First Citizens Bank & Trust Co. Has $304,000 Position in Neogen Corporation $NEOG

First Citizens Bank & Trust Co. raised its position in shares of Neogen Corporation (NASDAQ:NEOG) by 260.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,667 shares of the company’s stock after purchasing an additional 45,981 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Neogen were worth $304,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in NEOG. Wealth Enhancement Advisory Services LLC raised its stake in Neogen by 212.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 107,395 shares of the company’s stock valued at $931,000 after purchasing an additional 73,071 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in Neogen by 38.5% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,956 shares of the company’s stock valued at $164,000 after purchasing an additional 5,274 shares during the period. KBC Group NV raised its stake in Neogen by 44.1% during the 1st quarter. KBC Group NV now owns 12,198 shares of the company’s stock valued at $106,000 after purchasing an additional 3,734 shares during the period. Peregrine Capital Management LLC raised its stake in Neogen by 3.4% during the 1st quarter. Peregrine Capital Management LLC now owns 603,528 shares of the company’s stock valued at $5,233,000 after purchasing an additional 20,084 shares during the period. Finally, Teacher Retirement System of Texas acquired a new position in shares of Neogen in the first quarter worth $261,000. 96.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on NEOG shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Neogen in a research note on Saturday. 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 target price on shares of Neogen and gave the company a “neutral” rating in a research note on Thursday, October 16th. Zacks Research upgraded shares of Neogen from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 20th. Finally, Guggenheim dropped their price target on shares of Neogen from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, June 30th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Neogen currently has a consensus rating of “Hold” and a consensus target price of $8.83.

Neogen Price Performance

NEOG opened at $6.19 on Monday. The company has a fifty day moving average price of $5.74 and a two-hundred day moving average price of $5.48. 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 has a market capitalization of $1.35 billion, a PE 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.