Neogen Co. (NASDAQ:NEOG) Shares Bought by Private Advisor Group LLC

Private Advisor Group LLC raised its stake in Neogen Co. (NASDAQ:NEOG - Free Report) by 135.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,298 shares of the company's stock after purchasing an additional 38,703 shares during the period. Private Advisor Group LLC's holdings in Neogen were worth $817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Fred Alger Management LLC lifted its position in Neogen by 86.5% during the 3rd quarter. Fred Alger Management LLC now owns 3,986,744 shares of the company's stock worth $67,017,000 after acquiring an additional 1,849,427 shares during the period. American Capital Management Inc. raised its stake in shares of Neogen by 36.5% in the third quarter. American Capital Management Inc. now owns 3,414,700 shares of the company's stock worth $57,401,000 after purchasing an additional 913,604 shares during the last quarter. Champlain Investment Partners LLC raised its stake in shares of Neogen by 10.7% in the third quarter. Champlain Investment Partners LLC now owns 7,110,530 shares of the company's stock worth $119,528,000 after purchasing an additional 690,029 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Neogen by 148.0% during the third quarter. Harbor Capital Advisors Inc. now owns 987,008 shares of the company's stock worth $16,592,000 after purchasing an additional 588,962 shares during the period. Finally, State Street Corp boosted its position in Neogen by 3.1% in the third quarter. State Street Corp now owns 7,932,192 shares of the company's stock valued at $133,340,000 after buying an additional 236,762 shares during the last quarter. 96.73% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

Several research analysts recently issued reports on NEOG shares. Piper Sandler reissued a "neutral" rating and set a $13.00 target price (down previously from $16.50) on shares of Neogen in a report on Tuesday, January 21st. Guggenheim initiated coverage on Neogen in a research note on Thursday, December 19th. They set a "buy" rating and a $15.00 price objective for the company.

Neogen Stock Performance

Shares of NASDAQ NEOG traded down $0.06 during midday trading on Wednesday, reaching $9.54. 1,738,668 shares of the stock were exchanged, compared to its average volume of 1,960,707. The company has a quick ratio of 2.46, a current ratio of 3.77 and a debt-to-equity ratio of 0.33. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of -4.36 and a beta of 1.27. The firm has a 50-day simple moving average of $11.24 and a two-hundred day simple moving average of $13.62. Neogen Co. has a twelve month low of $9.01 and a twelve month high of $18.58.

Neogen (NASDAQ:NEOG - Get Free Report) last released its quarterly earnings results on Friday, January 10th. The company reported $0.11 EPS for the quarter, beating 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 company had revenue of $231.30 million for the quarter, compared to analyst estimates of $227.16 million. During the same quarter last year, the business earned $0.11 earnings per share. The firm's revenue was up .7% on a year-over-year basis. As a group, analysts anticipate that Neogen Co. will post 0.38 EPS for the current fiscal year.

Insider Buying and Selling

In other Neogen news, CEO John Edward Adent bought 23,035 shares of the stock in a transaction on Thursday, January 16th. The shares were bought at an average price of $11.03 per share, with a total value of $254,076.05. Following the purchase, the chief executive officer now directly owns 269,164 shares in the company, valued at $2,968,878.92. This trade represents a 9.36 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO David H. Naemura purchased 14,800 shares of the business's stock in a transaction that occurred on Thursday, January 16th. The stock was bought 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 owns 61,434 shares of the company's stock, valued at approximately $682,531.74. The trade was a 31.74 % increase in their position. The disclosure for this purchase can be found here. 1.13% of the stock is currently 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.