Rodgers Brothers Inc. Cuts Stock Holdings in Neogen Co. (NASDAQ:NEOG)

Rodgers Brothers Inc. reduced its stake in Neogen Co. (NASDAQ:NEOG) by 13.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,374 shares of the company’s stock after selling 4,500 shares during the period. Rodgers Brothers Inc.’s holdings in Neogen were worth $357,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Harbour Investments Inc. acquired a new position in Neogen during the 4th quarter worth approximately $27,000. Blue Trust Inc. lifted its position in shares of Neogen by 196.7% during the 4th quarter. Blue Trust Inc. now owns 3,368 shares of the company’s stock worth $41,000 after purchasing an additional 2,233 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of Neogen during the third quarter worth $66,000. KBC Group NV increased its holdings in Neogen by 39.1% in the fourth quarter. KBC Group NV now owns 8,464 shares of the company’s stock valued at $103,000 after buying an additional 2,379 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its stake in Neogen by 4,955.8% in the fourth quarter. Brown Brothers Harriman & Co. now owns 10,415 shares of the company’s stock valued at $126,000 after buying an additional 10,209 shares in the last quarter. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

Neogen Stock Performance

NASDAQ NEOG opened at $8.67 on Tuesday. The company has a fifty day moving average of $10.08 and a two-hundred day moving average of $12.67. The company has a market capitalization of $1.88 billion, a PE ratio of -3.96 and a beta of 1.27. Neogen Co. has a 1 year low of $8.31 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.

Neogen (NASDAQ:NEOG) last announced its earnings results on Friday, January 10th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during 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 business’s revenue was up .7% on a year-over-year basis. As a group, analysts expect that Neogen Co. will post 0.38 earnings per share for the current year.

Analysts Set New Price Targets

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

Insider Activity at Neogen

In related news, CFO David H. Naemura bought 14,800 shares of the stock in a transaction on Thursday, January 16th. The shares were bought at an average cost of $11.11 per share, for a total transaction of $164,428.00. Following the purchase, the chief financial officer now 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 acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO John Edward Adent purchased 23,035 shares of the business’s 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 purchase, the chief executive officer now directly owns 269,164 shares of the company’s stock, valued at approximately $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 owned by insiders.

About Neogen

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.