Carnegie Investment Counsel Has $148,000 Stock Position in Neogen Corporation $NEOG

Carnegie Investment Counsel lowered its stake in Neogen Corporation (NASDAQ:NEOG) by 17.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,042 shares of the company’s stock after selling 6,778 shares during the period. Carnegie Investment Counsel’s holdings in Neogen were worth $148,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Blue Trust Inc. lifted its holdings in Neogen by 181.7% in the second quarter. Blue Trust Inc. now owns 11,974 shares of the company’s stock valued at $57,000 after buying an additional 7,724 shares during the period. Greenleaf Trust bought a new stake in Neogen in the second quarter valued at $76,000. Avanza Fonder AB increased its stake in Neogen by 17.9% in the second quarter. Avanza Fonder AB now owns 16,435 shares of the company’s stock valued at $79,000 after purchasing an additional 2,499 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of Neogen by 388.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 10,071 shares of the company’s stock worth $87,000 after acquiring an additional 8,010 shares in the last quarter. Finally, CWM LLC increased its position in shares of Neogen by 165.7% during the second quarter. CWM LLC now owns 18,575 shares of the company’s stock worth $89,000 after acquiring an additional 11,584 shares in the last quarter. Institutional investors and hedge funds own 96.73% of the company’s stock.

Wall Street Analyst Weigh In

NEOG has been the topic of several analyst reports. William Blair cut shares of Neogen from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 29th. Piper Sandler set a $6.50 price objective on Neogen and gave the company a “neutral” rating in a research note on Thursday, October 16th. Wall Street Zen raised shares of Neogen from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Guggenheim cut their price objective on shares of Neogen from $13.00 to $10.00 and set a “buy” rating for the company in a report on Monday, June 30th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Neogen in a research note on Wednesday, October 8th. 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. According to MarketBeat.com, Neogen currently has an average rating of “Hold” and an average target price of $8.83.

Neogen Price Performance

NEOG stock opened at $6.21 on Tuesday. 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 Corporation has a 52 week low of $3.87 and a 52 week high of $16.79. The firm’s fifty day moving average is $5.76 and its 200 day moving average is $5.49. The firm has a market cap of $1.35 billion, a P/E ratio of -1.29 and a beta of 1.90.

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.