Neogen Co. (NASDAQ:NEOG) Shares Purchased by Neuberger Berman Group LLC

Neuberger Berman Group LLC raised its position in shares of Neogen Co. (NASDAQ:NEOG) by 34.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,200 shares of the company’s stock after acquiring an additional 4,418 shares during the period. Neuberger Berman Group LLC’s holdings in Neogen were worth $209,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harbour Investments Inc. purchased a new stake in Neogen during the 4th quarter worth $27,000. Blue Trust Inc. lifted its stake in shares of Neogen by 196.7% during the fourth quarter. Blue Trust Inc. now owns 3,368 shares of the company’s stock worth $41,000 after purchasing an additional 2,233 shares in the last quarter. KBC Group NV boosted its position in shares of 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 buying an additional 2,379 shares during the period. Brown Brothers Harriman & Co. grew its stake in shares of Neogen by 4,955.8% in the fourth quarter. Brown Brothers Harriman & Co. now owns 10,415 shares of the company’s stock valued at $126,000 after buying an additional 10,209 shares in the last quarter. Finally, Hardy Reed LLC acquired a new stake in shares of Neogen in the fourth quarter valued at about $133,000. 96.73% of the stock is currently owned by institutional investors and hedge funds.

Neogen Stock Performance

Shares of NEOG stock opened at $5.58 on Friday. The company has a market cap of $1.21 billion, a P/E ratio of -2.55 and a beta of 1.57. The business has a 50 day moving average of $9.08 and a two-hundred day moving average of $11.97. Neogen Co. has a 52 week low of $3.87 and a 52 week high of $18.58. 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 released its quarterly earnings data on Wednesday, April 9th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). The firm had revenue of $221.00 million during the quarter, compared to analyst estimates of $225.27 million. Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. The firm’s revenue was down 3.4% on a year-over-year basis. During the same period last year, the business earned $0.12 EPS. As a group, analysts anticipate that Neogen Co. will post 0.38 EPS for the current year.

Insider Transactions at Neogen

In related news, CEO John Edward Adent bought 23,035 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were acquired at an average cost of $11.03 per share, for a total transaction of $254,076.05. Following the acquisition, the chief executive officer now directly owns 269,164 shares of the company’s stock, valued at $2,968,878.92. The trade was a 9.36 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO John Patrick Moylan acquired 10,000 shares of Neogen stock in a transaction on Thursday, April 10th. The shares were purchased at an average cost of $5.07 per share, with a total value of $50,700.00. Following the completion of the purchase, the chief accounting officer now directly owns 10,000 shares of the company’s stock, valued at approximately $50,700. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 47,835 shares of company stock valued at $469,204. Corporate insiders own 1.13% of the company’s stock.

Analyst Upgrades and Downgrades

NEOG has been the topic of a number of recent research reports. Guggenheim reduced their target price on shares of Neogen from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Thursday. Piper Sandler reiterated a “neutral” rating and issued a $13.00 price objective (down previously from $16.50) on shares of Neogen in a report 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.