Neogen Co. (NASDAQ:NEOG) Shares Bought by Peregrine Capital Management LLC

Peregrine Capital Management LLC grew its holdings in shares of Neogen Co. (NASDAQ:NEOG) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 583,444 shares of the company’s stock after buying an additional 10,470 shares during the quarter. Peregrine Capital Management LLC’s holdings in Neogen were worth $7,083,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Allspring Global Investments Holdings LLC boosted its stake in Neogen by 142.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company’s stock valued at $33,000 after acquiring an additional 1,165 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Neogen by 196.7% in the 4th quarter. Blue Trust Inc. now owns 3,368 shares of the company’s stock valued at $41,000 after purchasing an additional 2,233 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of Neogen during the third quarter worth about $66,000. KBC Group NV grew its stake in Neogen by 39.1% in the fourth quarter. KBC Group NV now owns 8,464 shares of the company’s stock worth $103,000 after purchasing an additional 2,379 shares in the last quarter. Finally, Marco Investment Management LLC bought a new stake in Neogen in the third quarter valued at about $169,000. Institutional investors and hedge funds own 96.73% of the company’s stock.

Insider Buying and Selling

In other news, CEO John Edward Adent acquired 23,035 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were purchased at an average cost of $11.03 per share, for a total transaction of $254,076.05. Following the transaction, the chief executive officer now directly owns 269,164 shares in the company, valued at $2,968,878.92. This trade represents a 9.36 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David H. Naemura bought 14,800 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was purchased 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 in the company, valued at $682,531.74. The trade was a 31.74 % increase in their position. The disclosure for this purchase can be found here. 1.13% of the stock is owned by company insiders.

Neogen Price Performance

Shares of NASDAQ:NEOG opened at $10.39 on Wednesday. The company has a market cap of $2.25 billion, a PE ratio of -4.74 and a beta of 1.23. Neogen Co. has a fifty-two week low of $9.70 and a fifty-two week high of $18.58. The firm has a 50-day simple moving average of $11.66 and a 200 day simple moving average of $14.08. The company has a quick ratio of 2.46, a current ratio of 3.77 and a debt-to-equity ratio of 0.33.

Neogen (NASDAQ:NEOG) last issued its earnings results on Friday, January 10th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.12. The company had revenue of $231.30 million during the quarter, compared to the consensus estimate of $227.16 million. Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. Neogen’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.11 earnings per share. On average, sell-side analysts anticipate that Neogen Co. will post 0.38 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Guggenheim initiated coverage on Neogen in a research report on Thursday, December 19th. They issued a “buy” rating and a $15.00 target price for the company. Piper Sandler restated a “neutral” rating and set a $13.00 price objective (down from $16.50) on shares of Neogen in a research note on Tuesday, January 21st.

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.