Geode Capital Management LLC Increases Holdings in Neogen Corporation $NEOG

Geode Capital Management LLC raised its holdings in shares of Neogen Corporation (NASDAQ:NEOG) by 0.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,142,743 shares of the company’s stock after purchasing an additional 41,193 shares during the period. Geode Capital Management LLC owned 2.37% of Neogen worth $24,585,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in NEOG. PNC Financial Services Group Inc. raised its holdings in shares of Neogen by 35.1% during the second quarter. PNC Financial Services Group Inc. now owns 21,075 shares of the company’s stock valued at $101,000 after acquiring an additional 5,474 shares in the last quarter. Jackson Square Partners LLC bought a new position in Neogen in the 2nd quarter worth $1,651,000. AE Wealth Management LLC lifted its position in shares of Neogen by 94.2% in the 2nd quarter. AE Wealth Management LLC now owns 22,180 shares of the company’s stock worth $106,000 after purchasing an additional 10,761 shares during the period. Savant Capital LLC purchased a new stake in shares of Neogen in the 2nd quarter worth about $50,000. Finally, Bryce Point Capital LLC boosted its stake in shares of Neogen by 35.6% during the 2nd quarter. Bryce Point Capital LLC now owns 154,958 shares of the company’s stock valued at $741,000 after purchasing an additional 40,702 shares in the last quarter. 96.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NEOG. Wall Street Zen downgraded shares of Neogen from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. Zacks Research raised Neogen from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 20th. CJS Securities initiated coverage on Neogen in a research report on Monday, September 29th. They set a “market perform” rating and a $10.00 price target on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Neogen in a report on Tuesday. Finally, Piper Sandler set a $6.50 price objective on Neogen and gave the company a “neutral” rating in a research report on Thursday, October 16th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $8.83.

Neogen Stock Down 1.0%

NEOG stock opened at $5.98 on Friday. The business has a 50 day moving average of $5.98 and a 200 day moving average of $5.63. The firm has a market cap of $1.30 billion, a PE ratio of -1.25 and a beta of 1.90. Neogen Corporation has a twelve month low of $3.87 and a twelve month high of $14.33. The company has a quick ratio of 2.26, a current ratio of 3.58 and a debt-to-equity ratio of 0.37.

About Neogen

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.