Neogen Co. (NASDAQ:NEOG) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC reduced its holdings in shares of Neogen Co. (NASDAQ:NEOG) by 4.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,739 shares of the company’s stock after selling 3,378 shares during the quarter. Yousif Capital Management LLC’s holdings in Neogen were worth $871,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James & Associates increased its stake in shares of Neogen by 21.5% during the 3rd quarter. Raymond James & Associates now owns 250,342 shares of the company’s stock worth $4,208,000 after purchasing an additional 44,339 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Neogen by 142.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company’s stock worth $33,000 after buying an additional 1,165 shares in the last quarter. Bank Pictet & Cie Europe AG raised its holdings in shares of Neogen by 3.6% in the third quarter. Bank Pictet & Cie Europe AG now owns 124,000 shares of the company’s stock worth $2,084,000 after acquiring an additional 4,350 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Neogen by 1,581.0% in the third quarter. International Assets Investment Management LLC now owns 11,666 shares of the company’s stock valued at $196,000 after acquiring an additional 10,972 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its position in shares of Neogen by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 22,810 shares of the company’s stock valued at $383,000 after acquiring an additional 1,550 shares in the last quarter. Institutional investors and hedge funds own 96.73% of the company’s stock.

Analyst Upgrades and Downgrades

NEOG has been the subject of several analyst reports. Piper Sandler reissued a “neutral” rating and issued a $13.00 target price (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 price objective for the company.

Insiders Place Their Bets

In other news, CEO John Edward Adent purchased 23,035 shares of the stock in a transaction on Thursday, January 16th. The stock was purchased 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. The trade was a 9.36 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David H. Naemura acquired 14,800 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was purchased at an average price of $11.11 per share, for a total transaction of $164,428.00. Following the completion of the acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. 1.13% of the stock is currently owned by insiders.

Neogen Price Performance

Shares of NASDAQ:NEOG opened at $9.83 on Friday. The company has a market cap of $2.13 billion, a P/E ratio of -4.49 and a beta of 1.23. The business has a fifty day simple moving average of $11.78 and a 200-day simple moving average of $14.19. Neogen Co. has a 52 week low of $9.70 and a 52 week 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 posted its quarterly earnings results on Friday, January 10th. The company reported $0.11 EPS 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 company had revenue of $231.30 million during the quarter, compared to analysts’ expectations of $227.16 million. During the same quarter in the previous year, the business earned $0.11 EPS. The firm’s revenue was up .7% on a year-over-year basis. Equities research analysts forecast that Neogen Co. will post 0.38 EPS for the current year.

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.