Wrapmanager Inc. Cuts Holdings in Neogen Co. (NASDAQ:NEOG)

Wrapmanager Inc. trimmed its position in Neogen Co. (NASDAQ:NEOG) by 20.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 17,007 shares of the company’s stock after selling 4,401 shares during the period. Wrapmanager Inc.’s holdings in Neogen were worth $206,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hardy Reed LLC bought a new position in shares of Neogen in the fourth quarter valued at approximately $133,000. Handelsbanken Fonder AB boosted its position in Neogen by 10.0% in the fourth quarter. Handelsbanken Fonder AB now owns 70,664 shares of the company’s stock worth $858,000 after purchasing an additional 6,400 shares during the last quarter. Private Advisor Group LLC grew its stake in Neogen by 135.3% in 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 period. Peregrine Capital Management LLC increased its position in shares of Neogen by 1.8% during the 4th quarter. Peregrine Capital Management LLC now owns 583,444 shares of the company’s stock valued at $7,083,000 after purchasing an additional 10,470 shares during the last quarter. Finally, Truist Financial Corp raised its stake in shares of Neogen by 11.2% during the 4th quarter. Truist Financial Corp now owns 102,926 shares of the company’s stock worth $1,250,000 after purchasing an additional 10,394 shares during the period. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Neogen Stock Performance

Shares of NEOG opened at $10.30 on Wednesday. Neogen Co. has a 1 year low of $9.70 and a 1 year high of $18.58. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.77 and a quick ratio of 2.46. The stock’s fifty day moving average price is $11.45 and its two-hundred day moving average price is $13.85. The firm has a market cap of $2.23 billion, a PE ratio of -4.70 and a beta of 1.23.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings data 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 analyst estimates of $227.16 million. Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the firm posted $0.11 EPS. On average, equities research analysts forecast that Neogen Co. will post 0.38 EPS for the current year.

Insider Activity

In related news, CEO John Edward Adent purchased 23,035 shares of Neogen stock in a transaction dated Thursday, January 16th. The stock was bought at an average cost of $11.03 per share, for a total transaction 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. This trade represents a 9.36 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David H. Naemura acquired 14,800 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were bought at an average price of $11.11 per share, for a total transaction of $164,428.00. Following the completion of the purchase, the chief financial officer now owns 61,434 shares in the company, 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.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on NEOG shares. 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 report on Tuesday, January 21st. Guggenheim assumed coverage on shares of Neogen in a research report on Thursday, December 19th. They set a “buy” rating and a $15.00 target price for the company.

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.