Swiss National Bank Decreases Stock Position in Neogen Corporation $NEOG

Swiss National Bank reduced its position in Neogen Corporation (NASDAQ:NEOG) by 1.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 399,337 shares of the company’s stock after selling 5,500 shares during the period. Swiss National Bank owned about 0.18% of Neogen worth $3,462,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Versant Capital Management Inc raised its stake in Neogen by 1,495.4% during the 1st quarter. Versant Capital Management Inc now owns 3,127 shares of the company’s stock valued at $27,000 after buying an additional 2,931 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in Neogen during the 4th quarter valued at $43,000. Lindenwold Advisors INC purchased a new stake in Neogen during the 1st quarter valued at $92,000. Angeles Wealth Management LLC purchased a new stake in Neogen during the 1st quarter valued at $99,000. Finally, Guggenheim Capital LLC purchased a new stake in Neogen during the 4th quarter valued at $147,000. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

Neogen Trading Down 0.7%

NASDAQ:NEOG opened at $5.57 on Thursday. 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 firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -1.11 and a beta of 1.79. Neogen Corporation has a one year low of $3.87 and a one year high of $17.95. The business has a fifty day moving average price of $5.11 and a 200-day moving average price of $6.71.

Wall Street Analyst Weigh In

NEOG has been the subject of a number of research reports. William Blair lowered shares of Neogen from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 29th. Guggenheim decreased their target price on shares of Neogen from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, June 30th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently 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.