Stevens Capital Management LP Purchases New Shares in Neogen Co. (NASDAQ:NEOG)

Stevens Capital Management LP acquired a new position in Neogen Co. (NASDAQ:NEOG) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 16,611 shares of the company’s stock, valued at approximately $202,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NEOG. Citigroup Inc. boosted its holdings in Neogen by 129.1% in the third quarter. Citigroup Inc. now owns 231,833 shares of the company’s stock worth $3,897,000 after acquiring an additional 130,641 shares in the last quarter. American Capital Management Inc. boosted its stake in Neogen by 36.5% in the 3rd quarter. American Capital Management Inc. now owns 3,414,700 shares of the company’s stock worth $57,401,000 after purchasing an additional 913,604 shares in the last quarter. Private Advisor Group LLC grew its position in Neogen by 135.3% during the 4th quarter. Private Advisor Group LLC now owns 67,298 shares of the company’s stock valued at $817,000 after purchasing an additional 38,703 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Neogen by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,061,927 shares of the company’s stock valued at $25,032,000 after purchasing an additional 52,663 shares in the last quarter. Finally, State Street Corp raised its holdings in Neogen by 3.1% in the third quarter. State Street Corp now owns 7,932,192 shares of the company’s stock worth $133,340,000 after buying an additional 236,762 shares during the last quarter. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Analysts Set New Price Targets

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

Neogen Stock Down 4.6 %

NEOG opened at $8.45 on Wednesday. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of -3.86 and a beta of 1.27. The firm has a 50 day moving average price of $10.31 and a 200-day moving average price of $12.86. Neogen Co. has a twelve month low of $8.44 and a twelve month 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.

Neogen (NASDAQ:NEOG) last released its quarterly earnings results 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. Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. The firm had revenue of $231.30 million for the quarter, compared to analysts’ expectations of $227.16 million. During the same period in the prior year, the firm earned $0.11 EPS. The company’s revenue was up .7% compared to the same quarter last year. Equities research analysts forecast that Neogen Co. will post 0.38 earnings per share for the current year.

Insiders Place Their Bets

In other Neogen news, CEO John Edward Adent acquired 23,035 shares of the company’s stock in a transaction that occurred on 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 acquisition, the chief executive officer now owns 269,164 shares in the company, valued at $2,968,878.92. This represents a 9.36 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David H. Naemura bought 14,800 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were acquired at an average price of $11.11 per share, with a total value of $164,428.00. Following the completion of the transaction, 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 position. The disclosure for this purchase can be found here. Insiders own 1.13% of the company’s 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.