Pine Valley Investments Ltd Liability Co Trims Stock Position in Neogen Co. (NASDAQ:NEOG)

Pine Valley Investments Ltd Liability Co reduced its position in Neogen Co. (NASDAQ:NEOG) by 20.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,675 shares of the company’s stock after selling 3,031 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in Neogen were worth $142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC raised its stake in Neogen by 142.6% in the 3rd 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 during the last quarter. Blue Trust Inc. raised its holdings in Neogen by 196.7% in the 4th quarter. Blue Trust Inc. now owns 3,368 shares of the company’s stock valued at $41,000 after buying an additional 2,233 shares during the period. Neo Ivy Capital Management acquired a new position in shares of Neogen in the 3rd quarter worth approximately $66,000. KBC Group NV lifted its stake 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 purchasing an additional 2,379 shares in the last quarter. Finally, Marco Investment Management LLC acquired a new position in Neogen during the 3rd quarter worth about $169,000. Institutional investors and hedge funds own 96.73% of the company’s stock.

Insiders Place Their Bets

In related news, CFO David H. Naemura purchased 14,800 shares of Neogen stock in a transaction that occurred on Thursday, January 16th. The shares were purchased 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 of the company’s stock, valued at approximately $682,531.74. The trade was a 31.74 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO John Edward Adent acquired 23,035 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was purchased at an average cost 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 $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. 1.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

NEOG has been the topic of a number of analyst reports. Guggenheim began 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. Piper Sandler reissued a “neutral” rating and issued a $13.00 price target (down from $16.50) on shares of Neogen in a research report on Tuesday, January 21st.

Neogen Stock Down 0.6 %

NEOG stock opened at $10.08 on Friday. The company has a market cap of $2.19 billion, a P/E ratio of -4.60 and a beta of 1.23. The company has a current ratio of 3.77, a quick ratio of 2.46 and a debt-to-equity ratio of 0.33. The company’s 50-day moving average price is $11.38 and its 200 day moving average price is $13.80. Neogen Co. has a 52 week low of $9.70 and a 52 week high of $18.58.

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

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.