Neogen Corporation $NEOG Holdings Trimmed by Fred Alger Management LLC

by · The Markets Daily

Fred Alger Management LLC lowered its position in shares of Neogen Corporation (NASDAQ:NEOG – Free Report) by 4.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,012,350 shares of the company’s stock after selling 207,484 shares during the quarter. Fred Alger Management LLC owned 1.85% of Neogen worth $34,787,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Goldman Sachs Group Inc. boosted its stake in Neogen by 14.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,678,493 shares of the company’s stock valued at $14,553,000 after buying an additional 209,990 shares in the last quarter. Jones Financial Companies Lllp increased its stake in Neogen by 5,687.3% in the 1st quarter. Jones Financial Companies Lllp now owns 33,393 shares of the company’s stock worth $290,000 after purchasing an additional 32,816 shares in the last quarter. Punch & Associates Investment Management Inc. increased its stake in Neogen by 4.6% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 1,224,898 shares of the company’s stock worth $10,620,000 after purchasing an additional 53,758 shares in the last quarter. Petrus Trust Company LTA purchased a new position in Neogen in the 1st quarter worth about $304,000. Finally, Millennium Management LLC purchased a new position in Neogen in the 1st quarter worth about $20,761,000. Institutional investors own 96.73% of the company’s stock.

Wall Street Analysts Forecast Growth

NEOG has been the topic of a number of analyst reports. William Blair cut Neogen from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 29th. Guggenheim dropped their price target on Neogen from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, June 30th. Finally, Zacks Research raised Neogen from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $7.50.

View Our Latest Stock Report on Neogen

Neogen Trading Up 0.2%

Shares of NASDAQ NEOG opened at $5.75 on Monday. Neogen Corporation has a one year low of $3.87 and a one year high of $17.95. The firm has a market capitalization of $1.25 billion, a PE ratio of -1.14 and a beta of 1.84. The company has a current ratio of 3.32, a quick ratio of 2.22 and a debt-to-equity ratio of 0.42. The business has a 50-day moving average price of $5.25 and a two-hundred day moving average price of $6.27.

Neogen Profile

(Free Report)

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.

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