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

Wrapmanager Inc. boosted its stake in Neogen Co. (NASDAQ:NEOG) by 15.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 26,305 shares of the company’s stock after acquiring an additional 3,451 shares during the quarter. Wrapmanager Inc.’s holdings in Neogen were worth $529,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. lifted its holdings in Neogen by 5.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 12,900 shares of the company’s stock valued at $259,000 after purchasing an additional 711 shares in the last quarter. United Services Automobile Association boosted its holdings in Neogen by 5.4% in the 3rd quarter. United Services Automobile Association now owns 14,747 shares of the company’s stock worth $273,000 after buying an additional 759 shares during the last quarter. Sheets Smith Wealth Management increased its stake in Neogen by 2.6% during the 4th quarter. Sheets Smith Wealth Management now owns 30,795 shares of the company’s stock worth $619,000 after buying an additional 771 shares in the last quarter. Simmons Bank raised its holdings in shares of Neogen by 4.1% during the third quarter. Simmons Bank now owns 19,740 shares of the company’s stock valued at $366,000 after acquiring an additional 775 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in shares of Neogen by 1.4% in the third quarter. Arizona State Retirement System now owns 58,486 shares of the company’s stock valued at $1,084,000 after acquiring an additional 790 shares in the last quarter. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler reduced their price objective on Neogen from $19.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, April 15th.

Neogen Trading Up 3.2 %

NASDAQ NEOG traded up $0.38 on Thursday, reaching $12.43. 1,365,442 shares of the company were exchanged, compared to its average volume of 2,153,945. The company has a current ratio of 3.82, a quick ratio of 2.66 and a debt-to-equity ratio of 0.28. The business’s fifty day moving average price is $14.03 and its 200 day moving average price is $16.14. The stock has a market capitalization of $2.69 billion, a P/E ratio of 1,244.24 and a beta of 1.18. Neogen Co. has a fifty-two week low of $11.46 and a fifty-two week high of $24.09.

Neogen (NASDAQ:NEOG) last posted its earnings results on Tuesday, April 9th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.02). The firm had revenue of $228.80 million during the quarter, compared to analyst estimates of $230.01 million. Neogen had a net margin of 0.17% and a return on equity of 3.35%. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.12 earnings per share. Analysts forecast that Neogen Co. will post 0.46 earnings per share for the current year.

Insider Activity

In related news, CFO David H. Naemura purchased 12,500 shares of the company’s stock in a transaction on Wednesday, April 10th. The stock was acquired at an average cost of $12.51 per share, for a total transaction of $156,375.00. Following the completion of the transaction, the chief financial officer now directly owns 30,040 shares in the company, valued at $375,800.40. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Neogen news, CEO John Edward Adent purchased 23,000 shares of Neogen stock in a transaction dated Wednesday, April 10th. The shares were acquired at an average price of $12.36 per share, with a total value of $284,280.00. Following the completion of the transaction, the chief executive officer now owns 152,389 shares of the company’s stock, valued at $1,883,528.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO David H. Naemura bought 12,500 shares of Neogen stock in a transaction on Wednesday, April 10th. The shares were acquired at an average price of $12.51 per share, for a total transaction of $156,375.00. Following the completion of the acquisition, the chief financial officer now owns 30,040 shares in the company, valued at $375,800.40. The disclosure for this purchase can be found here. Insiders have acquired a total of 53,000 shares of company stock valued at $662,205 in the last quarter. Insiders own 0.71% 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.