Nicholas Company Inc. Acquires 17,134 Shares of Neogen Co. (NASDAQ:NEOG)

Nicholas Company Inc. boosted its holdings in Neogen Co. (NASDAQ:NEOG) by 4.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 432,098 shares of the company’s stock after purchasing an additional 17,134 shares during the period. Nicholas Company Inc.’s holdings in Neogen were worth $5,246,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the business. State Street Corp increased its position in Neogen by 3.1% in the 3rd quarter. State Street Corp now owns 7,932,192 shares of the company’s stock worth $133,340,000 after buying an additional 236,762 shares during the period. Bamco Inc. NY increased its position in Neogen by 1.4% in the 3rd quarter. Bamco Inc. NY now owns 7,303,115 shares of the company’s stock worth $122,765,000 after buying an additional 98,067 shares during the period. Champlain Investment Partners LLC increased its position in Neogen by 10.7% in the 3rd quarter. Champlain Investment Partners LLC now owns 7,110,530 shares of the company’s stock worth $119,528,000 after buying an additional 690,029 shares during the period. Geode Capital Management LLC grew its holdings in shares of Neogen by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 5,148,388 shares of the company’s stock worth $86,559,000 after purchasing an additional 20,387 shares in the last quarter. Finally, Fred Alger Management LLC grew its holdings in shares of Neogen by 86.5% during the 3rd quarter. Fred Alger Management LLC now owns 3,986,744 shares of the company’s stock worth $67,017,000 after purchasing an additional 1,849,427 shares in the last quarter. 96.73% of the stock is owned by institutional investors.

Neogen Price Performance

Shares of NEOG stock opened at $9.05 on Friday. The stock’s fifty day simple moving average is $10.83 and its 200 day simple moving average is $13.26. 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 market cap of $1.96 billion, a price-to-earnings ratio of -4.13 and a beta of 1.27. Neogen Co. has a one year low of $9.01 and a one year high of $18.58.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings results on Friday, January 10th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.12. The business had revenue of $231.30 million for the quarter, compared to analyst estimates of $227.16 million. Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. Neogen’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.11 EPS. On average, analysts expect that Neogen Co. will post 0.38 earnings per share for the current fiscal year.

Insider Activity at Neogen

In other Neogen news, CEO John Edward Adent acquired 23,035 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was purchased at an average price of $11.03 per share, for a total transaction of $254,076.05. Following the transaction, the chief executive officer now owns 269,164 shares in the company, valued at $2,968,878.92. This trade represents a 9.36 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David H. Naemura acquired 14,800 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was acquired at an average price of $11.11 per share, with a total value of $164,428.00. Following the transaction, the chief financial officer now owns 61,434 shares in the company, valued at approximately $682,531.74. The trade was a 31.74 % increase in their position. The disclosure for this purchase can be found here. 1.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NEOG. Piper Sandler reissued a “neutral” rating and set a $13.00 price objective (down previously from $16.50) on shares of Neogen in a report on Tuesday, January 21st. Guggenheim began coverage on Neogen in a report on Thursday, December 19th. They set a “buy” rating and a $15.00 price objective on the 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.