100,000 Shares in Neogen Corporation (NASDAQ:NEOG) Acquired by Highlander Partners L.P.

Highlander Partners L.P. bought a new position in shares of Neogen Corporation (NASDAQ:NEOG - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 100,000 shares of the company's stock, valued at approximately $867,000. Neogen accounts for about 0.5% of Highlander Partners L.P.'s holdings, making the stock its 19th largest position.

Other large investors have also recently added to or reduced their stakes in the company. Harbour Investments Inc. acquired a new position in shares of Neogen in the 4th quarter valued at $27,000. Versant Capital Management Inc lifted its stake in shares of Neogen by 1,495.4% in the 1st quarter. Versant Capital Management Inc now owns 3,127 shares of the company's stock worth $27,000 after acquiring an additional 2,931 shares during the period. Johnson Financial Group Inc. acquired a new stake in shares of Neogen in the 4th quarter worth $43,000. Covestor Ltd lifted its stake in shares of Neogen by 41.4% in the 4th quarter. Covestor Ltd now owns 4,103 shares of the company's stock worth $50,000 after acquiring an additional 1,202 shares during the period. Finally, KBC Group NV lifted its stake in shares of Neogen by 44.1% in the 1st quarter. KBC Group NV now owns 12,198 shares of the company's stock worth $106,000 after acquiring an additional 3,734 shares during the period. 96.73% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Neogen

In other news, Director James C. Borel purchased 35,000 shares of the stock in a transaction dated Thursday, April 24th. The stock was acquired at an average cost of $4.89 per share, for a total transaction of $171,150.00. Following the completion of the acquisition, the director directly owned 60,474 shares in the company, valued at $295,717.86. This represents a 137.39% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Aashima Gupta bought 16,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was bought at an average price of $6.25 per share, with a total value of $100,000.00. Following the completion of the acquisition, the director owned 21,917 shares of the company's stock, valued at $136,981.25. This trade represents a 270.41% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 63,500 shares of company stock worth $333,525 over the last ninety days. 1.13% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

NEOG has been the subject of several recent analyst reports. Guggenheim reduced their target price on shares of Neogen from $13.00 to $10.00 and set a "buy" rating for the company in a research note on Monday, June 30th. Piper Sandler reduced their price objective on shares of Neogen from $6.40 to $5.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd.

Neogen Price Performance

NEOG traded up $0.13 during midday trading on Tuesday, reaching $4.91. 587,839 shares of the company's stock were exchanged, compared to its average volume of 3,638,103. The stock has a market capitalization of $1.06 billion, a PE ratio of -2.21 and a beta of 1.77. Neogen Corporation has a 1-year low of $3.87 and a 1-year high of $18.58. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.91 and a quick ratio of 2.45. The business's 50-day moving average price is $5.52 and its 200 day moving average price is $7.74.

Neogen 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.

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