5 Best High-Risk High-Reward Stocks To Buy Now

1. Neogen Corporation (NASDAQ:NEOG)

Number of Hedge Fund Holders: 32

Neogen Corporation (NASDAQ:NEOG) is an international food safety company that provides test kits and relevant products to detect dangerous substances in food. The company was founded in 1982 and is based in Lansing, Michigan. Earlier this October, the company’s Megazyme Rapid Integrated Total Dietary Fiber – RINTDF – method had been accepted by the Association of Official Analytical Chemists, or AOAC International.

On November 22, William Blair analyst Brandon Vazquez upgraded Neogen Corporation (NASDAQ:NEOG) to Outperform from Market Perform without a price target. After a meeting with the company’s management, the analyst stated that he was left “encouraged for upside and potentially accelerated growth” of Neogen and 3M’s combined food safety business. The analyst sees meaningful upside for Neogen shares and encourages investors to take advantage of the recent stock weakness “given the strong fundamental setup and relatively undervalued stock today.”

At the end of the third quarter of 2022, 32 hedge funds in the database of Insider Monkey held stakes worth $422.6 million in Neogen Corporation (NASDAQ:NEOG), compared to 21 in the preceding quarter worth $225.6 million.

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