Cwm LLC Reduces Stock Position in Neogen Corporation (NASDAQ:NEOG)

Cwm LLC trimmed its position in Neogen Corporation (NASDAQ:NEOG) by 87.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,991 shares of the company’s stock after selling 46,911 shares during the period. Cwm LLC’s holdings in Neogen were worth $61,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of NEOG. Covestor Ltd grew its holdings in Neogen by 41.4% in the fourth quarter. Covestor Ltd now owns 4,103 shares of the company’s stock valued at $50,000 after purchasing an additional 1,202 shares during the period. CHICAGO TRUST Co NA raised its position 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 worth $108,000 after buying an additional 2,000 shares during the period. Ascent Group LLC raised its position in shares of Neogen by 17.8% in the 4th quarter. Ascent Group LLC now owns 14,340 shares of the company’s stock worth $174,000 after buying an additional 2,165 shares during the period. Commonwealth Equity Services LLC boosted its holdings in Neogen by 6.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 39,263 shares of the company’s stock valued at $477,000 after acquiring an additional 2,267 shares during the last quarter. Finally, Yousif Capital Management LLC grew its position in Neogen by 3.9% during the first quarter. Yousif Capital Management LLC now owns 74,508 shares of the company’s stock valued at $646,000 after acquiring an additional 2,769 shares during the period. 96.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. William Blair downgraded Neogen from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 29th. Piper Sandler dropped their target price 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. Finally, Guggenheim reduced their price target on shares of Neogen from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, June 30th.

Insider Buying and Selling at Neogen

In related news, Director Aashima Gupta bought 16,000 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were acquired at an average cost of $6.25 per share, for a total transaction of $100,000.00. Following the acquisition, the director owned 21,917 shares in the company, valued at $136,981.25. This represents a 270.41% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 1.13% of the stock is owned by insiders.

Neogen Stock Up 0.2%

Shares of NASDAQ NEOG opened at $4.66 on Friday. The stock has a fifty day moving average price of $5.24 and a 200 day moving average price of $7.25. The company has a current ratio of 3.32, a quick ratio of 2.45 and a debt-to-equity ratio of 0.42. Neogen Corporation has a 12-month low of $3.87 and a 12-month high of $17.95. The company has a market cap of $1.01 billion, a P/E ratio of -0.93 and a beta of 1.79.

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.