14,478 Shares in Neogen Co. (NASDAQ:NEOG) Acquired by Headlands Technologies LLC

Headlands Technologies LLC bought a new stake in shares of Neogen Co. (NASDAQ:NEOG) during the 4th quarter, HoldingsChannel.com reports. The firm bought 14,478 shares of the company’s stock, valued at approximately $176,000.

Several other large investors also recently added to or reduced their stakes in NEOG. Vanguard Group Inc. grew its holdings in shares of Neogen by 9.8% during the fourth quarter. Vanguard Group Inc. now owns 21,637,251 shares of the company’s stock valued at $262,676,000 after buying an additional 1,928,491 shares in the last quarter. Norges Bank purchased a new position in Neogen during the 4th quarter valued at about $212,171,000. William Blair Investment Management LLC grew its stake in Neogen by 8.1% during 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 acquiring an additional 1,074,825 shares in the last quarter. State Street Corp lifted its position in shares of Neogen by 3.1% in the third 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 in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Neogen by 0.4% during the third quarter. Geode Capital Management LLC now owns 5,148,388 shares of the company’s stock worth $86,559,000 after purchasing an additional 20,387 shares during the period. 96.73% of the stock is owned by institutional investors and hedge funds.

Neogen Trading Down 4.1 %

Shares of NASDAQ NEOG opened at $7.80 on Friday. The business has a 50 day simple moving average of $9.80 and a 200 day simple moving average of $12.47. Neogen Co. has a 52 week low of $7.68 and a 52 week high of $18.58. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of -3.56 and a beta of 1.57. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.46 and a current ratio of 3.77.

Neogen (NASDAQ:NEOG) last announced its quarterly 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. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The company had revenue of $231.30 million for the quarter, compared to analyst estimates of $227.16 million. During the same quarter in the prior year, the business posted $0.11 EPS. Neogen’s quarterly revenue was up .7% on a year-over-year basis. On average, research analysts predict that Neogen Co. will post 0.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on NEOG shares. Guggenheim initiated coverage on shares of Neogen in a research report on Thursday, December 19th. They set a “buy” rating and a $15.00 price objective on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $13.00 price target (down from $16.50) on shares of Neogen in a research note on Tuesday, January 21st.

Insider Buying and Selling at Neogen

In related news, CFO David H. Naemura bought 14,800 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was purchased at an average price of $11.11 per share, with a total value of $164,428.00. Following the completion of the transaction, the chief financial officer now directly owns 61,434 shares of the company’s stock, valued at $682,531.74. This trade represents a 31.74 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John Edward Adent purchased 23,035 shares of the stock in a transaction on Thursday, January 16th. The shares were bought at an average price of $11.03 per share, for a total transaction of $254,076.05. Following the acquisition, the chief executive officer now owns 269,164 shares of the company’s stock, 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. Corporate 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.