Neogen Co. (NASDAQ:NEOG) Shares Sold by ACK Asset Management LLC

ACK Asset Management LLC decreased its holdings in Neogen Co. (NASDAQ:NEOG) by 27.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,206,796 shares of the company’s stock after selling 452,604 shares during the quarter. Neogen comprises 2.0% of ACK Asset Management LLC’s investment portfolio, making the stock its 17th largest holding. ACK Asset Management LLC owned 0.56% of Neogen worth $14,651,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Neogen in the fourth quarter valued at about $212,171,000. Clarkston Capital Partners LLC purchased a new position in Neogen in the 4th quarter worth about $34,801,000. Vanguard Group Inc. grew its holdings in shares of Neogen by 9.8% during the fourth quarter. Vanguard Group Inc. now owns 21,637,251 shares of the company’s stock valued at $262,676,000 after buying an additional 1,928,491 shares in the last quarter. William Blair Investment Management LLC raised its holdings in shares of Neogen by 8.1% during the fourth quarter. William Blair Investment Management LLC now owns 14,346,759 shares of the company’s stock worth $174,170,000 after acquiring an additional 1,074,825 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Neogen by 55.0% in the fourth quarter. American Century Companies Inc. now owns 2,606,043 shares of the company’s stock worth $31,637,000 after purchasing an additional 924,571 shares in the last quarter. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Neogen Trading Up 0.6 %

Shares of NEOG stock opened at $7.85 on Tuesday. 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 $1.70 billion, a P/E ratio of -3.58 and a beta of 1.57. Neogen Co. has a 12-month low of $7.47 and a 12-month high of $18.58. The business has a 50-day moving average price of $9.72 and a two-hundred day moving average price of $12.37.

Neogen (NASDAQ:NEOG) last announced its earnings results on Friday, January 10th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $231.30 million during the quarter, compared to analyst estimates of $227.16 million. During the same period in the previous year, the business earned $0.11 EPS. The company’s quarterly revenue was up .7% compared to the same quarter last year. Equities analysts anticipate that Neogen Co. will post 0.38 EPS for the current fiscal year.

Analyst Ratings Changes

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

Insider Activity at Neogen

In other 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, with a total value of $164,428.00. Following the transaction, the chief financial officer now owns 61,434 shares in the company, valued at approximately $682,531.74. This trade represents a 31.74 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John Edward Adent purchased 23,035 shares of Neogen stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 269,164 shares in the company, valued at approximately $2,968,878.92. This trade represents a 9.36 % increase in their position. The disclosure for this purchase can be found here. 1.13% of the stock is currently owned by corporate insiders.

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.