Select Equity Group L.P. Has $9.71 Million Position in Neogen Corporation $NEOG

Select Equity Group L.P. lessened its holdings in shares of Neogen Corporation (NASDAQ:NEOG - Free Report) by 88.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,120,196 shares of the company's stock after selling 8,275,954 shares during the quarter. Select Equity Group L.P. owned approximately 0.52% of Neogen worth $9,712,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in NEOG. Gates Capital Management Inc. bought a new stake in shares of Neogen during the first quarter worth approximately $79,391,000. Clarkston Capital Partners LLC boosted its holdings in shares of Neogen by 118.9% during the first quarter. Clarkston Capital Partners LLC now owns 6,276,075 shares of the company's stock worth $54,414,000 after acquiring an additional 3,409,409 shares during the period. Millennium Management LLC bought a new stake in shares of Neogen during the first quarter worth approximately $20,761,000. Vanguard Group Inc. boosted its holdings in shares of Neogen by 8.8% during the first quarter. Vanguard Group Inc. now owns 23,550,128 shares of the company's stock worth $204,180,000 after acquiring an additional 1,912,877 shares during the period. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in shares of Neogen by 18.9% during the first quarter. T. Rowe Price Investment Management Inc. now owns 8,458,494 shares of the company's stock worth $73,336,000 after acquiring an additional 1,343,792 shares during the period. Institutional investors own 96.73% of the company's stock.

Neogen Trading Down 4.2%

NASDAQ NEOG traded down $0.24 on Friday, reaching $5.50. The company had a trading volume of 8,191,780 shares, compared to its average volume of 5,200,218. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.32 and a quick ratio of 2.22. The business has a 50 day moving average of $5.30 and a two-hundred day moving average of $6.14. Neogen Corporation has a fifty-two week low of $3.87 and a fifty-two week high of $17.95. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of -1.09 and a beta of 1.85.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NEOG shares. Zacks Research upgraded Neogen from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 20th. Guggenheim cut their price target on Neogen from $13.00 to $10.00 and set a "buy" rating for the company in a research note on Monday, June 30th. Finally, William Blair cut Neogen from an "outperform" rating to a "market perform" rating in a research note on Tuesday, July 29th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $7.50.

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.