Royal Bank of Canada Sells 22,577 Shares of Neogen Corporation $NEOG

Royal Bank of Canada cut its holdings in Neogen Corporation (NASDAQ:NEOG) by 1.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,959,698 shares of the company’s stock after selling 22,577 shares during the quarter. Royal Bank of Canada owned approximately 0.90% of Neogen worth $16,990,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. CHICAGO TRUST Co NA lifted its holdings in Neogen by 19.1% in the first 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 lifted its holdings in shares of 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 purchasing an additional 2,165 shares during the last quarter. Yousif Capital Management LLC lifted its holdings 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 valued at $646,000 after purchasing an additional 2,769 shares during the last quarter. State of Wyoming increased its position in shares of Neogen by 6.3% during the fourth quarter. State of Wyoming now owns 47,775 shares of the company’s stock valued at $580,000 after acquiring an additional 2,846 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in shares of Neogen by 1,495.4% during the first quarter. Versant Capital Management Inc now owns 3,127 shares of the company’s stock valued at $27,000 after acquiring an additional 2,931 shares in the last quarter. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Zacks Research upgraded shares of Neogen from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 20th. Guggenheim dropped their price target on shares of Neogen from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, June 30th. Finally, William Blair cut shares of Neogen from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 29th. 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 company currently has an average rating of “Hold” and an average target price of $7.50.

Neogen Stock Up 1.2%

Shares of NASDAQ NEOG opened at $5.73 on Wednesday. The firm’s 50-day moving average price is $5.28 and its 200-day moving average price is $6.24. The company has a current ratio of 3.32, a quick ratio of 2.22 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of -1.14 and a beta of 1.85. Neogen Corporation has a 12-month low of $3.87 and a 12-month high of $17.95.

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.