Wrapmanager Inc. Trims Stake in Neogen Co. (NASDAQ:NEOG)

Wrapmanager Inc. lessened its holdings in Neogen Co. (NASDAQ:NEOG) by 20.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 17,007 shares of the company’s stock after selling 4,401 shares during the quarter. Wrapmanager Inc.’s holdings in Neogen were worth $206,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Neogen by 142.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company’s stock valued at $33,000 after acquiring an additional 1,165 shares in the last quarter. Blue Trust Inc. increased its position in shares of Neogen by 196.7% in the fourth quarter. Blue Trust Inc. now owns 3,368 shares of the company’s stock worth $41,000 after purchasing an additional 2,233 shares during the last quarter. Neo Ivy Capital Management bought a new position in shares of Neogen in the third quarter worth approximately $66,000. KBC Group NV raised its stake in Neogen by 39.1% in the fourth quarter. KBC Group NV now owns 8,464 shares of the company’s stock valued at $103,000 after purchasing an additional 2,379 shares in the last quarter. Finally, Hardy Reed LLC bought a new stake in Neogen during the fourth quarter valued at approximately $133,000. Institutional investors own 96.73% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on NEOG shares. Piper Sandler reissued a “neutral” rating and issued a $13.00 price target (down previously from $16.50) on shares of Neogen in a report on Tuesday, January 21st. Guggenheim began coverage on shares of Neogen in a research report on Thursday, December 19th. They issued a “buy” rating and a $15.00 target price for the company.

Insider Buying and Selling

In related news, CFO David H. Naemura bought 14,800 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was bought at an average cost of $11.11 per share, for a total transaction of $164,428.00. Following the acquisition, the chief financial officer now directly owns 61,434 shares of the company’s stock, valued at $682,531.74. The trade was a 31.74 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John Edward Adent purchased 23,035 shares of Neogen stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 269,164 shares in the company, valued at $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. 1.13% of the stock is owned by corporate insiders.

Neogen Stock Performance

Shares of NASDAQ NEOG opened at $10.30 on Wednesday. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of -4.70 and a beta of 1.23. The stock’s 50-day moving average is $11.45 and its 200 day moving average is $13.85. The company has a current ratio of 3.77, a quick ratio of 2.46 and a debt-to-equity ratio of 0.33. Neogen Co. has a 1-year low of $9.70 and a 1-year high of $18.58.

Neogen (NASDAQ:NEOG) last posted 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 firm had revenue of $231.30 million for the quarter, compared to the consensus estimate of $227.16 million. During the same period last year, the firm posted $0.11 earnings per share. The business’s revenue was up .7% compared to the same quarter last year. On average, sell-side analysts anticipate that Neogen Co. will post 0.38 EPS for the current fiscal year.

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.