Squarepoint Ops LLC Acquires New Shares in Neogen Co. (NASDAQ:NEOG)

Squarepoint Ops LLC purchased a new stake in Neogen Co. (NASDAQ:NEOG - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 69,159 shares of the company's stock, valued at approximately $840,000.

Several other hedge funds have also recently bought and sold shares of NEOG. Harbour Investments Inc. acquired a new stake in shares of Neogen in the 4th quarter valued at $27,000. Blue Trust Inc. increased its position in shares of Neogen by 196.7% during the 4th quarter. Blue Trust Inc. now owns 3,368 shares of the company's stock worth $41,000 after purchasing an additional 2,233 shares in the last quarter. Johnson Financial Group Inc. bought a new position in Neogen during the 4th quarter valued at about $43,000. Covestor Ltd boosted its position in Neogen by 41.4% in the fourth quarter. Covestor Ltd now owns 4,103 shares of the company's stock valued at $50,000 after buying an additional 1,202 shares in the last quarter. Finally, KBC Group NV boosted its position in Neogen by 39.1% in the fourth quarter. KBC Group NV now owns 8,464 shares of the company's stock valued at $103,000 after buying an additional 2,379 shares in the last quarter. 96.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Guggenheim dropped their price objective on shares of Neogen from $15.00 to $13.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Piper Sandler decreased their price target on Neogen from $6.40 to $5.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd.

Insider Activity at Neogen

In other news, Director James C. Borel purchased 35,000 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The shares were acquired at an average price of $4.89 per share, for a total transaction of $171,150.00. Following the completion of the acquisition, the director now directly owns 60,474 shares in the company, valued at approximately $295,717.86. The trade was a 137.39% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Aashima Gupta purchased 16,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were acquired at an average cost of $6.25 per share, with a total value of $100,000.00. Following the completion of the purchase, the director now owns 21,917 shares of the company's stock, valued at $136,981.25. The trade was a 270.41% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 83,500 shares of company stock valued at $431,525 over the last quarter. Corporate insiders own 1.13% of the company's stock.

Neogen Price Performance

Shares of Neogen stock traded up $0.31 during trading on Tuesday, reaching $6.00. The company's stock had a trading volume of 3,532,614 shares, compared to its average volume of 3,084,253. The stock has a 50-day moving average price of $6.11 and a two-hundred day moving average price of $9.62. The stock has a market capitalization of $1.30 billion, a P/E ratio of -2.74 and a beta of 1.83. 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 one year low of $3.87 and a one year high of $18.58.

Neogen (NASDAQ:NEOG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 9th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.02). Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The company had revenue of $221.00 million during the quarter, compared to analyst estimates of $225.27 million. During the same quarter in the previous year, the business posted $0.12 EPS. The company's revenue was down 3.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Neogen Co. will post 0.38 EPS for the current fiscal year.

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.