By otakuyassine3@gmail.com 
Sei Investments Co. cut its holdings in Neogen Co. (NASDAQ:NEOG – Free Report) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 415,833 shares of the company’s stock after selling 9,617 shares during the quarter. Sei Investments Co. owned 0.19% of Neogen worth $5,048,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Harbour Investments Inc. purchased a new position in shares of Neogen in the 4th quarter worth $27,000. Blue Trust Inc. grew its position in Neogen by 196.7% in the fourth quarter. Blue Trust Inc. now owns 3,368 shares of the company’s stock worth $41,000 after acquiring an additional 2,233 shares in the last quarter. Neo Ivy Capital Management bought a new stake in Neogen during the third quarter worth approximately $66,000. KBC Group NV raised its position in Neogen by 39.1% during the fourth quarter. KBC Group NV now owns 8,464 shares of the company’s stock valued at $103,000 after purchasing an additional 2,379 shares during the period. Finally, Hardy Reed LLC bought a new stake in shares of Neogen in the 4th quarter valued at approximately $133,000. Institutional investors own 96.73% of the company’s stock.
Neogen Stock Performance
Shares of Neogen stock opened at $8.39 on Wednesday. The company has a quick ratio of 2.46, a current ratio of 3.77 and a debt-to-equity ratio of 0.33. The stock’s fifty day moving average is $10.02 and its two-hundred day moving average is $12.62. Neogen Co. has a 52 week low of $8.04 and a 52 week high of $18.58. The company has a market capitalization of $1.82 billion, a PE ratio of -3.83 and a beta of 1.27.
Neogen (NASDAQ:NEOG – Get Free Report) last posted its quarterly earnings results on Friday, January 10th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.12. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The firm had revenue of $231.30 million for the quarter, compared to analysts’ expectations of $227.16 million. During the same period in the prior year, the business posted $0.11 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis. As a group, analysts expect that Neogen Co. will post 0.38 earnings per share for the current year.
Analyst Ratings Changes
Several analysts recently weighed in on the company. Piper Sandler restated a “neutral” rating and set a $13.00 price target (down previously from $16.50) on shares of Neogen in a report on Tuesday, January 21st. Guggenheim assumed coverage on shares of Neogen in a research note on Thursday, December 19th. They issued a “buy” rating and a $15.00 target price on the stock.
Check Out Our Latest Stock Analysis on Neogen
Insider Transactions at Neogen
In other Neogen news, CFO David H. Naemura bought 14,800 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were acquired at an average price of $11.11 per share, with a total value of $164,428.00. Following the transaction, the chief financial officer now owns 61,434 shares of the company’s stock, valued at approximately $682,531.74. This trade represents a 31.74 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO John Edward Adent purchased 23,035 shares of the stock in a transaction dated Thursday, January 16th. The stock was acquired at an average cost of $11.03 per share, with a total value of $254,076.05. Following the transaction, the chief executive officer now directly owns 269,164 shares in the company, valued at approximately $2,968,878.92. This trade represents a 9.36 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.13% of the company’s stock.
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.
Further Reading
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