Stevens Capital Management LP Buys Shares of 16,611 Neogen Co. (NASDAQ:NEOG)

Stevens Capital Management LP purchased a new position in Neogen Co. (NASDAQ:NEOG) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,611 shares of the company’s stock, valued at approximately $202,000.

A number of other large investors also recently modified their holdings of NEOG. Fred Alger Management LLC increased its stake in Neogen by 86.5% in the 3rd quarter. Fred Alger Management LLC now owns 3,986,744 shares of the company’s stock worth $67,017,000 after acquiring an additional 1,849,427 shares during the last quarter. William Blair Investment Management LLC increased its position in shares of Neogen by 8.1% in the fourth quarter. William Blair Investment Management LLC now owns 14,346,759 shares of the company’s stock worth $174,170,000 after purchasing an additional 1,074,825 shares during the last quarter. American Century Companies Inc. raised its stake in Neogen by 55.0% in the fourth quarter. American Century Companies Inc. now owns 2,606,043 shares of the company’s stock valued at $31,637,000 after purchasing an additional 924,571 shares in the last quarter. American Capital Management Inc. raised its stake in Neogen by 36.5% in the third quarter. American Capital Management Inc. now owns 3,414,700 shares of the company’s stock valued at $57,401,000 after purchasing an additional 913,604 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in Neogen by 32.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 1,303,465 shares of the company’s stock valued at $15,824,000 after purchasing an additional 316,457 shares during the last quarter. 96.73% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO David H. Naemura acquired 14,800 shares of the stock in a transaction on Thursday, January 16th. The stock was purchased at an average price of $11.11 per share, for a total transaction of $164,428.00. Following the completion of the transaction, the chief financial officer now owns 61,434 shares of the company’s stock, valued at $682,531.74. This trade represents a 31.74 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John Edward Adent bought 23,035 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was purchased at an average cost of $11.03 per share, for a total transaction of $254,076.05. Following the completion of the purchase, the chief executive officer now owns 269,164 shares of the company’s stock, valued at $2,968,878.92. This trade represents a 9.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.13% of the stock is currently owned by corporate insiders.

Neogen Trading Down 4.6 %

NEOG stock opened at $8.45 on Wednesday. The company has a market capitalization of $1.83 billion, a PE ratio of -3.86 and a beta of 1.27. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.46 and a current ratio of 3.77. Neogen Co. has a one year low of $8.44 and a one year high of $18.58. The company’s 50 day moving average price is $10.31 and its two-hundred day moving average price is $12.86.

Neogen (NASDAQ:NEOG) last issued its earnings results on Friday, January 10th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.12. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The company had revenue of $231.30 million for the quarter, compared to analysts’ expectations of $227.16 million. During the same quarter last year, the company earned $0.11 EPS. The firm’s revenue was up .7% compared to the same quarter last year. As a group, analysts predict that Neogen Co. will post 0.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.