Universal Beteiligungs und Servicegesellschaft mbH Makes New Investment in Neogen Corporation (NASDAQ:NEOG)

Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Neogen Corporation (NASDAQ:NEOG) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 18,054 shares of the company’s stock, valued at approximately $157,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Covestor Ltd grew its position in Neogen by 41.4% during the 4th quarter. Covestor Ltd now owns 4,103 shares of the company’s stock worth $50,000 after purchasing an additional 1,202 shares during the period. CHICAGO TRUST Co NA lifted its stake in Neogen by 19.1% in the 1st quarter. CHICAGO TRUST Co NA now owns 12,498 shares of the company’s stock worth $108,000 after purchasing an additional 2,000 shares in the last quarter. Ascent Group LLC lifted its stake in Neogen by 17.8% in the 4th quarter. Ascent Group LLC now owns 14,340 shares of the company’s stock worth $174,000 after purchasing an additional 2,165 shares in the last quarter. Yousif Capital Management LLC raised its position in shares of Neogen by 3.9% during the 1st quarter. Yousif Capital Management LLC now owns 74,508 shares of the company’s stock valued at $646,000 after buying an additional 2,769 shares during the period. Finally, Bessemer Group Inc. raised its position in shares of Neogen by 2.6% during the 4th quarter. Bessemer Group Inc. now owns 109,083 shares of the company’s stock valued at $1,325,000 after buying an additional 2,784 shares during the period. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Analyst Upgrades and Downgrades

NEOG has been the subject of several research reports. Piper Sandler dropped their target price on shares of Neogen from $6.40 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, April 22nd. Guggenheim reduced their target price on shares of Neogen from $13.00 to $10.00 and set a “buy” rating for the company in a report on Monday, June 30th. Finally, William Blair cut shares of Neogen from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 29th.

Insider Activity at Neogen

In other news, Director Aashima Gupta purchased 16,000 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were purchased at an average price of $6.25 per share, with a total value of $100,000.00. Following the purchase, the director directly owned 21,917 shares of the company’s stock, valued at approximately $136,981.25. This represents a 270.41% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.13% of the company’s stock.

Neogen Price Performance

Shares of NASDAQ NEOG opened at $4.68 on Wednesday. The firm has a market cap of $1.02 billion, a P/E ratio of -0.93 and a beta of 1.79. The firm’s 50 day moving average price is $5.18 and its 200 day moving average price is $7.15. Neogen Corporation has a 1 year low of $3.87 and a 1 year high of $17.95. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.22 and a current ratio of 3.32.

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.