AlphaCentric Advisors LLC Takes Position in Neogen Co. (NASDAQ:NEOG)

AlphaCentric Advisors LLC acquired a new stake in Neogen Co. (NASDAQ:NEOG - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 42,737 shares of the company's stock, valued at approximately $519,000.

A number of other large investors have also recently added to or reduced their stakes in NEOG. Citigroup Inc. lifted its holdings in shares of Neogen by 129.1% in the third quarter. Citigroup Inc. now owns 231,833 shares of the company's stock valued at $3,897,000 after purchasing an additional 130,641 shares in the last quarter. American Capital Management Inc. boosted its position in Neogen by 36.5% during the 3rd quarter. American Capital Management Inc. now owns 3,414,700 shares of the company's stock worth $57,401,000 after acquiring an additional 913,604 shares during the last quarter. State Street Corp grew its stake in shares of Neogen by 3.1% during the 3rd quarter. State Street Corp now owns 7,932,192 shares of the company's stock worth $133,340,000 after acquiring an additional 236,762 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Neogen by 17.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,166 shares of the company's stock valued at $642,000 after purchasing an additional 5,804 shares during the last quarter. Finally, Barclays PLC lifted its position in shares of Neogen by 129.8% in the third quarter. Barclays PLC now owns 366,753 shares of the company's stock worth $6,165,000 after purchasing an additional 207,160 shares in the last quarter. Institutional investors own 96.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NEOG. Guggenheim initiated 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. Piper Sandler restated a "neutral" rating and issued a $13.00 price objective (down previously from $16.50) on shares of Neogen in a report on Tuesday, January 21st.

Neogen Stock Down 1.8 %

Shares of Neogen stock traded down $0.19 on Wednesday, reaching $10.21. 1,526,679 shares of the company were exchanged, compared to its average volume of 2,725,962. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of -4.66 and a beta of 1.23. 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 one year low of $9.70 and a one year high of $18.58. The company has a 50-day moving average of $11.66 and a 200 day moving average of $14.08.

Neogen (NASDAQ:NEOG - Get Free Report) last posted its quarterly earnings results on Friday, January 10th. The company reported $0.11 earnings per share (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 analyst estimates of $227.16 million. During the same period in the prior year, the firm posted $0.11 earnings per share. The company's quarterly revenue was up .7% compared to the same quarter last year. On average, equities research analysts forecast that Neogen Co. will post 0.38 earnings per share for the current year.

Insider Activity

In other Neogen news, CEO John Edward Adent bought 23,035 shares of the firm's stock in a transaction that occurred on Thursday, January 16th. The shares were acquired at an average cost of $11.03 per share, with a total value of $254,076.05. Following the acquisition, the chief executive officer now owns 269,164 shares of the company's stock, valued at $2,968,878.92. The trade was a 9.36 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David H. Naemura purchased 14,800 shares of the business's stock in a transaction on Thursday, January 16th. The shares were acquired at an average cost of $11.11 per share, with a total value of $164,428.00. Following the acquisition, the chief financial officer now directly owns 61,434 shares in the company, valued at approximately $682,531.74. The trade was a 31.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.13% of the stock is owned by insiders.

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.