AE Wealth Management LLC Purchases 10,761 Shares of Neogen Corporation $NEOG

AE Wealth Management LLC lifted its position in shares of Neogen Corporation (NASDAQ:NEOG) by 94.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,180 shares of the company’s stock after purchasing an additional 10,761 shares during the period. AE Wealth Management LLC’s holdings in Neogen were worth $106,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Caitong International Asset Management Co. Ltd lifted its position in shares of Neogen by 388.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 10,071 shares of the company’s stock worth $87,000 after purchasing an additional 8,010 shares during the period. Savant Capital LLC bought a new position in Neogen in the second quarter worth about $50,000. Lindenwold Advisors INC bought a new position in Neogen in the first quarter worth about $92,000. Angeles Wealth Management LLC purchased a new stake in Neogen in the first quarter worth about $99,000. Finally, Blue Trust Inc. boosted its position in Neogen by 181.7% during the 2nd quarter. Blue Trust Inc. now owns 11,974 shares of the company’s stock valued at $57,000 after acquiring an additional 7,724 shares in the last quarter. 96.73% of the stock is owned by institutional investors.

Neogen Trading Down 7.8%

Shares of NASDAQ NEOG opened at $5.92 on Wednesday. The firm’s 50 day moving average price is $5.94 and its 200-day moving average price is $5.63. Neogen Corporation has a 52-week low of $3.87 and a 52-week high of $15.73. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.26 and a current ratio of 3.58. The company has a market cap of $1.29 billion, a PE ratio of -1.23 and a beta of 1.90.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NEOG. CJS Securities assumed coverage on Neogen in a report on Monday, September 29th. They issued a “market perform” rating and a $10.00 price objective for the company. Wall Street Zen downgraded shares of Neogen from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Neogen in a research note on Thursday, November 13th. Piper Sandler set a $6.50 price target on shares of Neogen and gave the company a “neutral” rating in a research report on Thursday, October 16th. Finally, Zacks Research raised shares of Neogen from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 20th. One 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. Based on data from MarketBeat, Neogen presently 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.