Curi RMB Capital LLC Acquires 67,690 Shares of Neogen Corporation $NEOG

Key Points

• Curi RMB Capital LLC increased its ownership in Neogen Corporation by 15.9% during the first quarter, now holding 492,753 shares valued at approximately $4.27 million.
• Neogen has a current consensus rating of "Hold" with a target price of $7.50, following recent adjustments from analysts.
• The company's shares saw a trading price of $5.74, with a 12-month range between $3.87 and $17.95.

Curi RMB Capital LLC lifted its holdings in Neogen Corporation (NASDAQ:NEOG - Free Report) by 15.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 492,753 shares of the company's stock after acquiring an additional 67,690 shares during the period. Curi RMB Capital LLC owned approximately 0.23% of Neogen worth $4,272,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. CHICAGO TRUST Co NA grew its stake in Neogen by 19.1% during the first quarter. CHICAGO TRUST Co NA now owns 12,498 shares of the company's stock worth $108,000 after buying an additional 2,000 shares in the last quarter. Ascent Group LLC grew its stake in Neogen by 17.8% during the fourth quarter. Ascent Group LLC now owns 14,340 shares of the company's stock worth $174,000 after buying an additional 2,165 shares in the last quarter. Yousif Capital Management LLC grew its stake in Neogen by 3.9% during the first quarter. Yousif Capital Management LLC now owns 74,508 shares of the company's stock worth $646,000 after buying an additional 2,769 shares in the last quarter. State of Wyoming grew its stake in Neogen by 6.3% during the fourth quarter. State of Wyoming now owns 47,775 shares of the company's stock worth $580,000 after buying an additional 2,846 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in 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 buying an additional 2,931 shares in the last quarter. 96.73% of the stock is owned by institutional investors.

Neogen Stock Performance

NASDAQ NEOG traded down $0.13 during trading on Wednesday, hitting $5.61. 954,463 shares of the company's stock traded hands, compared to its average volume of 5,275,110. The business has a 50 day moving average of $5.28 and a 200-day moving average of $6.24. Neogen Corporation has a 12-month low of $3.87 and a 12-month high of $17.95. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -1.11 and a beta of 1.84. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.22 and a current ratio of 3.32.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NEOG shares. Guggenheim reduced their price target on shares of Neogen from $13.00 to $10.00 and set a "buy" rating on the stock in a research note on Monday, June 30th. Zacks Research upgraded shares of Neogen from a "strong sell" rating to a "hold" rating in a research note 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 equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Neogen currently has an average rating of "Hold" and an average price target of $7.50.

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.