Kennedy Capital Management LLC Acquires 64,358 Shares of Neogen Co. (NASDAQ:NEOG)

Kennedy Capital Management LLC grew its stake in Neogen Co. (NASDAQ:NEOG - Free Report) by 14.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 507,596 shares of the company's stock after buying an additional 64,358 shares during the period. Kennedy Capital Management LLC owned approximately 0.23% of Neogen worth $6,162,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in NEOG. Norges Bank purchased a new position in Neogen in the 4th quarter worth $212,171,000. Vanguard Group Inc. boosted its holdings in Neogen by 9.8% during the 4th quarter. Vanguard Group Inc. now owns 21,637,251 shares of the company's stock valued at $262,676,000 after acquiring an additional 1,928,491 shares during the period. Private Advisor Group LLC grew its position in Neogen by 135.3% during the 4th quarter. Private Advisor Group LLC now owns 67,298 shares of the company's stock worth $817,000 after acquiring an additional 38,703 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Neogen by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,061,927 shares of the company's stock worth $25,032,000 after purchasing an additional 52,663 shares during the period. Finally, Pictet Asset Management Holding SA lifted its position in Neogen by 26.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 2,369,595 shares of the company's stock valued at $28,767,000 after purchasing an additional 501,957 shares during the last quarter. Institutional investors own 96.73% of the company's stock.

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Wall Street Analyst Weigh In

A number of analysts have recently weighed in on NEOG shares. Guggenheim dropped their target price on shares of Neogen from $15.00 to $13.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Piper Sandler decreased their target price on Neogen from $13.00 to $6.50 and set a "neutral" rating for the company in a report on Monday.

Insiders Place Their Bets

In other news, CEO John Edward Adent bought 23,035 shares of the stock in a transaction dated Thursday, January 16th. The stock was purchased 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 $2,968,878.92. The trade was a 9.36 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO John Patrick Moylan purchased 10,000 shares of the business's stock in a transaction that occurred on Thursday, April 10th. The shares were purchased at an average price of $5.07 per share, for a total transaction of $50,700.00. Following the completion of the acquisition, the chief accounting officer now directly owns 10,000 shares in the company, valued at $50,700. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 47,835 shares of company stock valued at $469,204 in the last quarter. 1.13% of the stock is currently owned by insiders.

Neogen Stock Performance

NASDAQ:NEOG traded down $0.45 during trading hours on Tuesday, reaching $4.95. The company had a trading volume of 7,483,013 shares, compared to its average volume of 2,577,703. 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 52 week low of $3.87 and a 52 week high of $18.58. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -2.26 and a beta of 1.57. The firm's 50 day moving average price is $8.86 and its 200-day moving average price is $11.81.

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