39,171 Shares in Neogen Co. (NASDAQ:NEOG) Purchased by Napatree Capital LLC

Napatree Capital LLC purchased a new stake in shares of Neogen Co. (NASDAQ:NEOG) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 39,171 shares of the company’s stock, valued at approximately $788,000.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Neogen by 9.3% during the fourth quarter. Vanguard Group Inc. now owns 19,546,737 shares of the company’s stock worth $393,085,000 after buying an additional 1,663,125 shares during the last quarter. RMB Capital Management LLC grew its position in shares of Neogen by 3.6% in the 4th quarter. RMB Capital Management LLC now owns 364,700 shares of the company’s stock valued at $7,334,000 after acquiring an additional 12,734 shares during the period. Neuberger Berman Group LLC increased its stake in shares of Neogen by 27.3% during the 4th quarter. Neuberger Berman Group LLC now owns 298,877 shares of the company’s stock worth $6,010,000 after purchasing an additional 64,171 shares during the last quarter. Ranger Investment Management L.P. raised its holdings in shares of Neogen by 0.5% in the 4th quarter. Ranger Investment Management L.P. now owns 505,683 shares of the company’s stock valued at $10,169,000 after purchasing an additional 2,520 shares during the period. Finally, Trigran Investments Inc. acquired a new stake in Neogen in the 4th quarter valued at about $12,048,000. 96.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Neogen Stock Performance

NASDAQ NEOG opened at $16.77 on Tuesday. The stock has a market cap of $3.63 billion, a PE ratio of 1,677.00 and a beta of 1.19. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.66 and a current ratio of 3.82. The firm has a 50-day moving average of $13.44 and a 200-day moving average of $15.89. Neogen Co. has a 52-week low of $11.46 and a 52-week high of $24.09.

Neogen (NASDAQ:NEOG) last released its quarterly 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). Neogen had a net margin of 0.17% and a return on equity of 3.35%. The company had revenue of $228.80 million during the quarter, compared to the consensus estimate of $230.01 million. During the same period in the prior year, the company earned $0.12 earnings per share. The firm’s revenue was up 4.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Neogen Co. will post 0.46 EPS for the current year.

Insider Buying and Selling

In other Neogen news, CEO John Edward Adent purchased 23,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The shares were acquired at an average cost of $12.36 per share, for a total transaction of $284,280.00. Following the completion of the purchase, the chief executive officer now owns 152,389 shares of the company’s stock, valued at approximately $1,883,528.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO John Edward Adent purchased 23,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The stock was acquired at an average cost of $12.36 per share, for a total transaction of $284,280.00. Following the completion of the purchase, the chief executive officer now owns 152,389 shares in the company, valued at approximately $1,883,528.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David H. Naemura purchased 12,500 shares of Neogen stock in a transaction that occurred on Wednesday, April 10th. The shares were bought at an average cost of $12.51 per share, for a total transaction of $156,375.00. Following the transaction, the chief financial officer now directly owns 30,040 shares of the company’s stock, valued at $375,800.40. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 53,000 shares of company stock valued at $662,205. Insiders own 0.71% of the company’s stock.

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.