Caxton Associates LLP Purchases 92,870 Shares of Neogen Corporation $NEOG

Caxton Associates LLP boosted its position in shares of Neogen Corporation (NASDAQ:NEOG) by 115.8% during the first quarter, HoldingsChannel reports. The institutional investor owned 173,061 shares of the company’s stock after purchasing an additional 92,870 shares during the period. Caxton Associates LLP’s holdings in Neogen were worth $1,608,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Huntington National Bank raised its position in shares of Neogen by 8.4% in the 4th quarter. Huntington National Bank now owns 13,552 shares of the company’s stock valued at $95,000 after buying an additional 1,045 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Neogen by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 42,509 shares of the company’s stock worth $297,000 after acquiring an additional 1,331 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Neogen by 1.2% during the 4th quarter. State of Alaska Department of Revenue now owns 110,645 shares of the company’s stock worth $773,000 after acquiring an additional 1,353 shares in the last quarter. Evergreen Capital Management LLC boosted its position in shares of Neogen by 12.3% during the 4th quarter. Evergreen Capital Management LLC now owns 13,753 shares of the company’s stock worth $96,000 after acquiring an additional 1,504 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its stake in Neogen by 10.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 17,837 shares of the company’s stock valued at $125,000 after acquiring an additional 1,638 shares during the last quarter. 96.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on NEOG. Weiss Ratings downgraded shares of Neogen from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday. Wall Street Zen raised Neogen from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $10.67.

Neogen Stock Performance

Neogen stock opened at $9.40 on Friday. The company has a quick ratio of 2.84, a current ratio of 3.92 and a debt-to-equity ratio of 0.38. The stock has a market cap of $2.05 billion, a PE ratio of -3.36, a P/E/G ratio of 4.21 and a beta of 1.80. Neogen Corporation has a 12-month low of $4.56 and a 12-month high of $11.43. The business’s 50-day moving average price is $9.28 and its two-hundred day moving average price is $9.55.

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.