Roubaix Capital LLC Buys New Position in Neogen Corporation $NEOG

Roubaix Capital LLC purchased a new stake in Neogen Corporation (NASDAQ:NEOG) in the first quarter, HoldingsChannel.com reports. The firm purchased 498,424 shares of the company’s stock, valued at approximately $4,630,000. Neogen makes up about 2.2% of Roubaix Capital LLC’s portfolio, making the stock its 24th biggest holding.

A number of other large investors have also modified their holdings of the business. Cibc World Markets Corp acquired a new position in shares of Neogen during the fourth quarter valued at about $47,983,000. T. Rowe Price Investment Management Inc. boosted its stake in Neogen by 249.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,181,768 shares of the company’s stock worth $57,191,000 after purchasing an additional 5,838,570 shares in the last quarter. SG Americas Securities LLC boosted its stake in Neogen by 287.4% in the 1st quarter. SG Americas Securities LLC now owns 6,266,033 shares of the company’s stock worth $58,211,000 after purchasing an additional 4,648,436 shares in the last quarter. Bank of Montreal Can boosted its stake in Neogen by 4,059.4% in the 3rd quarter. Bank of Montreal Can now owns 4,592,218 shares of the company’s stock worth $26,222,000 after purchasing an additional 4,481,812 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in Neogen by 250.2% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,490,800 shares of the company’s stock worth $24,401,000 after purchasing an additional 2,493,900 shares during the last quarter. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on NEOG shares. Weiss Ratings restated a “sell (d-)” rating on shares of Neogen in a research note on Wednesday, July 8th. Wall Street Zen upgraded shares of Neogen from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.67.

Neogen Price Performance

Shares of NEOG opened at $10.27 on Friday. The business’s 50-day moving average is $9.15 and its two-hundred day moving average is $9.46. The company has a market capitalization of $2.24 billion, a P/E ratio of -3.67, a P/E/G ratio of 4.60 and a beta of 1.80. Neogen Corporation has a fifty-two week low of $4.56 and a fifty-two week high of $11.43. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.84 and a current ratio of 3.92.

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.