Neogen Co. (NASDAQ:NEOG) Shares Purchased by Kennedy Capital Management LLC

Kennedy Capital Management LLC increased its position in shares of Neogen Co. (NASDAQ:NEOG - Free Report) by 14.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 507,596 shares of the company's stock after acquiring an additional 64,358 shares during the quarter. Kennedy Capital Management LLC owned about 0.23% of Neogen worth $6,162,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of NEOG. Harbour Investments Inc. acquired a new position in shares of Neogen in the 4th quarter valued at about $27,000. Blue Trust Inc. lifted its stake in Neogen by 196.7% in 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. Neo Ivy Capital Management acquired a new position in Neogen during the third quarter worth $66,000. KBC Group NV increased its position in Neogen by 39.1% during the fourth quarter. KBC Group NV now owns 8,464 shares of the company's stock worth $103,000 after purchasing an additional 2,379 shares during the last quarter. Finally, Brown Brothers Harriman & Co. grew its position in Neogen by 4,955.8% in the fourth quarter. Brown Brothers Harriman & Co. now owns 10,415 shares of the company's stock worth $126,000 after acquiring an additional 10,209 shares during the period. Institutional investors and hedge funds own 96.73% of the company's stock.

Neogen Price Performance

Shares of NEOG traded down $0.22 on Thursday, reaching $4.39. The stock had a trading volume of 6,085,915 shares, compared to its average volume of 2,615,867. The company has a quick ratio of 2.46, a current ratio of 3.77 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $951.30 million, a PE ratio of -2.01 and a beta of 1.57. Neogen Co. has a twelve month low of $3.87 and a twelve month high of $18.58. The firm has a 50-day moving average of $8.74 and a 200 day moving average of $11.76.

Neogen (NASDAQ:NEOG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 9th. The company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.12 by ($0.02). Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. The firm had revenue of $221.00 million for the quarter, compared to analysts' expectations of $225.27 million. During the same quarter last year, the firm earned $0.12 earnings per share. The business's quarterly revenue was down 3.4% compared to the same quarter last year. Sell-side analysts expect that Neogen Co. will post 0.38 EPS for the current year.

Wall Street Analyst Weigh In

NEOG has been the topic of several research analyst reports. Piper Sandler cut their price objective on Neogen from $13.00 to $6.50 and set a "neutral" rating on the stock in a report on Monday. Guggenheim dropped their price objective on Neogen from $15.00 to $13.00 and set a "buy" rating on the stock in a report on Thursday, April 10th.

Insider Buying and Selling

In other Neogen news, CAO John Patrick Moylan bought 10,000 shares of the business's stock in a transaction on Thursday, April 10th. The shares were bought at an average cost of $5.07 per share, with a total value of $50,700.00. Following the transaction, the chief accounting officer now directly owns 10,000 shares in the company, valued at approximately $50,700. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.13% of the stock is owned by corporate insiders.

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.