VIRGINIA RETIREMENT SYSTEMS ET Al Purchases New Stake in Neogen Corporation $NEOG

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Neogen Corporation (NASDAQ:NEOG) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 18,728 shares of the company’s stock, valued at approximately $90,000.

Other institutional investors have also modified their holdings of the company. Russell Investments Group Ltd. grew its stake in shares of Neogen by 29.4% in the first quarter. Russell Investments Group Ltd. now owns 451,898 shares of the company’s stock worth $3,916,000 after purchasing an additional 102,640 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Neogen by 90.3% in the first quarter. Principal Financial Group Inc. now owns 1,123,391 shares of the company’s stock worth $9,740,000 after purchasing an additional 533,064 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Neogen by 212.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 107,395 shares of the company’s stock worth $931,000 after purchasing an additional 73,071 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Neogen by 8.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,235,459 shares of the company’s stock worth $19,381,000 after purchasing an additional 173,532 shares in the last quarter. Finally, Malaga Cove Capital LLC boosted its position in shares of Neogen by 53.2% in the 1st quarter. Malaga Cove Capital LLC now owns 157,695 shares of the company’s stock valued at $1,367,000 after purchasing an additional 54,761 shares during the period. Institutional investors own 96.73% of the company’s stock.

Analyst Ratings Changes

NEOG has been the subject of a number of research reports. William Blair lowered Neogen from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 29th. Guggenheim reduced their price target on shares of Neogen from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, June 30th. Weiss Ratings reissued a “sell (e+)” rating on shares of Neogen in a research report on Saturday. Piper Sandler set a $6.50 price target on shares of Neogen and gave the stock a “neutral” rating in a research report on Thursday, October 16th. Finally, CJS Securities assumed coverage on shares of Neogen in a research report on Monday, September 29th. They issued a “market perform” rating and a $10.00 price target for the company. One equities research 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’s stock. According to MarketBeat.com, Neogen has a consensus rating of “Hold” and an average price target of $8.83.

Neogen Stock Up 2.0%

Shares of NEOG stock opened at $6.19 on Monday. Neogen Corporation has a 12 month low of $3.87 and a 12 month high of $16.79. The firm has a market cap of $1.35 billion, a PE ratio of -1.29 and a beta of 1.90. The stock has a 50 day moving average of $5.74 and a 200-day moving average of $5.48. The company has a quick ratio of 2.26, a current ratio of 3.58 and a debt-to-equity ratio of 0.37.

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.