Blue Trust Inc. Raises Holdings in Neogen Corporation $NEOG

Blue Trust Inc. increased its holdings in Neogen Corporation (NASDAQ:NEOG) by 181.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 11,974 shares of the company’s stock after acquiring an additional 7,724 shares during the period. Blue Trust Inc.’s holdings in Neogen were worth $57,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in NEOG. Greenleaf Trust purchased a new position in Neogen in the second quarter worth approximately $76,000. Avanza Fonder AB grew its position in Neogen by 17.9% in the second quarter. Avanza Fonder AB now owns 16,435 shares of the company’s stock worth $79,000 after acquiring an additional 2,499 shares during the period. Caitong International Asset Management Co. Ltd grew its position 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 worth $87,000 after acquiring an additional 8,010 shares during the period. Lindenwold Advisors INC purchased a new position in Neogen in the first quarter worth approximately $92,000. Finally, Angeles Wealth Management LLC purchased a new position in Neogen in the first quarter worth approximately $99,000. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

Neogen Trading Down 0.8%

NASDAQ:NEOG opened at $5.88 on Friday. The firm has a market cap of $1.28 billion, a PE ratio of -1.23 and a beta of 1.90. The stock has a fifty day moving average price of $5.68 and a 200 day moving average price of $5.53. Neogen Corporation has a 12-month low of $3.87 and a 12-month high of $16.79. The company has a current ratio of 3.58, a quick ratio of 2.26 and a debt-to-equity ratio of 0.37.

Analysts Set New Price Targets

Several research firms have recently commented on NEOG. Piper Sandler set a $6.50 price target on Neogen and gave the stock a “neutral” rating in a research report on Thursday. Guggenheim lowered their price target on Neogen from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, June 30th. Wall Street Zen upgraded Neogen from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Zacks Research upgraded Neogen from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 20th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Neogen in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $8.83.

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.