Samjo Management LLC Boosts Stock Position in Neogen Corporation $NEOG

Samjo Management LLC raised its stake in shares of Neogen Corporation (NASDAQ:NEOG) by 14.8% in the second quarter, Holdings Channel reports. The institutional investor owned 698,610 shares of the company’s stock after buying an additional 90,165 shares during the quarter. Neogen accounts for about 1.4% of Samjo Management LLC’s holdings, making the stock its 21st biggest position. Samjo Management LLC’s holdings in Neogen were worth $3,339,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Savant Capital LLC bought a new position in shares of Neogen during the second quarter valued at $50,000. Blue Trust Inc. grew its position in Neogen by 181.7% during the 2nd quarter. Blue Trust Inc. now owns 11,974 shares of the company’s stock valued at $57,000 after purchasing an additional 7,724 shares during the last quarter. AlphaQuest LLC increased its stake in Neogen by 20,281.9% during the 2nd quarter. AlphaQuest LLC now owns 14,675 shares of the company’s stock valued at $70,000 after purchasing an additional 14,603 shares in the last quarter. Pinnacle Wealth Planning Services Inc. purchased a new position in Neogen in the second quarter worth about $71,000. Finally, Greenleaf Trust bought a new position in shares of Neogen in the second quarter worth approximately $76,000. 96.73% of the stock is owned by institutional investors.

Neogen Trading Down 1.0%

NASDAQ:NEOG opened at $5.98 on Monday. The company has a market cap of $1.30 billion, a PE ratio of -1.25 and a beta of 1.90. The company has a current ratio of 3.58, a quick ratio of 2.26 and a debt-to-equity ratio of 0.37. The company has a 50 day simple moving average of $5.98 and a two-hundred day simple moving average of $5.61. Neogen Corporation has a 12 month low of $3.87 and a 12 month high of $14.33.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Neogen from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. CJS Securities initiated coverage on Neogen in a research note on Monday, September 29th. They set a “market perform” rating and a $10.00 target price on the stock. Zacks Research raised Neogen from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 20th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Neogen in a report on Tuesday, November 25th. Finally, Piper Sandler set a $6.50 price objective on Neogen and gave the company a “neutral” rating in a research report on Thursday, October 16th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $8.83.

Neogen Company 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.