Neogen Corporation (NASDAQ:NEOG) Shares Purchased by Caitong International Asset Management Co. Ltd

Caitong International Asset Management Co. Ltd increased its position in shares of Neogen Corporation (NASDAQ:NEOG) by 388.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,071 shares of the company’s stock after acquiring an additional 8,010 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in Neogen were worth $87,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Russell Investments Group Ltd. boosted its position in shares of Neogen by 29.4% during the 1st quarter. Russell Investments Group Ltd. now owns 451,898 shares of the company’s stock valued at $3,916,000 after acquiring an additional 102,640 shares during the last quarter. Public Sector Pension Investment Board acquired a new position in shares of Neogen during the 1st quarter valued at about $5,428,000. Nuveen LLC acquired a new position in shares of Neogen during the 1st quarter valued at about $5,138,000. Invesco Ltd. lifted its position in Neogen by 35.9% in the first quarter. Invesco Ltd. now owns 870,824 shares of the company’s stock valued at $7,550,000 after buying an additional 230,201 shares during the last quarter. Finally, Zions Bancorporation National Association UT acquired a new position in Neogen in the first quarter valued at about $1,104,000. Institutional investors and hedge funds own 96.73% of the company’s stock.

Neogen Stock Down 1.3%

Shares of NASDAQ:NEOG opened at $5.43 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.32 and a quick ratio of 2.22. The firm has a market capitalization of $1.18 billion, a PE ratio of -1.08 and a beta of 1.79. The firm’s 50-day moving average is $5.12 and its two-hundred day moving average is $6.83. Neogen Corporation has a 1 year low of $3.87 and a 1 year high of $17.95.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Piper Sandler decreased their target price on shares of Neogen from $6.40 to $5.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 22nd. Guggenheim decreased their target price on shares of Neogen from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, June 30th. Finally, William Blair cut shares of Neogen from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 29th.

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.