Nisa Investment Advisors LLC Has $612,000 Stock Position in Neogen Corporation $NEOG

Nisa Investment Advisors LLC increased its position in shares of Neogen Corporation (NASDAQ:NEOG) by 423.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 128,036 shares of the company’s stock after purchasing an additional 103,598 shares during the quarter. Nisa Investment Advisors LLC owned approximately 0.06% of Neogen worth $612,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. increased its holdings in Neogen by 29.4% during the 1st quarter. Russell Investments Group Ltd. now owns 451,898 shares of the company’s stock valued at $3,916,000 after purchasing an additional 102,640 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Neogen by 90.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,123,391 shares of the company’s stock valued at $9,740,000 after buying an additional 533,064 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Neogen by 8.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,235,459 shares of the company’s stock valued at $19,381,000 after buying an additional 173,532 shares during the period. Malaga Cove Capital LLC grew its position in shares of Neogen by 53.2% during the 1st quarter. Malaga Cove Capital LLC now owns 157,695 shares of the company’s stock worth $1,367,000 after buying an additional 54,761 shares during the period. Finally, Inspire Investing LLC grew its position in shares of Neogen by 100.2% during the 2nd quarter. Inspire Investing LLC now owns 93,416 shares of the company’s stock worth $447,000 after buying an additional 46,753 shares during the period. 96.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on NEOG shares. Zacks Research upgraded shares of Neogen from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 20th. Wall Street Zen raised Neogen from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Neogen in a research note on Wednesday, October 8th. William Blair cut Neogen from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 29th. Finally, Piper Sandler set a $6.50 target price on Neogen and gave the stock a “neutral” rating in a report on Thursday, October 16th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $8.83.

Neogen Stock Up 2.8%

NEOG stock opened at $6.17 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.58 and a quick ratio of 2.26. The stock has a market capitalization of $1.34 billion, a P/E ratio of -1.29 and a beta of 1.90. The business has a 50-day moving average of $5.80 and a 200-day moving average of $5.51. Neogen Corporation has a fifty-two week low of $3.87 and a fifty-two week high of $16.79.

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.