Neogen Corporation $NEOG Shares Acquired by Blue Trust Inc.

Blue Trust Inc. grew its stake in Neogen Corporation (NASDAQ:NEOG) by 181.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,974 shares of the company’s stock after buying an additional 7,724 shares during the quarter. Blue Trust Inc.’s holdings in Neogen were worth $57,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of NEOG. Gates Capital Management Inc. acquired a new position in Neogen in the 1st quarter worth about $79,391,000. Clarkston Capital Partners LLC raised its holdings in Neogen by 118.9% in the 1st quarter. Clarkston Capital Partners LLC now owns 6,276,075 shares of the company’s stock worth $54,414,000 after purchasing an additional 3,409,409 shares during the period. Millennium Management LLC acquired a new position in Neogen in the 1st quarter worth about $20,761,000. Vanguard Group Inc. raised its holdings in Neogen by 8.8% in the 1st quarter. Vanguard Group Inc. now owns 23,550,128 shares of the company’s stock worth $204,180,000 after purchasing an additional 1,912,877 shares during the period. Finally, T. Rowe Price Investment Management Inc. raised its holdings in Neogen by 18.9% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 8,458,494 shares of the company’s stock worth $73,336,000 after purchasing an additional 1,343,792 shares during the period. Institutional investors and hedge funds own 96.73% of the company’s stock.

Neogen Price Performance

NEOG stock opened at $5.88 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.58 and a quick ratio of 2.26. The business has a 50 day simple moving average of $5.68 and a 200-day simple moving average of $5.53. The firm has a market capitalization of $1.28 billion, a PE ratio of -1.23 and a beta of 1.90. Neogen Corporation has a 1 year low of $3.87 and a 1 year high of $16.79.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NEOG. Wall Street Zen raised Neogen from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Guggenheim reduced their price target on Neogen from $13.00 to $10.00 and set a “buy” rating for the company in a report on Monday, June 30th. William Blair cut Neogen from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 29th. Piper Sandler set a $6.50 target price on Neogen and gave the company a “neutral” rating in a report on Thursday. Finally, CJS Securities began coverage on Neogen in a report on Monday, September 29th. They set a “market perform” rating and a $10.00 target price for the company. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $8.83.

Neogen Company 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.