Counterpoint Mutual Funds LLC Takes Position in Neogen Corporation $NEOG

Counterpoint Mutual Funds LLC acquired a new position in Neogen Corporation (NASDAQ:NEOG) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 82,957 shares of the company’s stock, valued at approximately $397,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Bank Pictet & Cie Europe AG lifted its position in Neogen by 6.5% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 132,000 shares of the company’s stock valued at $1,602,000 after purchasing an additional 8,000 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of Neogen in the fourth quarter worth about $840,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Neogen by 8.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 549,639 shares of the company’s stock valued at $6,673,000 after purchasing an additional 43,621 shares during the last quarter. Ascent Group LLC grew its holdings in Neogen by 17.8% in the 4th quarter. Ascent Group LLC now owns 14,340 shares of the company’s stock worth $174,000 after acquiring an additional 2,165 shares during the last quarter. Finally, Versant Capital Management Inc increased its holdings in Neogen by 1,495.4% during the 1st quarter. Versant Capital Management Inc now owns 3,127 shares of the company’s stock valued at $27,000 after purchasing an additional 2,931 shares during the period. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NEOG has been the subject of a number of recent analyst reports. Guggenheim decreased their target price on Neogen from $13.00 to $10.00 and set a “buy” rating for the company in a report on Monday, June 30th. William Blair cut shares of Neogen from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 29th. Finally, Zacks Research raised shares of Neogen from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 20th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Neogen presently has an average rating of “Hold” and a consensus target price of $7.50.

Neogen Stock Performance

Shares of NEOG stock opened at $5.60 on Wednesday. The company has a quick ratio of 2.22, a current ratio of 3.32 and a debt-to-equity ratio of 0.42. The company has a 50 day moving average price of $5.34 and a 200-day moving average price of $5.93. Neogen Corporation has a 52 week low of $3.87 and a 52 week high of $17.45. The firm has a market capitalization of $1.22 billion, a PE ratio of -1.11 and a beta of 1.85.

Neogen Profile

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.