Susquehanna Fundamental Investments LLC Buys Shares of 79,400 Neogen Co. (NASDAQ:NEOG)

Susquehanna Fundamental Investments LLC bought a new stake in Neogen Co. (NASDAQ:NEOG - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 79,400 shares of the company's stock, valued at approximately $964,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Neogen in the 4th quarter valued at approximately $212,171,000. Clarkston Capital Partners LLC bought a new position in shares of Neogen in the 4th quarter valued at about $34,801,000. Vanguard Group Inc. increased its stake in shares of Neogen by 9.8% during the 4th quarter. Vanguard Group Inc. now owns 21,637,251 shares of the company's stock worth $262,676,000 after purchasing an additional 1,928,491 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of Neogen by 27.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,114,702 shares of the company's stock valued at $86,373,000 after purchasing an additional 1,521,560 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Neogen by 24.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,939,984 shares of the company's stock valued at $84,254,000 after purchasing an additional 1,345,056 shares during the last quarter. Institutional investors own 96.73% of the company's stock.

Neogen Stock Performance

NEOG stock traded up $0.07 during mid-day trading on Wednesday, hitting $5.56. 1,092,572 shares of the company were exchanged, compared to its average volume of 2,875,626. Neogen Co. has a 1-year low of $3.87 and a 1-year high of $18.58. The stock has a market capitalization of $1.21 billion, a PE ratio of -2.54 and a beta of 1.83. The business has a 50 day simple moving average of $7.32 and a 200-day simple moving average of $10.78. 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 (NASDAQ:NEOG - Get Free Report) last released its quarterly earnings results on Wednesday, April 9th. The company reported $0.10 earnings per share (EPS) 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 firm had revenue of $221.00 million during the quarter, compared to the consensus estimate of $225.27 million. During the same quarter last year, the firm earned $0.12 earnings per share. The business's revenue for the quarter was down 3.4% compared to the same quarter last year. On average, equities analysts forecast that Neogen Co. will post 0.38 earnings per share for the current year.

Insiders Place Their Bets

In other Neogen news, Director James P. Tobin purchased 10,000 shares of the company's stock in a transaction dated Tuesday, April 22nd. The stock was bought at an average cost of $4.73 per share, for a total transaction of $47,300.00. Following the completion of the transaction, the director now owns 37,474 shares in the company, valued at approximately $177,252.02. This represents a 36.40 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director James C. Borel acquired 35,000 shares of the stock in a transaction on Thursday, April 24th. The shares were bought at an average price of $4.89 per share, for a total transaction of $171,150.00. Following the purchase, the director now owns 60,474 shares in the company, valued at approximately $295,717.86. This trade represents a 137.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 67,500 shares of company stock worth $331,525 in the last quarter. 1.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on NEOG shares. Piper Sandler lowered 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. Guggenheim cut their price target on Neogen from $15.00 to $13.00 and set a "buy" rating for the company in a report on Thursday, April 10th.

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.