Napatree Capital LLC Sells 4,634 Shares of Neogen Co. (NASDAQ:NEOG)

Napatree Capital LLC lessened its stake in Neogen Co. (NASDAQ:NEOG) by 11.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,088 shares of the company’s stock after selling 4,634 shares during the period. Napatree Capital LLC’s holdings in Neogen were worth $438,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Stevens Capital Management LP bought a new stake in shares of Neogen during the fourth quarter worth $202,000. LPL Financial LLC raised its holdings in Neogen by 17.0% during the 4th quarter. LPL Financial LLC now owns 179,133 shares of the company’s stock worth $2,107,000 after purchasing an additional 26,002 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Neogen during the 4th quarter valued at about $503,000. American Century Companies Inc. boosted its stake in shares of Neogen by 55.0% in the 4th quarter. American Century Companies Inc. now owns 2,606,043 shares of the company’s stock valued at $31,637,000 after purchasing an additional 924,571 shares during the last quarter. Finally, Semanteon Capital Management LP grew its position in shares of Neogen by 152.3% during the 4th quarter. Semanteon Capital Management LP now owns 56,061 shares of the company’s stock worth $681,000 after buying an additional 33,843 shares during the period. Institutional investors and hedge funds own 96.73% of the company’s stock.

Insider Transactions at Neogen

In related news, CEO John Edward Adent acquired 23,035 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were acquired at an average cost of $11.03 per share, with a total value of $254,076.05. Following the transaction, 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David H. Naemura bought 14,800 shares of the stock in a transaction on Thursday, January 16th. The shares were purchased at an average price 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 in the company, valued at approximately $682,531.74. This represents 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.

Neogen Stock Performance

Shares of NASDAQ:NEOG opened at $8.85 on Friday. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of -4.04 and a beta of 1.27. The firm’s 50 day simple moving average is $10.46 and its 200 day simple moving average is $12.98. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.77 and a quick ratio of 2.46. Neogen Co. has a fifty-two week low of $8.60 and a fifty-two week high of $18.58.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings results on Friday, January 10th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.12. The company had revenue of $231.30 million during the quarter, compared to analyst estimates 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 revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.11 EPS. As a group, sell-side analysts forecast that Neogen Co. will post 0.38 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.