Headlands Technologies LLC Acquires New Position in Neogen Co. (NASDAQ:NEOG)

Headlands Technologies LLC acquired a new position in shares of Neogen Co. (NASDAQ:NEOG) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 14,478 shares of the company’s stock, valued at approximately $176,000.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Neogen during the 4th quarter worth approximately $212,171,000. Vanguard Group Inc. increased its position in Neogen by 9.8% in the fourth quarter. Vanguard Group Inc. now owns 21,637,251 shares of the company’s stock worth $262,676,000 after buying an additional 1,928,491 shares during the period. William Blair Investment Management LLC lifted its stake in Neogen by 8.1% in the fourth quarter. William Blair Investment Management LLC now owns 14,346,759 shares of the company’s stock valued at $174,170,000 after buying an additional 1,074,825 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Neogen by 55.0% during the fourth quarter. American Century Companies Inc. now owns 2,606,043 shares of the company’s stock valued at $31,637,000 after acquiring an additional 924,571 shares during the period. Finally, Pictet Asset Management Holding SA grew its position in shares of Neogen by 26.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,369,595 shares of the company’s stock worth $28,767,000 after acquiring an additional 501,957 shares during the last quarter. Institutional investors own 96.73% of the company’s stock.

Neogen Trading Down 4.1 %

NASDAQ:NEOG opened at $7.80 on Friday. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of -3.56 and a beta of 1.57. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.46 and a current ratio of 3.77. Neogen Co. has a 1 year low of $7.68 and a 1 year high of $18.58. The business has a fifty day moving average of $9.80 and a 200-day moving average of $12.47.

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 negative net margin of 52.12% and a positive return on equity of 2.89%. The firm had revenue of $231.30 million during the quarter, compared to analyst estimates of $227.16 million. During the same quarter in the prior year, the firm posted $0.11 EPS. Neogen’s revenue was up .7% compared to the same quarter last year. Equities analysts predict that Neogen Co. will post 0.38 earnings per share for the current year.

Insider Activity at Neogen

In other news, CEO John Edward Adent bought 23,035 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was acquired at an average price of $11.03 per share, with a total value 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 $2,968,878.92. This represents a 9.36 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO David H. Naemura purchased 14,800 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was acquired at an average price of $11.11 per share, for a total transaction of $164,428.00. Following the completion of the transaction, 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 position. The disclosure for this purchase can be found here. Company insiders own 1.13% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on NEOG. Guggenheim initiated coverage on shares of Neogen in a research report on Thursday, December 19th. They issued a “buy” rating and a $15.00 price objective on the stock. Piper Sandler restated a “neutral” rating and issued a $13.00 price target (down previously from $16.50) on shares of Neogen in a research note on Tuesday, January 21st.

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.