Neogen Co. (NASDAQ:NEOG) Shares Acquired by Xponance Inc.

Xponance Inc. boosted its stake in shares of Neogen Co. (NASDAQ:NEOG) by 8.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,627 shares of the company’s stock after purchasing an additional 2,468 shares during the quarter. Xponance Inc.’s holdings in Neogen were worth $372,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NEOG. Fred Alger Management LLC boosted its holdings in shares of Neogen by 86.5% during the third quarter. Fred Alger Management LLC now owns 3,986,744 shares of the company’s stock valued at $67,017,000 after acquiring an additional 1,849,427 shares during the period. William Blair Investment Management LLC lifted its position in Neogen by 8.1% in the 4th quarter. William Blair Investment Management LLC now owns 14,346,759 shares of the company’s stock valued at $174,170,000 after purchasing an additional 1,074,825 shares during the last quarter. American Capital Management Inc. boosted its stake in Neogen by 36.5% during the 3rd quarter. American Capital Management Inc. now owns 3,414,700 shares of the company’s stock valued at $57,401,000 after purchasing an additional 913,604 shares during the period. Harbor Capital Advisors Inc. grew its position in Neogen by 32.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 1,303,465 shares of the company’s stock worth $15,824,000 after purchasing an additional 316,457 shares during the last quarter. Finally, State Street Corp grew its position in Neogen by 3.1% in the 3rd quarter. State Street Corp now owns 7,932,192 shares of the company’s stock worth $133,340,000 after purchasing an additional 236,762 shares during the last quarter. 96.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on NEOG. Piper Sandler reiterated a “neutral” rating and set a $13.00 price objective (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 set a “buy” rating and a $15.00 price target for the company.

Neogen Stock Down 0.2 %

NEOG stock opened at $8.43 on Thursday. The firm’s 50-day moving average is $10.25 and its two-hundred day moving average is $12.83. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of -3.85 and a beta of 1.27. Neogen Co. has a 52 week low of $8.31 and a 52 week high of $18.58. The company has a current ratio of 3.77, a quick ratio of 2.46 and a debt-to-equity ratio of 0.33.

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

Insider Activity

In other Neogen news, CFO David H. Naemura purchased 14,800 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was bought at an average cost of $11.11 per share, with a total value of $164,428.00. Following the acquisition, the chief financial officer now owns 61,434 shares of the company’s stock, valued at $682,531.74. The trade was a 31.74 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO John Edward Adent acquired 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, for a total transaction of $254,076.05. Following the purchase, the chief executive officer now directly owns 269,164 shares in the company, valued at approximately $2,968,878.92. The trade was a 9.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.13% of the company’s stock.

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.