IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 8,299 Shares of Neogen Corporation $NEOG

IQ EQ FUND MANAGEMENT IRELAND Ltd lessened its stake in shares of Neogen Corporation (NASDAQ:NEOG) by 4.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 189,914 shares of the company’s stock after selling 8,299 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd owned about 0.09% of Neogen worth $908,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd boosted its stake in shares of Neogen by 388.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 10,071 shares of the company’s stock worth $87,000 after acquiring an additional 8,010 shares in the last quarter. Lindenwold Advisors INC bought a new stake in shares of Neogen during the 1st quarter worth about $92,000. Angeles Wealth Management LLC bought a new stake in shares of Neogen during the 1st quarter worth about $99,000. Blue Trust Inc. boosted its stake in shares of Neogen by 181.7% during the 2nd quarter. Blue Trust Inc. now owns 11,974 shares of the company’s stock worth $57,000 after acquiring an additional 7,724 shares in the last quarter. Finally, KBC Group NV boosted its stake in shares of Neogen by 44.1% during the 1st quarter. KBC Group NV now owns 12,198 shares of the company’s stock worth $106,000 after acquiring an additional 3,734 shares in the last quarter. Institutional investors own 96.73% of the company’s stock.

Neogen Price Performance

Shares of NEOG stock opened at $6.16 on Wednesday. The stock has a 50 day moving average of $5.77 and a two-hundred day moving average of $5.49. The company has a current ratio of 3.58, a quick ratio of 2.26 and a debt-to-equity ratio of 0.37. Neogen Corporation has a 12 month low of $3.87 and a 12 month high of $16.79. The company has a market capitalization of $1.34 billion, a P/E ratio of -1.28 and a beta of 1.90.

Analysts Set New Price Targets

NEOG has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Neogen in a report on Wednesday, October 8th. William Blair lowered 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 Neogen and gave the company a “neutral” rating in a report on Thursday, October 16th. Zacks Research raised Neogen from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 20th. Finally, CJS Securities initiated coverage on Neogen in a report on Monday, September 29th. They issued a “market perform” rating and a $10.00 target price on the stock. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.83.

About Neogen

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.