Clarkston Capital Partners LLC Has $20.48 Million Stock Position in Neogen Corporation $NEOG

Clarkston Capital Partners LLC lessened its stake in shares of Neogen Corporation (NASDAQ:NEOG) by 80.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,204,788 shares of the company’s stock after selling 9,123,882 shares during the quarter. Neogen makes up 1.6% of Clarkston Capital Partners LLC’s holdings, making the stock its 24th biggest holding. Clarkston Capital Partners LLC’s holdings in Neogen were worth $20,482,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NEOG. Cibc World Markets Corp bought a new position in shares of Neogen in the 4th quarter valued at $47,983,000. T. Rowe Price Investment Management Inc. grew its position in Neogen by 249.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,181,768 shares of the company’s stock worth $57,191,000 after acquiring an additional 5,838,570 shares during the last quarter. SG Americas Securities LLC grew its position in Neogen by 287.4% during the 1st quarter. SG Americas Securities LLC now owns 6,266,033 shares of the company’s stock worth $58,211,000 after acquiring an additional 4,648,436 shares during the last quarter. Bank of Montreal Can increased its holdings in Neogen by 4,059.4% in the 3rd quarter. Bank of Montreal Can now owns 4,592,218 shares of the company’s stock worth $26,222,000 after purchasing an additional 4,481,812 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Neogen by 250.2% in 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 purchasing an additional 2,493,900 shares in the last quarter. Institutional investors own 96.73% of the company’s stock.

Analysts Set New Price Targets

NEOG has been the topic of a number of recent research reports. Wall Street Zen raised Neogen from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Neogen in a research note on Wednesday, July 8th. 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’s stock. According to data from MarketBeat, Neogen currently has a consensus rating of “Hold” and a consensus price target of $10.67.

Neogen Stock Down 2.2%

Shares of NEOG opened at $9.61 on Friday. The stock’s 50-day moving average price is $9.25 and its two-hundred day moving average price is $9.55. Neogen Corporation has a 12 month low of $4.56 and a 12 month high of $11.43. The company has a market capitalization of $2.09 billion, a PE ratio of -3.43, a PEG ratio of 4.40 and a beta of 1.80. The company has a current ratio of 3.92, a quick ratio of 2.84 and a debt-to-equity ratio of 0.38.

Neogen 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.