McCollum Christoferson Group LLC Sells 238,571 Shares of Neogen Corporation $NEOG

McCollum Christoferson Group LLC reduced its stake in shares of Neogen Corporation (NASDAQ:NEOG) by 93.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 16,140 shares of the company’s stock after selling 238,571 shares during the period. McCollum Christoferson Group LLC’s holdings in Neogen were worth $77,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Gates Capital Management Inc. purchased a new stake in shares of Neogen during the first quarter worth about $79,391,000. Norges Bank bought a new stake in shares of Neogen in the second quarter worth approximately $43,387,000. Clarkston Capital Partners LLC increased its position in Neogen by 123.2% during the second quarter. Clarkston Capital Partners LLC now owns 14,005,725 shares of the company’s stock valued at $66,947,000 after acquiring an additional 7,729,650 shares during the last quarter. Millennium Management LLC bought a new position in Neogen in the first quarter worth approximately $20,761,000. Finally, Vanguard Group Inc. grew its stake in shares of Neogen by 8.8% during the 1st quarter. Vanguard Group Inc. now owns 23,550,128 shares of the company’s stock valued at $204,180,000 after acquiring an additional 1,912,877 shares during the period. Institutional investors own 96.73% of the company’s stock.

Neogen Stock Performance

NASDAQ:NEOG opened at $5.92 on Wednesday. The firm’s 50 day moving average is $5.99 and its two-hundred day moving average is $5.60. The company has a market cap of $1.29 billion, a P/E ratio of -1.23 and a beta of 1.90. Neogen Corporation has a fifty-two week low of $3.87 and a fifty-two week high of $13.76. The company has a quick ratio of 2.26, a current ratio of 3.58 and a debt-to-equity ratio of 0.37.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Wall Street Zen downgraded shares of Neogen from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Weiss Ratings reissued a “sell (e+)” rating on shares of Neogen in a research note on Monday. Zacks Research upgraded shares of Neogen from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 20th. CJS Securities assumed coverage on Neogen in a research report on Monday, September 29th. They issued a “market perform” rating and a $10.00 price objective for the company. Finally, Piper Sandler set a $6.50 price target on shares of Neogen and gave the stock a “neutral” rating in a report on Thursday, October 16th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Neogen has a consensus rating of “Hold” and a consensus price target 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.