Truist Financial Corp Decreases Position in Neogen Corporation $NEOG

Truist Financial Corp cut its position in Neogen Corporation (NASDAQ:NEOG) by 55.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 27,596 shares of the company’s stock after selling 35,023 shares during the period. Truist Financial Corp’s holdings in Neogen were worth $132,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Greenleaf Trust purchased a new position in Neogen in the second quarter worth about $76,000. State of Alaska Department of Revenue raised its holdings in shares of Neogen by 7.3% during the second quarter. State of Alaska Department of Revenue now owns 117,424 shares of the company’s stock valued at $560,000 after purchasing an additional 8,037 shares during the last quarter. Bank Pictet & Cie Europe AG raised its holdings in shares of Neogen by 6.4% during the second quarter. Bank Pictet & Cie Europe AG now owns 99,025 shares of the company’s stock valued at $473,000 after purchasing an additional 5,975 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new position in shares of Neogen during the second quarter valued at approximately $397,000. Finally, GAMMA Investing LLC raised its holdings in shares of Neogen by 966.5% during the second quarter. GAMMA Investing LLC now owns 22,972 shares of the company’s stock valued at $110,000 after purchasing an additional 20,818 shares during the last quarter. 96.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Neogen from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Guggenheim decreased their price objective on shares of Neogen from $13.00 to $10.00 and set a “buy” rating for the company in a report on Monday, June 30th. Zacks Research raised shares of Neogen from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 20th. William Blair cut shares of Neogen from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 29th. Finally, Piper Sandler set a $6.50 target price on shares of Neogen and gave the company a “neutral” rating in a report on Thursday. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Neogen currently has an average rating of “Hold” and an average target price of $8.83.

Neogen Stock Performance

NEOG opened at $5.88 on Friday. The firm has a market cap of $1.28 billion, a P/E 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. The company has a 50 day simple moving average of $5.68 and a two-hundred day simple moving average of $5.53. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.58 and a quick ratio of 2.26.

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.