250,026 Shares in Neogen Corporation $NEOG Acquired by Granahan Investment Management LLC

Granahan Investment Management LLC purchased a new stake in shares of Neogen Corporation (NASDAQ:NEOG) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 250,026 shares of the company’s stock, valued at approximately $2,323,000.

Several other institutional investors have also recently bought and sold shares of the business. Cibc World Markets Corp bought a new stake in shares of Neogen during the fourth quarter worth $47,983,000. T. Rowe Price Investment Management Inc. raised its holdings in shares of Neogen by 249.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,181,768 shares of the company’s stock valued at $57,191,000 after buying an additional 5,838,570 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Neogen by 287.4% in the first quarter. SG Americas Securities LLC now owns 6,266,033 shares of the company’s stock valued at $58,211,000 after buying an additional 4,648,436 shares during the last quarter. Bank of Montreal Can lifted its position in Neogen by 4,059.4% during the 3rd quarter. Bank of Montreal Can now owns 4,592,218 shares of the company’s stock worth $26,222,000 after buying an additional 4,481,812 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in Neogen by 250.2% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,490,800 shares of the company’s stock worth $24,401,000 after buying an additional 2,493,900 shares in the last quarter. Institutional investors own 96.73% of the company’s stock.

Neogen Trading Down 2.2%

Shares of NEOG opened at $9.40 on Friday. The company has a quick ratio of 2.84, a current ratio of 3.92 and a debt-to-equity ratio of 0.38. Neogen Corporation has a 12-month low of $4.56 and a 12-month high of $11.43. The firm has a market capitalization of $2.05 billion, a PE ratio of -3.36, a price-to-earnings-growth ratio of 4.21 and a beta of 1.80. The stock’s fifty day simple moving average is $9.28 and its 200-day simple moving average is $9.55.

Analyst Upgrades and Downgrades

NEOG has been the subject of several research reports. Wall Street Zen upgraded shares of Neogen from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings cut shares of Neogen from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Neogen currently has an average rating of “Hold” and an average target price of $10.67.

Neogen Company Profile

Neogen Corporation is a global provider of food and animal safety products, offering a broad portfolio of diagnostic and testing solutions. Headquartered in Lansing, Michigan, the company develops and manufactures tests designed to detect foodborne pathogens, allergens and toxins in food, beverage and environmental samples. Since its founding in 1982, Neogen has focused on delivering rapid, accurate and user?friendly assays to food processors, grain handlers and quality laboratories around the world.

In the food safety arena, Neogen’s product lineup includes immunoassay kits, molecular diagnostics and enrichment media for pathogens such as Salmonella, Listeria and E.