Cwm LLC Raises Stock Holdings in Neogen Corporation $NEOG

Cwm LLC lifted its holdings in shares of Neogen Corporation (NASDAQ:NEOG) by 165.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 18,575 shares of the company’s stock after acquiring an additional 11,584 shares during the period. Cwm LLC’s holdings in Neogen were worth $89,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of NEOG. Blue Trust Inc. lifted its holdings in Neogen by 181.7% in the second quarter. Blue Trust Inc. now owns 11,974 shares of the company’s stock valued at $57,000 after acquiring an additional 7,724 shares during the period. Greenleaf Trust purchased a new stake in shares of Neogen during the 2nd quarter valued at approximately $76,000. Avanza Fonder AB raised its position in shares of Neogen by 17.9% during the 2nd quarter. Avanza Fonder AB now owns 16,435 shares of the company’s stock valued at $79,000 after buying an additional 2,499 shares during the period. Caitong International Asset Management Co. Ltd increased its position in shares of 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 purchasing an additional 8,010 shares during the last quarter. Finally, Lindenwold Advisors INC acquired a new stake in shares of Neogen during the 1st quarter worth about $92,000. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NEOG shares. Zacks Research upgraded Neogen from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 20th. CJS Securities began coverage on Neogen in a research note on Monday, September 29th. They issued a “market perform” rating and a $10.00 price objective for the company. Wall Street Zen upgraded Neogen from a “hold” rating to a “buy” rating in a research note on Saturday. William Blair cut Neogen from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 29th. Finally, Piper Sandler set a $6.50 price objective on Neogen and gave the company a “neutral” rating in a research note on Thursday, October 16th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $8.83.

Neogen Stock Performance

NASDAQ NEOG opened at $6.17 on Monday. The company has a current ratio of 3.58, a quick ratio of 2.26 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $1.34 billion, a PE ratio of -1.29 and a beta of 1.90. Neogen Corporation has a twelve month low of $3.87 and a twelve month high of $16.79. The business’s 50-day moving average price is $5.80 and its 200 day moving average price is $5.52.

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.