Raymond James Financial Inc. Has $4.12 Million Holdings in Neogen Corporation $NEOG

Raymond James Financial Inc. lifted its stake in Neogen Corporation (NASDAQ:NEOG) by 110.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 474,684 shares of the company’s stock after buying an additional 248,654 shares during the period. Raymond James Financial Inc.’s holdings in Neogen were worth $4,115,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. American Century Companies Inc. raised its holdings in shares of Neogen by 16.5% in the 1st quarter. American Century Companies Inc. now owns 3,034,872 shares of the company’s stock worth $26,312,000 after buying an additional 428,829 shares in the last quarter. Neuberger Berman Group LLC increased its holdings in Neogen by 1,812.1% during the 1st quarter. Neuberger Berman Group LLC now owns 328,876 shares of the company’s stock valued at $2,851,000 after purchasing an additional 311,676 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in Neogen by 388.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 10,071 shares of the company’s stock valued at $87,000 after purchasing an additional 8,010 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in 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 purchasing an additional 102,640 shares in the last quarter. Finally, Public Sector Pension Investment Board acquired a new stake in Neogen during the 1st quarter valued at $5,428,000. 96.73% of the stock is owned by institutional investors and hedge funds.

Neogen Stock Up 0.2%

NASDAQ:NEOG opened at $5.75 on Friday. Neogen Corporation has a 12-month low of $3.87 and a 12-month high of $17.95. The company has a quick ratio of 2.22, a current ratio of 3.32 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $1.25 billion, a P/E ratio of -1.14 and a beta of 1.85. The stock’s fifty day simple moving average is $5.25 and its 200-day simple moving average is $6.32.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. William Blair cut Neogen from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 29th. Zacks Research raised Neogen from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 20th. Finally, Guggenheim dropped their price target on Neogen from $13.00 to $10.00 and set a “buy” rating for the company in a report on Monday, June 30th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Neogen currently has a consensus rating of “Hold” and a consensus target price of $7.50.

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.