Neogen Co. (NASDAQ:NEOG) Shares Acquired by Shapiro Capital Management LLC

Shapiro Capital Management LLC raised its holdings in shares of Neogen Co. (NASDAQ:NEOG) by 47.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,932,850 shares of the company’s stock after buying an additional 949,300 shares during the period. Shapiro Capital Management LLC’s holdings in Neogen were worth $35,605,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Harbour Investments Inc. acquired a new position in shares of Neogen in the 4th quarter valued at $27,000. Blue Trust Inc. increased its position 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 acquiring an additional 2,233 shares during the period. Johnson Financial Group Inc. acquired a new position in shares of Neogen in the 4th quarter valued at $43,000. Covestor Ltd increased its position in shares of Neogen by 41.4% in the 4th quarter. Covestor Ltd now owns 4,103 shares of the company’s stock valued at $50,000 after acquiring an additional 1,202 shares during the period. Finally, KBC Group NV increased its position in shares of Neogen by 39.1% in the 4th quarter. KBC Group NV now owns 8,464 shares of the company’s stock valued at $103,000 after acquiring an additional 2,379 shares during the period. 96.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Neogen

In other Neogen news, Director Aashima Gupta acquired 16,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was bought at an average cost of $6.25 per share, for a total transaction of $100,000.00. Following the completion of the transaction, the director now owns 21,917 shares of the company’s stock, valued at approximately $136,981.25. The trade was a 270.41% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director James P. Tobin purchased 10,000 shares of the stock in a transaction dated Tuesday, April 22nd. The shares were purchased at an average price of $4.73 per share, with a total value of $47,300.00. Following the completion of the transaction, the director now owns 37,474 shares of the company’s stock, valued at approximately $177,252.02. This trade represents a 36.40% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 83,500 shares of company stock valued at $431,525 over the last quarter. 1.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

NEOG has been the topic of several research reports. Guggenheim cut their target price on Neogen from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Piper Sandler lowered their price target on shares of Neogen from $6.40 to $5.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd.

Neogen Price Performance

NASDAQ:NEOG opened at $6.56 on Friday. Neogen Co. has a one year low of $3.87 and a one year high of $18.58. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.46 and a current ratio of 3.77. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of -3.00 and a beta of 1.83. The firm’s fifty day moving average is $6.82 and its two-hundred day moving average is $10.44.

Neogen (NASDAQ:NEOG) last released its quarterly earnings results 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 business 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 business’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.12 EPS. Research analysts expect that Neogen Co. will post 0.38 EPS for the current year.

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.