Neogen Corporation $NEOG Shares Acquired by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL increased its stake in shares of Neogen Corporation (NASDAQ:NEOG) by 79.3% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 199,900 shares of the company’s stock after acquiring an additional 88,400 shares during the period. Gamco Investors INC. ET AL’s holdings in Neogen were worth $1,857,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in NEOG. Dimensional Fund Advisors LP raised its stake in Neogen by 23.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,132,021 shares of the company’s stock valued at $84,831,000 after acquiring an additional 1,733,767 shares during the last quarter. T. Rowe Price Investment Management Inc. increased 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 purchasing an additional 5,838,570 shares during the period. Mackenzie Financial Corp increased its holdings in shares of Neogen by 1.0% in the fourth quarter. Mackenzie Financial Corp now owns 7,898,439 shares of the company’s stock valued at $55,574,000 after purchasing an additional 79,010 shares during the period. Cibc World Markets Corp acquired a new position in shares of Neogen in the fourth quarter valued at approximately $47,983,000. Finally, Hudson Bay Capital Management LP raised its stake in shares of Neogen by 30.0% during the fourth quarter. Hudson Bay Capital Management LP now owns 6,500,000 shares of the company’s stock worth $45,435,000 after purchasing an additional 1,500,000 shares during the last quarter. Institutional investors and hedge funds own 96.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Wall Street Zen raised Neogen from a “hold” rating to a “buy” rating in a 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 analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Neogen currently has an average rating of “Hold” and a consensus price target of $10.67.

Neogen Stock Performance

Shares of NEOG stock opened at $9.19 on Wednesday. The company has a market cap of $2.00 billion, a price-to-earnings ratio of -3.28, a price-to-earnings-growth ratio of 4.18 and a beta of 1.80. The stock has a 50 day simple moving average of $9.31 and a 200-day simple moving average of $9.59. Neogen Corporation has a 12-month low of $4.56 and a 12-month high of $11.43. The company has a current ratio of 3.92, a quick ratio of 2.84 and a debt-to-equity ratio of 0.38.

About Neogen

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.