Neogen Co. (NASDAQ:NEOG) Shares Purchased by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC boosted its position in Neogen Co. (NASDAQ:NEOG - Free Report) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,371,528 shares of the company's stock after purchasing an additional 52,124 shares during the period. Silvercrest Asset Management Group LLC owned about 0.63% of Neogen worth $16,650,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. ProShare Advisors LLC increased its holdings in Neogen by 39.6% in the fourth quarter. ProShare Advisors LLC now owns 73,087 shares of the company's stock valued at $887,000 after buying an additional 20,719 shares in the last quarter. Malaga Cove Capital LLC increased its holdings in Neogen by 15.9% in the fourth quarter. Malaga Cove Capital LLC now owns 102,934 shares of the company's stock valued at $1,250,000 after buying an additional 14,143 shares in the last quarter. Nomura Holdings Inc. purchased a new position in Neogen in the fourth quarter valued at about $317,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Neogen by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 124,175 shares of the company's stock valued at $1,507,000 after buying an additional 4,746 shares in the last quarter. Finally, Focus Partners Wealth purchased a new position in Neogen in the fourth quarter valued at about $342,000. Institutional investors and hedge funds own 96.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research 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 research note on Thursday, April 10th. Piper Sandler dropped 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 Trading Up 0.8%

Shares of NEOG opened at $6.61 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.77 and a quick ratio of 2.46. The firm has a 50 day simple moving average of $6.75 and a 200-day simple moving average of $10.38. Neogen Co. has a 1-year low of $3.87 and a 1-year high of $18.58. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -3.02 and a beta of 1.83.

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

Insiders Place Their Bets

In other news, Director James P. Tobin bought 10,000 shares of the stock in a transaction on Tuesday, April 22nd. The stock was purchased at an average cost of $4.73 per share, with a total value of $47,300.00. Following the purchase, the director now owns 37,474 shares of the company's stock, valued at approximately $177,252.02. The trade was a 36.40% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Aashima Gupta bought 16,000 shares of the stock in a transaction on Monday, May 12th. The stock was purchased 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 directly owns 21,917 shares in the company, valued at $136,981.25. This trade represents a 270.41% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 83,500 shares of company stock valued at $431,525. Company insiders own 1.13% of the company's stock.

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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