State of Alaska Department of Revenue Grows Stake in Neogen Corporation $NEOG

State of Alaska Department of Revenue lifted its stake in shares of Neogen Corporation (NASDAQ:NEOG) by 7.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,424 shares of the company’s stock after purchasing an additional 8,037 shares during the period. State of Alaska Department of Revenue owned about 0.05% of Neogen worth $560,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of NEOG. Avanza Fonder AB increased its stake in shares of Neogen by 17.9% during the second quarter. Avanza Fonder AB now owns 16,435 shares of the company’s stock worth $79,000 after purchasing an additional 2,499 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in Neogen by 388.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 10,071 shares of the company’s stock valued at $87,000 after acquiring an additional 8,010 shares in the last quarter. Lindenwold Advisors INC purchased a new stake in Neogen during the 1st quarter valued at about $92,000. Angeles Wealth Management LLC purchased a new stake in Neogen during the 1st quarter valued at about $99,000. Finally, KBC Group NV grew its stake in Neogen by 44.1% during the 1st quarter. KBC Group NV now owns 12,198 shares of the company’s stock valued at $106,000 after acquiring an additional 3,734 shares in the last quarter. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Neogen Stock Performance

Shares of NEOG stock opened at $5.82 on Thursday. The firm’s 50 day moving average price is $5.50 and its 200-day moving average price is $5.67. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.22 and a current ratio of 3.32. Neogen Corporation has a one year low of $3.87 and a one year high of $16.79. The firm has a market cap of $1.26 billion, a P/E ratio of -1.16 and a beta of 1.90.

Wall Street Analysts Forecast Growth

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

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.