Avanza Fonder AB Buys 2,499 Shares of Neogen Corporation $NEOG

Avanza Fonder AB raised its stake in Neogen Corporation (NASDAQ:NEOG) by 17.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 16,435 shares of the company’s stock after acquiring an additional 2,499 shares during the quarter. Avanza Fonder AB’s holdings in Neogen were worth $79,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Versant Capital Management Inc increased its position in shares of Neogen by 1,495.4% during the first quarter. Versant Capital Management Inc now owns 3,127 shares of the company’s stock worth $27,000 after acquiring an additional 2,931 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of Neogen by 388.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 10,071 shares of the company’s stock worth $87,000 after acquiring an additional 8,010 shares in the last quarter. Lindenwold Advisors INC bought a new stake in shares of Neogen during the first quarter worth about $92,000. Angeles Wealth Management LLC bought a new stake in shares of Neogen during the first quarter worth about $99,000. Finally, KBC Group NV increased its position in shares of Neogen by 44.1% during the first quarter. KBC Group NV now owns 12,198 shares of the company’s stock worth $106,000 after acquiring an additional 3,734 shares in the last quarter. 96.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Guggenheim decreased their target price on shares of Neogen from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, June 30th. Zacks Research raised shares of Neogen from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 20th. Finally, William Blair cut shares of Neogen from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 29th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $7.50.

Neogen Stock Performance

Shares of NEOG stock opened at $5.74 on Tuesday. The stock has a market capitalization of $1.25 billion, a P/E ratio of -1.14 and a beta of 1.84. The company has a current ratio of 3.32, a quick ratio of 2.22 and a debt-to-equity ratio of 0.42. The firm’s 50 day moving average is $5.33 and its 200 day moving average is $5.93. Neogen Corporation has a 12 month low of $3.87 and a 12 month high of $17.61.

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.