Samjo Management LLC Has $5.28 Million Stake in Neogen Corporation $NEOG

Key Points

• Samjo Management LLC significantly increased its stake in Neogen Corporation by 2,942.2%, now holding 608,445 shares, which accounts for approximately 2.2% of its investment portfolio.
• Neogen Corporation's stock has fluctuated between a one year low of $3.87 and a one year high of $17.95, with current trading at $5.64.
• Analysts have mixed views on Neogen, with Zacks upgrading the stock to a "hold" rating, while Guggenheim lowered its price target from $13.00 to $10.00 while maintaining a "buy" rating.

Samjo Management LLC lifted its stake in Neogen Corporation (NASDAQ:NEOG - Free Report) by 2,942.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 608,445 shares of the company's stock after acquiring an additional 588,445 shares during the period. Neogen accounts for about 2.2% of Samjo Management LLC's investment portfolio, making the stock its 12th largest position. Samjo Management LLC owned approximately 0.28% of Neogen worth $5,275,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Versant Capital Management Inc lifted its stake in shares of Neogen by 1,495.4% in 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 during the last quarter. Johnson Financial Group Inc. bought a new position in Neogen in the 4th quarter worth $43,000. Caitong International Asset Management Co. Ltd lifted its position in Neogen by 388.6% during the 1st 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 during the last quarter. Lindenwold Advisors INC bought a new stake in Neogen during the first quarter valued at about $92,000. Finally, Angeles Wealth Management LLC bought a new stake in Neogen during the first quarter valued at about $99,000. Institutional investors and hedge funds own 96.73% of the company's stock.

Neogen Stock Up 0.7%

Shares of NEOG stock opened at $5.64 on Friday. Neogen Corporation has a one year low of $3.87 and a one year high of $17.95. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.32 and a quick ratio of 2.22. The stock has a fifty day moving average price of $5.11 and a 200 day moving average price of $6.64. The stock has a market cap of $1.23 billion, a P/E ratio of -1.12 and a beta of 1.79.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NEOG. Zacks Research raised Neogen from a "strong sell" rating to a "hold" rating in a research report on Wednesday. William Blair downgraded shares of Neogen from an "outperform" rating to a "market perform" rating in a research note 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 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, Neogen currently has a consensus rating of "Hold" and a consensus price target of $7.50.

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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