Stephens Investment Management Group LLC Buys 52,522 Shares of Neogen Co. (NASDAQ:NEOG)

by · The Markets Daily

Stephens Investment Management Group LLC lifted its position in Neogen Co. (NASDAQ:NEOG – Free Report) by 2.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,606,121 shares of the company’s stock after purchasing an additional 52,522 shares during the quarter. Stephens Investment Management Group LLC owned about 1.20% of Neogen worth $43,809,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Covestor Ltd increased its stake in Neogen by 173.2% in the 1st quarter. Covestor Ltd now owns 1,970 shares of the company’s stock worth $31,000 after acquiring an additional 1,249 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Neogen by 142.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company’s stock valued at $33,000 after purchasing an additional 1,165 shares in the last quarter. Innealta Capital LLC bought a new position in Neogen during the second quarter valued at $46,000. Headlands Technologies LLC grew its stake in shares of Neogen by 264.1% in the 2nd quarter. Headlands Technologies LLC now owns 3,397 shares of the company’s stock worth $53,000 after buying an additional 2,464 shares in the last quarter. Finally, Family Firm Inc. purchased a new position in shares of Neogen in the 2nd quarter worth $90,000. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Neogen news, Director James P. Tobin acquired 3,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were bought at an average price of $16.86 per share, with a total value of $50,580.00. Following the transaction, the director now directly owns 23,392 shares of the company’s stock, valued at $394,389.12. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO John Edward Adent purchased 14,500 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was purchased at an average price of $13.80 per share, for a total transaction of $200,100.00. Following the completion of the acquisition, the chief executive officer now owns 216,477 shares of the company’s stock, valued at approximately $2,987,382.60. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James P. Tobin acquired 3,000 shares of Neogen stock in a transaction on Tuesday, August 6th. The shares were purchased at an average price of $16.86 per share, for a total transaction of $50,580.00. Following the completion of the acquisition, the director now directly owns 23,392 shares in the company, valued at $394,389.12. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.13% of the stock is owned by corporate insiders.

Neogen Trading Down 2.0 %

NEOG stock opened at $14.28 on Friday. The firm’s fifty day simple moving average is $15.63 and its two-hundred day simple moving average is $15.19. The company has a current ratio of 4.41, a quick ratio of 2.79 and a debt-to-equity ratio of 0.28. Neogen Co. has a twelve month low of $11.46 and a twelve month high of $20.89.

Neogen (NASDAQ:NEOG – Get Free Report) last posted its quarterly earnings data on Thursday, October 10th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). Neogen had a positive return on equity of 2.80% and a negative net margin of 2.58%. The firm had revenue of $217.00 million during the quarter, compared to analysts’ expectations of $215.05 million. During the same period last year, the company earned $0.11 earnings per share. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. Analysts predict that Neogen Co. will post 0.52 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on NEOG. StockNews.com raised shares of Neogen to a “sell” rating in a report on Monday, September 30th. Piper Sandler lifted their target price on Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a report on Tuesday, August 6th.

Get Our Latest Stock Analysis on Neogen

About Neogen

(Free Report)

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.

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