Public Employees Retirement Association of Colorado Sells 3,507 Shares of Neogen Co. (NASDAQ:NEOG)

Public Employees Retirement Association of Colorado reduced its stake in Neogen Co. (NASDAQ:NEOG) by 0.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 659,605 shares of the company’s stock after selling 3,507 shares during the quarter. Public Employees Retirement Association of Colorado owned approximately 0.30% of Neogen worth $10,409,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. increased its stake in shares of Neogen by 5.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 12,900 shares of the company’s stock worth $259,000 after purchasing an additional 711 shares in the last quarter. Sheets Smith Wealth Management increased its stake in Neogen by 2.6% in the 4th quarter. Sheets Smith Wealth Management now owns 30,795 shares of the company’s stock worth $619,000 after buying an additional 771 shares in the last quarter. Northwest Investment Counselors LLC raised its holdings in Neogen by 1.1% during the first quarter. Northwest Investment Counselors LLC now owns 71,621 shares of the company’s stock valued at $1,130,000 after acquiring an additional 809 shares during the period. Retirement Systems of Alabama lifted its position in shares of Neogen by 0.3% in the fourth quarter. Retirement Systems of Alabama now owns 246,534 shares of the company’s stock valued at $4,958,000 after acquiring an additional 827 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of Neogen by 1.2% in the first quarter. Bessemer Group Inc. now owns 73,920 shares of the company’s stock worth $1,166,000 after acquiring an additional 851 shares during the period. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. StockNews.com raised Neogen to a “sell” rating in a research note on Wednesday, July 10th. Piper Sandler reduced their price objective on shares of Neogen from $19.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, April 15th.

Neogen Trading Down 0.2 %

Shares of Neogen stock opened at $17.30 on Tuesday. Neogen Co. has a twelve month low of $11.46 and a twelve month high of $24.09. The company has a quick ratio of 2.66, a current ratio of 3.82 and a debt-to-equity ratio of 0.28. The business has a 50-day moving average price of $15.71 and a 200-day moving average price of $15.25. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of 1,730.00 and a beta of 1.20.

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.