Neogen Co. (NASDAQ:NEOG – Get Rating) reached a new 52-week low on Tuesday . The company traded as low as $25.70 and last traded at $25.98, with a volume of 16649 shares changing hands. The stock had previously closed at $26.67.
Separately, StockNews.com initiated coverage on Neogen in a report on Thursday, March 31st. They set a “hold” rating on the stock.
The company has a market capitalization of $2.87 billion, a PE ratio of 58.13 and a beta of 0.60. The business has a 50 day simple moving average of $31.35.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Conestoga Capital Advisors LLC increased its holdings in shares of Neogen by 2.2% during the first quarter. Conestoga Capital Advisors LLC now owns 3,875,795 shares of the company’s stock worth $119,530,000 after purchasing an additional 83,779 shares during the period. State Street Corp increased its stake in Neogen by 0.3% in the fourth quarter. State Street Corp now owns 3,495,147 shares of the company’s stock valued at $158,715,000 after acquiring an additional 12,146 shares during the last quarter. Riverbridge Partners LLC increased its stake in Neogen by 2.8% in the first quarter. Riverbridge Partners LLC now owns 2,933,104 shares of the company’s stock valued at $90,457,000 after acquiring an additional 79,715 shares during the last quarter. Geode Capital Management LLC increased its stake in Neogen by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 2,013,135 shares of the company’s stock valued at $91,450,000 after acquiring an additional 41,855 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Neogen by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,728,621 shares of the company’s stock valued at $78,498,000 after acquiring an additional 52,893 shares during the last quarter. 92.91% of the stock is currently owned by institutional investors.
About Neogen (NASDAQ:NEOG)
Neogen Corporation, together with its subsidiaries, develops, manufactures, and markets various products for 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 for adenosine triphosphate, a chemical found in living cells.
- Get a free copy of the StockNews.com research report on Neogen (NEOG)
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