Neogen Co. (NASDAQ:NEOG) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. trimmed its holdings in Neogen Co. (NASDAQ:NEOG) by 36.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,188 shares of the company’s stock after selling 7,035 shares during the quarter. QRG Capital Management Inc.’s holdings in Neogen were worth $148,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Citigroup Inc. lifted its stake in Neogen by 129.1% during the third quarter. Citigroup Inc. now owns 231,833 shares of the company’s stock valued at $3,897,000 after buying an additional 130,641 shares in the last quarter. American Capital Management Inc. lifted its stake in Neogen by 36.5% during the third quarter. American Capital Management Inc. now owns 3,414,700 shares of the company’s stock valued at $57,401,000 after buying an additional 913,604 shares in the last quarter. Private Advisor Group LLC lifted its stake in Neogen by 135.3% during the fourth quarter. Private Advisor Group LLC now owns 67,298 shares of the company’s stock valued at $817,000 after buying an additional 38,703 shares in the last quarter. State Street Corp lifted its stake in Neogen by 3.1% during the third quarter. State Street Corp now owns 7,932,192 shares of the company’s stock valued at $133,340,000 after buying an additional 236,762 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Neogen by 17.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,166 shares of the company’s stock valued at $642,000 after buying an additional 5,804 shares in the last quarter. 96.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other 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 purchased at an average price of $11.03 per share, for a total transaction of $254,076.05. Following the completion of the acquisition, the chief executive officer now owns 269,164 shares of the company’s stock, valued at approximately $2,968,878.92. This represents a 9.36 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David H. Naemura acquired 14,800 shares of the company’s stock in a transaction that occurred on 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 acquisition, the chief financial officer now directly owns 61,434 shares of the company’s stock, valued at $682,531.74. The trade was a 31.74 % increase in their position. The disclosure for this purchase can be found here. 1.13% of the stock is currently owned by corporate insiders.

Neogen Price Performance

Shares of NEOG opened at $10.40 on Friday. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of -4.75 and a beta of 1.27. Neogen Co. has a fifty-two week low of $9.01 and a fifty-two week 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 business’s 50-day moving average is $11.13 and its 200-day moving average is $13.57.

Neogen (NASDAQ:NEOG) last issued its earnings results on Friday, January 10th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.12. The company had revenue of $231.30 million for 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%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 EPS. Equities research analysts expect that Neogen Co. will post 0.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented 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 note on Tuesday, January 21st. Guggenheim assumed coverage on Neogen in a report on Thursday, December 19th. They issued a “buy” rating and a $15.00 target price on the stock.

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.