Intech Investment Management LLC Boosts Holdings in Neogen Corporation $NEOG

Key Points

• Intech Investment Management LLC increased its holdings in Neogen Corporation by 23.6% during the first quarter, now owning 249,197 shares valued at approximately $2.16 million.
• Multiple institutional investors, including CHICAGO TRUST Co NA and Versant Capital Management, have also increased their positions in Neogen, showing strong institutional interest as they collectively own 96.73% of the company's stock.
• Analyst ratings for Neogen are mixed, with Guggenheim lowering its price target from $13.00 to $10.00 while Zacks upgraded it from a "strong sell" to a "hold", resulting in an average rating of "Hold".

Intech Investment Management LLC increased its holdings in Neogen Corporation (NASDAQ:NEOG - Free Report) by 23.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 249,197 shares of the company's stock after buying an additional 47,586 shares during the quarter. Intech Investment Management LLC owned 0.11% of Neogen worth $2,161,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. CHICAGO TRUST Co NA lifted its holdings in Neogen by 19.1% during the first quarter. CHICAGO TRUST Co NA now owns 12,498 shares of the company's stock valued at $108,000 after purchasing an additional 2,000 shares in the last quarter. Ascent Group LLC lifted its holdings in Neogen by 17.8% during the fourth quarter. Ascent Group LLC now owns 14,340 shares of the company's stock valued at $174,000 after purchasing an additional 2,165 shares in the last quarter. Yousif Capital Management LLC lifted its holdings in Neogen by 3.9% during the first quarter. Yousif Capital Management LLC now owns 74,508 shares of the company's stock valued at $646,000 after purchasing an additional 2,769 shares in the last quarter. State of Wyoming lifted its holdings in Neogen by 6.3% during the fourth quarter. State of Wyoming now owns 47,775 shares of the company's stock valued at $580,000 after purchasing an additional 2,846 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in Neogen by 1,495.4% during the first 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 in the last quarter. Hedge funds and other institutional investors own 96.73% of the company's stock.

Wall Street Analyst Weigh In

NEOG has been the topic of several analyst reports. Guggenheim lowered their price target on shares of Neogen from $13.00 to $10.00 and set a "buy" rating on the stock in a report on Monday, June 30th. Zacks Research raised shares of Neogen from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 20th. Finally, William Blair downgraded 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. According to MarketBeat, Neogen has an average rating of "Hold" and an average price target of $7.50.

Neogen Trading Down 0.5%

NEOG stock opened at $5.47 on Tuesday. The company has a quick ratio of 2.22, a current ratio of 3.32 and a debt-to-equity ratio of 0.42. Neogen Corporation has a twelve month low of $3.87 and a twelve month high of $17.95. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -1.09 and a beta of 1.84. The firm's fifty day simple moving average is $5.31 and its two-hundred day simple moving average is $6.08.

About Neogen

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.

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