Punch & Associates Investment Management Inc. Purchases 53,758 Shares of Neogen Corporation $NEOG

Key Points

• Punch & Associates Investment Management Inc. boosted its stake in Neogen Corporation by 4.6%, acquiring an additional 53,758 shares and holding a total of 1,224,898 shares valued at approximately $10.6 million.
• Other investors, including Versant Capital Management and Caitong International Asset Management, also significantly increased their stakes in Neogen during the first quarter, leading to institutional ownership reaching 96.73%.
• Neogen's stock has a consensus rating of "Hold" from analysts, with a target price set at $7.50, following several recent upgrades and downgrades in ratings.

Punch & Associates Investment Management Inc. raised its position in Neogen Corporation (NASDAQ:NEOG - Free Report) by 4.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,224,898 shares of the company's stock after purchasing an additional 53,758 shares during the period. Punch & Associates Investment Management Inc. owned approximately 0.56% of Neogen worth $10,620,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Versant Capital Management Inc increased its stake in Neogen by 1,495.4% in 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. Caitong International Asset Management Co. Ltd increased its stake in Neogen by 388.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 10,071 shares of the company's stock valued at $87,000 after purchasing an additional 8,010 shares in the last quarter. Lindenwold Advisors INC bought a new stake in Neogen in the first quarter valued at approximately $92,000. Angeles Wealth Management LLC acquired a new stake in shares of Neogen during the first quarter worth $99,000. Finally, KBC Group NV raised its holdings 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 during the period. Institutional investors own 96.73% of the company's stock.

Analyst Upgrades and Downgrades

NEOG has been the topic of a number of research analyst reports. Zacks Research upgraded shares of Neogen from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 20th. William Blair lowered shares of Neogen from an "outperform" rating to a "market perform" rating in a report on Tuesday, July 29th. Finally, Guggenheim dropped their price objective 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. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Neogen presently has a consensus rating of "Hold" and a consensus target price of $7.50.

Neogen Stock Up 0.2%

Neogen stock opened at $5.75 on Friday. The company has a market cap of $1.25 billion, a P/E ratio of -1.14 and a beta of 1.85. Neogen Corporation has a 1-year low of $3.87 and a 1-year high of $17.95. The company has a fifty day simple moving average of $5.25 and a 200 day simple moving average of $6.32. The company has a current ratio of 3.32, a quick ratio of 2.22 and a debt-to-equity ratio of 0.42.

Neogen 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.

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