LPL Financial LLC Buys 13,626 Shares of Neogen Corporation $NEOG

LPL Financial LLC boosted its stake in Neogen Corporation (NASDAQ:NEOG) by 7.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 192,759 shares of the company’s stock after purchasing an additional 13,626 shares during the quarter. LPL Financial LLC owned approximately 0.09% of Neogen worth $1,567,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of NEOG. CHICAGO TRUST Co NA lifted its position in 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 last quarter. Ascent Group LLC grew its position in Neogen by 17.8% during the fourth quarter. Ascent Group LLC now owns 14,340 shares of the company’s stock valued at $174,000 after acquiring an additional 2,165 shares during the last quarter. Yousif Capital Management LLC raised its stake in shares of Neogen by 3.9% during the first quarter. Yousif Capital Management LLC now owns 74,508 shares of the company’s stock worth $646,000 after acquiring an additional 2,769 shares in the last quarter. State of Wyoming lifted its holdings in shares of Neogen by 6.3% in the 4th quarter. State of Wyoming now owns 47,775 shares of the company’s stock worth $580,000 after acquiring an additional 2,846 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of Neogen by 1,495.4% in the 1st quarter. Versant Capital Management Inc now owns 3,127 shares of the company’s stock valued at $27,000 after purchasing an additional 2,931 shares in the last quarter. 96.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NEOG shares. William Blair lowered Neogen from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 29th. Guggenheim dropped their price target on shares of Neogen from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, June 30th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Neogen presently has an average rating of “Hold” and a consensus price target of $7.50.

Neogen Trading Up 0.5%

NASDAQ:NEOG opened at $5.60 on Friday. The company has a 50-day moving average price of $5.11 and a 200-day moving average price of $6.67. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -1.11 and a beta of 1.79. The company has a current ratio of 3.32, a quick ratio of 2.22 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.

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.