Neogen Co. (NASDAQ:NEOG) Shares Bought by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC grew its position in Neogen Co. (NASDAQ:NEOG - Free Report) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,642,726 shares of the company's stock after buying an additional 36,605 shares during the quarter. Stephens Investment Management Group LLC owned 1.22% of Neogen worth $32,083,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Stephens Inc. AR increased its position in shares of Neogen by 2.6% in the third quarter. Stephens Inc. AR now owns 35,930 shares of the company's stock valued at $604,000 after buying an additional 909 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Neogen by 142.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company's stock valued at $33,000 after buying an additional 1,165 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Neogen by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 22,810 shares of the company's stock valued at $383,000 after buying an additional 1,550 shares in the last quarter. Inspire Investing LLC increased its position in shares of Neogen by 6.6% in the third quarter. Inspire Investing LLC now owns 27,803 shares of the company's stock valued at $467,000 after buying an additional 1,729 shares in the last quarter. Finally, Lindenwold Advisors INC increased its position in shares of Neogen by 19.1% in the third quarter. Lindenwold Advisors INC now owns 12,821 shares of the company's stock valued at $216,000 after buying an additional 2,055 shares in the last quarter. Hedge funds and other institutional investors own 96.73% of the company's stock.

Neogen Trading Down 2.1 %

Shares of NASDAQ NEOG traded down $0.21 during midday trading on Wednesday, hitting $9.95. The stock had a trading volume of 1,988,645 shares, compared to its average volume of 2,792,469. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of -4.54 and a beta of 1.23. Neogen Co. has a 1-year low of $9.94 and a 1-year high of $18.58. 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 company has a fifty day moving average price of $11.89 and a 200 day moving average price of $14.29.

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

Insider Activity at Neogen

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

Analyst Ratings Changes

NEOG has been the topic of a number of analyst reports. Piper Sandler reaffirmed a "neutral" rating and set a $13.00 price objective (down previously from $16.50) on shares of Neogen in a research note 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 on the stock.

Neogen Company 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.