Stephens Investment Management Group LLC Has $32.08 Million Stock Position in Neogen Co. (NASDAQ:NEOG)

Stephens Investment Management Group LLC lifted its stake in shares of Neogen Co. (NASDAQ:NEOG) by 1.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,642,726 shares of the company’s stock after buying an additional 36,605 shares during the period. Stephens Investment Management Group LLC’s holdings in Neogen were worth $32,083,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its position in shares of Neogen by 142.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company’s stock worth $33,000 after buying an additional 1,165 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Neogen by 196.7% during the 4th quarter. Blue Trust Inc. now owns 3,368 shares of the company’s stock worth $41,000 after buying an additional 2,233 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of Neogen during the 3rd quarter worth $66,000. KBC Group NV lifted its position in shares of Neogen by 39.1% during the 4th 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 last quarter. Finally, Marco Investment Management LLC bought a new stake in shares of Neogen during the 3rd quarter worth $169,000. 96.73% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Neogen

In other Neogen news, CFO David H. Naemura bought 14,800 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was acquired at an average price of $11.11 per share, with a total value of $164,428.00. Following the completion of the purchase, the chief financial officer now directly 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 is available at this link. Also, 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, with a total value of $254,076.05. Following the purchase, the chief executive officer now directly owns 269,164 shares of the company’s stock, valued at $2,968,878.92. This trade represents a 9.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.13% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on NEOG shares. Piper Sandler reiterated a “neutral” rating and issued a $13.00 target price (down from $16.50) on shares of Neogen in a research report on Tuesday, January 21st. Guggenheim started 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.

Neogen Price Performance

Shares of NEOG opened at $10.37 on Friday. Neogen Co. has a 1 year low of $10.27 and a 1 year high of $18.58. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.77 and a quick ratio of 2.46. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of -4.74 and a beta of 1.23. The business has a 50-day moving average of $12.08 and a 200-day moving average of $14.44.

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

Neogen Company 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.