Napatree Capital LLC Sells 4,634 Shares of Neogen Co. (NASDAQ:NEOG)

Napatree Capital LLC trimmed its stake in Neogen Co. (NASDAQ:NEOG) by 11.4% in the fourth quarter, Holdings Channel reports. The firm owned 36,088 shares of the company’s stock after selling 4,634 shares during the quarter. Napatree Capital LLC’s holdings in Neogen were worth $438,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Citigroup Inc. grew its stake in shares of Neogen by 129.1% in 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. grew its position in shares of Neogen by 36.5% in the 3rd quarter. American Capital Management Inc. now owns 3,414,700 shares of the company’s stock valued at $57,401,000 after acquiring an additional 913,604 shares during the period. Private Advisor Group LLC increased its stake in shares of Neogen by 135.3% during the 4th quarter. Private Advisor Group LLC now owns 67,298 shares of the company’s stock worth $817,000 after purchasing an additional 38,703 shares during the last quarter. State Street Corp lifted its stake in Neogen by 3.1% in the 3rd quarter. State Street Corp now owns 7,932,192 shares of the company’s stock valued at $133,340,000 after purchasing an additional 236,762 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Neogen by 17.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,166 shares of the company’s stock worth $642,000 after purchasing an additional 5,804 shares during the period. Institutional investors and hedge funds own 96.73% of the company’s stock.

Analysts Set New Price Targets

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

Neogen Price Performance

Neogen stock opened at $8.85 on Friday. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of -4.04 and a beta of 1.27. The company has a current ratio of 3.77, a quick ratio of 2.46 and a debt-to-equity ratio of 0.33. Neogen Co. has a 12 month low of $8.60 and a 12 month high of $18.58. The stock’s 50 day moving average is $10.46 and its 200-day moving average is $12.98.

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

Insiders Place Their Bets

In related news, CEO John Edward Adent bought 23,035 shares of Neogen stock in a transaction dated Thursday, January 16th. The shares were bought at an average cost of $11.03 per share, with a total value of $254,076.05. Following the acquisition, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO David H. Naemura purchased 14,800 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was bought at an average cost of $11.11 per share, with a total value 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 represents a 31.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate 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.