Neogen Corporation $NEOG Shares Sold by Northern Trust Corp

Northern Trust Corp reduced its position in Neogen Corporation (NASDAQ:NEOG) by 16.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,990,479 shares of the company’s stock after selling 594,867 shares during the quarter. Northern Trust Corp owned about 1.38% of Neogen worth $25,927,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NEOG. Vanguard Group Inc. raised its stake in Neogen by 8.8% in the 1st quarter. Vanguard Group Inc. now owns 23,550,128 shares of the company’s stock valued at $204,180,000 after purchasing an additional 1,912,877 shares during the last quarter. Bamco Inc. NY raised its stake in Neogen by 16.2% in the 4th quarter. Bamco Inc. NY now owns 8,485,308 shares of the company’s stock valued at $103,012,000 after purchasing an additional 1,182,193 shares during the last quarter. Shapiro Capital Management LLC raised its stake in Neogen by 47.9% in the 4th quarter. Shapiro Capital Management LLC now owns 2,932,850 shares of the company’s stock valued at $35,605,000 after purchasing an additional 949,300 shares during the last quarter. Public Sector Pension Investment Board acquired a new position in Neogen in the 1st quarter valued at $5,428,000. Finally, Segall Bryant & Hamill LLC acquired a new stake in shares of Neogen in the 1st quarter worth $5,378,000. 96.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. William Blair downgraded Neogen from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 29th. Zacks Research raised Neogen from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 20th. Finally, Guggenheim cut their target price on Neogen from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, June 30th. One investment 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, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.50.

Neogen Stock Performance

NASDAQ NEOG opened at $5.75 on Monday. The stock has a market cap of $1.25 billion, a PE ratio of -1.14 and a beta of 1.84. 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 twelve month low of $3.87 and a twelve month high of $17.95. The stock has a fifty day simple moving average of $5.16 and a 200-day simple moving average of $6.42.

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.