HighTower Advisors LLC Has $109,000 Stake in Neogen Corporation $NEOG

HighTower Advisors LLC decreased its stake in shares of Neogen Corporation (NASDAQ:NEOG) by 19.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 12,550 shares of the company’s stock after selling 3,051 shares during the period. HighTower Advisors LLC’s holdings in Neogen were worth $109,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Neogen by 8.8% during the 1st quarter. Vanguard Group Inc. now owns 23,550,128 shares of the company’s stock valued at $204,180,000 after acquiring an additional 1,912,877 shares during the last quarter. Conestoga Capital Advisors LLC increased its holdings in shares of Neogen by 0.4% during the 1st quarter. Conestoga Capital Advisors LLC now owns 8,540,859 shares of the company’s stock valued at $74,049,000 after acquiring an additional 37,271 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of Neogen by 5.7% during the 4th quarter. Mackenzie Financial Corp now owns 7,826,349 shares of the company’s stock valued at $95,012,000 after acquiring an additional 423,923 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Neogen by 2.2% during the 4th quarter. Bank of America Corp DE now owns 3,578,755 shares of the company’s stock valued at $43,446,000 after acquiring an additional 76,906 shares during the last quarter. Finally, Shapiro Capital Management LLC increased its holdings in shares of Neogen by 47.9% during the 4th quarter. Shapiro Capital Management LLC now owns 2,932,850 shares of the company’s stock valued at $35,605,000 after acquiring an additional 949,300 shares during the last quarter. Institutional investors and hedge funds own 96.73% of the company’s stock.

Analyst Upgrades and Downgrades

NEOG has been the topic of a number of analyst reports. William Blair lowered Neogen from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 29th. Zacks Research raised Neogen from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 20th. Finally, Guggenheim lowered their target price on Neogen from $13.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, June 30th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Neogen has a consensus rating of “Hold” and an average price target of $7.50.

Neogen Stock Performance

NEOG opened at $5.75 on Friday. The stock has a market cap of $1.25 billion, a PE ratio of -1.14 and a beta of 1.85. 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 1 year low of $3.87 and a 1 year high of $17.95. The stock’s 50 day simple moving average is $5.25 and its 200-day simple moving average is $6.32.

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.