Qube Research & Technologies Ltd makes new investment in Neogen Co. (NASDAQ: NEOG)


Qube Research & Technologies Ltd has acquired a new stake in Neogen Co. (NASDAQ: NEOGGet an assessment) during Q1, according to the company in its latest 13F filing with the Securities & Exchange Commission. The company purchased 48,060 shares of the company, valued at approximately $1,482,000.

Several other hedge funds and other institutional investors also changed their positions in the company. RMB Capital Management LLC increased its position in Neogen shares by 12.3% in the first quarter. RMB Capital Management LLC now owns 260,545 shares of the company valued at $8,035,000 after acquiring an additional 28,581 shares last quarter. Fairfield Bush & CO. increased its position in Neogen shares by 3.5% in the first quarter. Fairfield Bush & CO. now owns 75,222 shares of the company valued at $2,320,000 after acquiring an additional 2,572 shares last quarter. The Florida Retirement System State Board increased its position in Neogen stock 28.0% in the first quarter. The Florida Retirement System State Board of Directors now owns 108,933 shares of the company valued at $3,359,000 after acquiring 23,799 additional shares last quarter. JJJ Advisors Inc. increased its position in Neogen shares by 71.6% in the first quarter. JJJ Advisors Inc. now owns 2,052 shares of the company valued at $64,000 after acquiring 856 additional shares in the last quarter. Finally, Aigen Investment Management LP bought a new position in Neogen stock in the first quarter valued at around $499,000. Hedge funds and other institutional investors hold 92.91% of the company’s shares.

Insider Activity at Neogen

In other Neogen news, Director Ronald D. Green purchased 1,500 shares of the company in a trade on Tuesday, August 2. The stock was purchased at an average price of $22.50 per share, with a total value of $33,750.00. Following the completion of the purchase, the director now directly owns 10,694 shares of the company, valued at $240,615. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via the SEC website. In other Neogen news, Director Ronald D. Green purchased 1,500 shares of the company in a trade on Tuesday, August 2. The stock was purchased at an average price of $22.50 per share, with a total value of $33,750.00. Following the completion of the purchase, the director now directly owns 10,694 shares of the company, valued at $240,615. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via the SEC website. Also, director James P.Tobin acquired 2,000 shares of the company in a transaction dated Wednesday, July 27. The shares were purchased at an average cost of $22.98 per share, with a total value of $45,960.00. Following the completion of the purchase, the director now directly owns 14,000 shares of the company, valued at approximately $321,720. Disclosure of this purchase can be found here. In the past 90 days, insiders have purchased 21,000 shares of the company worth $483,435. 0.52% of the shares are currently held by insiders.

Neogen Stock Performance

NASDAQ: NEOG opened at $22.28 on Tuesday. Neogen Co. has a 1-year low of $21.02 and a 1-year high of $47.80. The stock has a market capitalization of $2.40 billion, a PE ratio of 49.51 and a beta of 0.58. The stock has a 50-day moving average price of $23.02 and a 200-day moving average price of $28.40.

A Wall Street analyst gives his opinion

Separately, Piper Sandler began covering Neogen in a Monday, July 11 report. They issued a “neutral” rating and a price target of $25.00 for the company.

Neogen Company Profile

(Get an assessment)

Neogen Corporation, together with its subsidiaries, develops, manufactures and markets various food and animal safety products worldwide. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment offers diagnostic test kits and related products for detecting hazardous and unintentional substances in food and feed, including foodborne pathogens, spoilage organisms, natural toxins, food allergens, genetic modifications, ruminant by-products, meat speciation, drug residues, pesticide residues and general hygiene concerns; and the AccuPoint Advanced Rapid Sanitation Test for adenosine triphosphate, a chemical found in living cells.

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Institutional ownership by quarter for Neogen (NASDAQ: NEOG)



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