Neogen Co. (NASDAQ:NEOG) Shares Acquired by Legacy Advisors LLC

Legacy Advisors LLC increased its position in shares of Neogen Co. (NASDAQ:NEOGFree Report) by 83.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,388 shares of the company’s stock after purchasing an additional 11,571 shares during the quarter. Legacy Advisors LLC’s holdings in Neogen were worth $511,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC raised its position in shares of Neogen by 416.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,033 shares of the company’s stock worth $56,000 after purchasing an additional 2,446 shares during the period. C M Bidwell & Associates Ltd. bought a new stake in Neogen in the third quarter valued at $151,000. Savant Capital LLC boosted its holdings in shares of Neogen by 9.4% during the third quarter. Savant Capital LLC now owns 10,320 shares of the company’s stock valued at $191,000 after acquiring an additional 889 shares during the period. Fox Run Management L.L.C. bought a new position in shares of Neogen during the third quarter worth about $201,000. Finally, Connable Office Inc. bought a new position in shares of Neogen during the fourth quarter worth about $202,000. Institutional investors and hedge funds own 96.73% of the company’s stock.

Insider Activity

In other news, Director James C. Borel acquired 7,500 shares of the company’s stock in a transaction dated Thursday, April 11th. The shares were bought at an average price of $13.06 per share, with a total value of $97,950.00. Following the purchase, the director now owns 21,392 shares of the company’s stock, valued at $279,379.52. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO David H. Naemura purchased 12,500 shares of the company’s stock in a transaction on Wednesday, April 10th. The shares were bought at an average price of $12.51 per share, with a total value of $156,375.00. Following the completion of the acquisition, the chief financial officer now owns 30,040 shares of the company’s stock, valued at $375,800.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James C. Borel acquired 7,500 shares of Neogen stock in a transaction dated Thursday, April 11th. The shares were bought at an average cost of $13.06 per share, with a total value of $97,950.00. Following the completion of the purchase, the director now owns 21,392 shares in the company, valued at $279,379.52. The disclosure for this purchase can be found here. Insiders purchased 53,000 shares of company stock worth $662,205 over the last three months. Corporate insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

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

Read Our Latest Stock Analysis on Neogen

Neogen Stock Performance

Neogen stock traded down $0.29 during mid-day trading on Wednesday, hitting $13.23. 560,445 shares of the company’s stock traded hands, compared to its average volume of 2,088,910. The company has a quick ratio of 2.66, a current ratio of 3.82 and a debt-to-equity ratio of 0.28. Neogen Co. has a one year low of $11.46 and a one year high of $24.09. The firm has a 50 day moving average price of $13.29 and a 200 day moving average price of $15.97. The company has a market cap of $2.87 billion, a PE ratio of 1,353.35 and a beta of 1.18.

Neogen (NASDAQ:NEOGGet Free Report) last issued its quarterly earnings data on Tuesday, April 9th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). The company had revenue of $228.80 million for the quarter, compared to the consensus estimate of $230.01 million. Neogen had a net margin of 0.17% and a return on equity of 3.35%. Neogen’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.12 earnings per share. On average, equities analysts forecast that Neogen Co. will post 0.46 EPS for the current year.

About Neogen

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Neogen (NASDAQ:NEOG)

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