ExodusPoint Capital Management LP Makes New $3.10 Million Investment in Neogen Co. (NASDAQ:NEOG)

ExodusPoint Capital Management LP bought a new stake in shares of Neogen Co. (NASDAQ:NEOG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 255,617 shares of the company's stock, valued at approximately $3,103,000. ExodusPoint Capital Management LP owned 0.12% of Neogen as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Headlands Technologies LLC bought a new stake in Neogen in the 4th quarter valued at about $176,000. Franklin Resources Inc. lifted its stake in shares of Neogen by 0.6% during the 4th quarter. Franklin Resources Inc. now owns 929,022 shares of the company's stock valued at $11,278,000 after buying an additional 5,104 shares in the last quarter. Brown Brothers Harriman & Co. lifted its stake in shares of Neogen by 4,955.8% during the 4th quarter. Brown Brothers Harriman & Co. now owns 10,415 shares of the company's stock valued at $126,000 after buying an additional 10,209 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in Neogen by 26.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,369,595 shares of the company's stock worth $28,767,000 after buying an additional 501,957 shares during the period. Finally, New Age Alpha Advisors LLC bought a new stake in Neogen during the 4th quarter valued at $342,000. Hedge funds and other institutional investors own 96.73% of the company's stock.

Insider Transactions at Neogen

In other Neogen news, CAO John Patrick Moylan acquired 10,000 shares of the business's stock in a transaction dated Thursday, April 10th. The stock was bought at an average price of $5.07 per share, with a total value of $50,700.00. Following the purchase, the chief accounting officer now owns 10,000 shares of the company's stock, valued at approximately $50,700. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO David H. Naemura bought 14,800 shares of the firm's stock in a transaction that occurred on Thursday, January 16th. The stock was acquired at an average price of $11.11 per share, for a total transaction of $164,428.00. Following the transaction, the chief financial officer now owns 61,434 shares in the company, valued at $682,531.74. This trade represents a 31.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders bought 47,835 shares of company stock worth $469,204. 1.13% of the stock is currently owned by corporate insiders.

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Wall Street Analysts Forecast Growth

NEOG has been the topic of a number of analyst reports. Guggenheim decreased their price objective on Neogen from $15.00 to $13.00 and set a "buy" rating on the stock in a research note on Thursday. Piper Sandler reiterated a "neutral" rating and set a $13.00 price target (down from $16.50) on shares of Neogen in a research report on Tuesday, January 21st.

Neogen Price Performance

Shares of NASDAQ:NEOG traded down $0.05 on Friday, hitting $5.58. The company's stock had a trading volume of 7,941,109 shares, compared to its average volume of 2,549,685. Neogen Co. has a 1 year low of $3.87 and a 1 year high of $18.58. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.77 and a quick ratio of 2.46. The company has a market capitalization of $1.21 billion, a PE ratio of -2.55 and a beta of 1.57. The company has a 50-day simple moving average of $9.08 and a 200 day simple moving average of $11.97.

Neogen (NASDAQ:NEOG - Get Free Report) last released its quarterly earnings results on Wednesday, April 9th. The company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.12 by ($0.02). The company had revenue of $221.00 million during the quarter, compared to analysts' expectations of $225.27 million. Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. Neogen's quarterly revenue was down 3.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.12 EPS. Sell-side analysts forecast that Neogen Co. will post 0.38 EPS for the current fiscal year.

Neogen 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.