Shapiro Capital Management LLC Buys 949,300 Shares of Neogen Co. (NASDAQ:NEOG)

Shapiro Capital Management LLC boosted its stake in shares of Neogen Co. (NASDAQ:NEOG - Free Report) by 47.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,932,850 shares of the company's stock after acquiring an additional 949,300 shares during the quarter. Shapiro Capital Management LLC owned about 1.35% of Neogen worth $35,605,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Silvercrest Asset Management Group LLC boosted its position in shares of Neogen by 4.0% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,371,528 shares of the company's stock valued at $16,650,000 after buying an additional 52,124 shares during the period. ProShare Advisors LLC boosted its position in shares of Neogen by 39.6% during 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 during the period. Malaga Cove Capital LLC boosted its position in shares of Neogen by 15.9% during 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 during the period. Nomura Holdings Inc. purchased a new position in shares of Neogen during the fourth quarter valued at approximately $317,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Neogen by 4.0% during 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 during the period. 96.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NEOG has been the subject of several recent analyst reports. Guggenheim dropped their target price on Neogen from $15.00 to $13.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Piper Sandler dropped their target price on Neogen from $6.40 to $5.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd.

Neogen Stock Up 2.8%

Shares of NASDAQ NEOG opened at $6.56 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.46 and a current ratio of 3.77. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of -3.00 and a beta of 1.83. The stock has a 50 day moving average price of $6.82 and a 200 day moving average price of $10.44. Neogen Co. has a 52-week low of $3.87 and a 52-week high of $18.58.

Neogen (NASDAQ:NEOG - Get Free Report) last posted its earnings results on Wednesday, April 9th. The company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.02). The company had revenue of $221.00 million for 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 quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.12 EPS. Sell-side analysts expect that Neogen Co. will post 0.38 earnings per share for the current year.

Insiders Place Their Bets

In other Neogen news, insider Amy M. Rocklin purchased 12,500 shares of Neogen stock in a transaction dated Wednesday, April 23rd. The shares were acquired at an average cost of $4.99 per share, with a total value of $62,375.00. Following the completion of the transaction, the insider now owns 36,287 shares in the company, valued at approximately $181,072.13. This trade represents a 52.55% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Aashima Gupta purchased 16,000 shares of Neogen stock in a transaction dated Monday, May 12th. The shares were acquired at an average cost of $6.25 per share, for a total transaction of $100,000.00. Following the completion of the transaction, the director now owns 21,917 shares of the company's stock, valued at approximately $136,981.25. This represents a 270.41% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 83,500 shares of company stock worth $431,525 over the last 90 days. Company insiders own 1.13% of the company's stock.

About Neogen

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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