Sheets Smith Wealth Management Has $340,000 Stock Holdings in Neogen Co. (NASDAQ:NEOG)

Sheets Smith Wealth Management decreased its holdings in shares of Neogen Co. (NASDAQ:NEOG) by 9.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,978 shares of the company’s stock after selling 2,817 shares during the quarter. Sheets Smith Wealth Management’s holdings in Neogen were worth $340,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of NEOG. 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 during the last quarter. Neo Ivy Capital Management bought a new stake in shares of Neogen during the 3rd quarter worth about $66,000. Marco Investment Management LLC acquired a new position in shares of Neogen during the 3rd quarter valued at about $169,000. Avanza Fonder AB bought a new position in shares of Neogen in the 4th quarter valued at approximately $169,000. Finally, Raymond James Trust N.A. acquired a new stake in Neogen in the 3rd quarter worth approximately $182,000. Institutional investors own 96.73% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Guggenheim began coverage on Neogen in a report on Thursday, December 19th. They set a “buy” rating and a $15.00 price target on the stock. StockNews.com upgraded shares of Neogen to a “sell” rating in a research note on Monday, September 30th. Finally, Piper Sandler reissued a “neutral” rating and set a $13.00 target price (down previously from $16.50) on shares of Neogen in a research report on Tuesday.

Neogen Stock Performance

Shares of NASDAQ NEOG opened at $11.95 on Thursday. Neogen Co. has a 12 month low of $10.72 and a 12 month high of $18.58. The company has a market cap of $2.59 billion, a P/E ratio of -5.46 and a beta of 1.23. The business’s 50 day moving average is $12.91 and its two-hundred day moving average is $14.87. 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 announced its earnings results on Friday, January 10th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.12. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The business had revenue of $231.30 million for the quarter, compared to analyst estimates of $227.16 million. During the same quarter in the previous year, the firm posted $0.11 earnings per share. Neogen’s revenue was up .7% compared to the same quarter last year. On average, equities analysts expect that Neogen Co. will post 0.41 EPS for the current year.

Insider Activity

In other news, CEO John Edward Adent purchased 23,035 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were purchased at an average cost of $11.03 per share, for a total transaction of $254,076.05. Following the completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David H. Naemura acquired 14,800 shares of Neogen stock in a transaction on Thursday, January 16th. The stock was purchased at an average price of $11.11 per share, with a total value of $164,428.00. Following the transaction, the chief financial officer now directly owns 61,434 shares in the company, valued at approximately $682,531.74. This trade represents a 31.74 % increase in their position. The disclosure for this purchase can be found here. 1.13% of the stock is owned by company insiders.

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.