Neogen Corporation $NEOG Shares Bought by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. increased its position in Neogen Corporation (NASDAQ:NEOG) by 260.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 63,667 shares of the company’s stock after purchasing an additional 45,981 shares during the period. First Citizens Bank & Trust Co.’s holdings in Neogen were worth $304,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of NEOG. Wealth Enhancement Advisory Services LLC grew its stake in 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. Envestnet Portfolio Solutions Inc. grew its stake in Neogen by 38.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 18,956 shares of the company’s stock worth $164,000 after purchasing an additional 5,274 shares in the last quarter. KBC Group NV grew its stake in Neogen by 44.1% in the first quarter. KBC Group NV now owns 12,198 shares of the company’s stock worth $106,000 after purchasing an additional 3,734 shares in the last quarter. Peregrine Capital Management LLC grew its stake in Neogen by 3.4% in the first quarter. Peregrine Capital Management LLC now owns 603,528 shares of the company’s stock worth $5,233,000 after purchasing an additional 20,084 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in Neogen in the first quarter valued at approximately $261,000. 96.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NEOG shares. Wall Street Zen upgraded Neogen from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. Piper Sandler set a $6.50 target price on Neogen and gave the company a “neutral” rating in a research note on Thursday, October 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Neogen in a research note on Saturday. Zacks Research upgraded Neogen from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 20th. Finally, William Blair downgraded Neogen from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 29th. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $8.83.

Neogen Price Performance

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

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.