Wealth Enhancement Advisory Services LLC Has $611,000 Stock Position in Neogen Corporation $NEOG

Wealth Enhancement Advisory Services LLC increased its position in shares of Neogen Corporation (NASDAQ:NEOG) by 19.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 127,861 shares of the company’s stock after purchasing an additional 20,466 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.06% of Neogen worth $611,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Gates Capital Management Inc. bought a new position in shares of Neogen in the 1st quarter valued at about $79,391,000. Clarkston Capital Partners LLC raised its holdings in shares of Neogen by 118.9% in the first quarter. Clarkston Capital Partners LLC now owns 6,276,075 shares of the company’s stock valued at $54,414,000 after purchasing an additional 3,409,409 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of Neogen in the first quarter valued at approximately $20,761,000. Vanguard Group Inc. raised its holdings in shares of Neogen by 8.8% in the first 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. Finally, T. Rowe Price Investment Management Inc. raised its holdings in shares of Neogen by 18.9% in the first quarter. T. Rowe Price Investment Management Inc. now owns 8,458,494 shares of the company’s stock valued at $73,336,000 after purchasing an additional 1,343,792 shares during the last quarter. Institutional investors and hedge funds own 96.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on NEOG shares. Guggenheim lowered their target price on shares of Neogen from $13.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, June 30th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Neogen in a research report on Saturday, September 27th. CJS Securities initiated coverage on shares of Neogen in a research report on Monday, September 29th. They set a “market perform” rating and a $10.00 price objective for the company. Zacks Research raised Neogen from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 20th. Finally, William Blair downgraded Neogen from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 29th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $8.33.

Neogen Trading Up 4.5%

Shares of Neogen stock opened at $6.06 on Friday. The stock has a fifty day moving average price of $5.46 and a 200-day moving average price of $5.72. Neogen Corporation has a 1 year low of $3.87 and a 1 year high of $16.79. The firm has a market cap of $1.32 billion, a PE ratio of -1.20 and a beta of 1.90. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.32 and a quick ratio of 2.22.

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.