Neogen (NASDAQ:NEOG) Stock Rating Upgraded by William Blair

William Blair upgraded shares of Neogen (NASDAQ:NEOGGet Rating) from a market perform rating to an outperform rating in a report issued on Tuesday morning, Marketbeat Ratings reports.

Several other research analysts have also commented on the company. StockNews.com started coverage on Neogen in a research report on Wednesday, October 12th. They issued a hold rating for the company. Piper Sandler reduced their target price on shares of Neogen from $20.00 to $14.00 and set a neutral rating for the company in a report on Monday, October 10th.

Neogen Stock Up 2.8 %

Shares of NEOG stock opened at $15.88 on Tuesday. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 46.71 and a beta of 0.72. Neogen has a 52-week low of $10.49 and a 52-week high of $47.80. The company’s 50 day moving average is $13.85 and its 200 day moving average is $19.79.

Insider Buying and Selling at Neogen

In other Neogen news, COO Douglas Edward Jones purchased 7,000 shares of Neogen stock in a transaction dated Wednesday, September 28th. The shares were acquired at an average cost of $14.31 per share, with a total value of $100,170.00. Following the completion of the transaction, the chief operating officer now owns 9,759 shares in the company, valued at approximately $139,651.29. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Neogen news, COO Douglas Edward Jones purchased 7,000 shares of the company’s stock in a transaction dated Wednesday, September 28th. The shares were acquired at an average price of $14.31 per share, for a total transaction of $100,170.00. Following the completion of the purchase, the chief operating officer now owns 9,759 shares of the company’s stock, valued at $139,651.29. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John Edward Adent acquired 22,000 shares of the business’s stock in a transaction dated Wednesday, September 28th. The shares were bought at an average price of $14.37 per share, for a total transaction of $316,140.00. Following the acquisition, the chief executive officer now owns 80,103 shares of the company’s stock, valued at $1,151,080.11. The disclosure for this purchase can be found here. Insiders bought a total of 36,000 shares of company stock worth $502,220 over the last three months. Corporate insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Neogen

Several institutional investors and hedge funds have recently made changes to their positions in NEOG. GW&K Investment Management LLC purchased a new position in Neogen in the 1st quarter worth $27,000. Patriot Financial Group Insurance Agency LLC raised its stake in shares of Neogen by 87.5% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 913 shares of the company’s stock worth $28,000 after purchasing an additional 426 shares during the last quarter. JJJ Advisors Inc. lifted its holdings in shares of Neogen by 71.6% during the first quarter. JJJ Advisors Inc. now owns 2,052 shares of the company’s stock worth $64,000 after purchasing an additional 856 shares during the period. Heritage Wealth Management LLC purchased a new stake in Neogen in the second quarter valued at approximately $56,000. Finally, Point72 Hong Kong Ltd acquired a new position in Neogen in the 1st quarter worth approximately $71,000. 97.86% of the stock is currently owned by institutional investors and hedge funds.

About Neogen

(Get Rating)

Neogen Corporation, together with its subsidiaries, develops, manufactures, and markets various products for 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.

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