Semanteon Capital Management LP Increases Holdings in Neogen Co. (NASDAQ:NEOG)

Semanteon Capital Management LP raised its holdings in shares of Neogen Co. (NASDAQ:NEOG - Free Report) by 152.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,061 shares of the company's stock after purchasing an additional 33,843 shares during the quarter. Semanteon Capital Management LP's holdings in Neogen were worth $681,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Harbour Investments Inc. acquired a new stake in shares of Neogen in the 4th quarter worth about $27,000. Blue Trust Inc. raised its stake 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 purchased a new position in shares of Neogen during the third quarter valued at approximately $66,000. KBC Group NV grew its holdings in Neogen by 39.1% during the fourth quarter. KBC Group NV now owns 8,464 shares of the company's stock worth $103,000 after buying an additional 2,379 shares in the last quarter. Finally, Hardy Reed LLC bought a new stake in Neogen during the fourth quarter worth $133,000. 96.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NEOG. Guggenheim started coverage on shares of Neogen in a report on Thursday, December 19th. They set a "buy" rating and a $15.00 price objective on the stock. Piper Sandler restated a "neutral" rating and set a $13.00 price target (down from $16.50) on shares of Neogen in a report on Tuesday, January 21st.

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Neogen Stock Performance

Shares of Neogen stock traded down $0.02 during trading hours on Wednesday, hitting $8.43. 2,992,450 shares of the company's stock traded hands, compared to its average volume of 2,147,319. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of -3.85 and a beta of 1.27. Neogen Co. has a 12-month low of $8.32 and a 12-month 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 fifty day simple moving average of $10.31 and a 200-day simple moving average of $12.86.

Neogen (NASDAQ:NEOG - Get Free Report) last posted its quarterly earnings data on Friday, January 10th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.01) by $0.12. The business had revenue of $231.30 million during the quarter, compared to the consensus estimate of $227.16 million. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The firm's quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the company posted $0.11 earnings per share. Equities research analysts anticipate that Neogen Co. will post 0.38 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO David H. Naemura acquired 14,800 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were acquired at an average cost of $11.11 per share, for a total transaction of $164,428.00. Following the purchase, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John Edward Adent bought 23,035 shares of the business's stock in a transaction on Thursday, January 16th. The shares were acquired at an average price of $11.03 per share, with a total value of $254,076.05. Following the transaction, the chief executive officer now directly owns 269,164 shares of the company's stock, valued at approximately $2,968,878.92. This trade represents 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 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.