Trading Up 2.0%

NASDAQ NEOG traded up $0.10 during trading on Friday, hitting $5.22. 4,148,444 shares of the company's stock traded hands, compared to its average volume of 5,277,687. The stock has a fifty day moving average of $5.40 and a two-hundred day moving average of $7.60. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.91 and a quick ratio of 2.45. Neogen Corporation has a 12-month low of $3.87 and a 12-month high of $18.58. The firm has a market cap of $1.13 billion, a P/E ratio of -2.34 and a beta of 1.77.

Insider Buying and Selling at Neogen

In other news, Director Aashima Gupta bought 16,000 shares of the company's stock in a transaction dated Monday, May 12th. The stock was bought at an average cost of $6.25 per share, for a total transaction of $100,000.00. Following the completion of the acquisition, the director owned 21,917 shares in the company, valued at approximately $136,981.25. This trade represents a 270.41% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.13% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on NEOG shares. Guggenheim reduced their target price on Neogen from $13.00 to $10.00 and set a "buy" rating on the stock in a research note on Monday, June 30th. Piper Sandler cut their price target on shares of Neogen from $6.40 to $5.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd.

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.