Semanteon Capital Management LP Increases Position in Neogen Co. (NASDAQ:NEOG)

Semanteon Capital Management LP raised its holdings in Neogen Co. (NASDAQ:NEOG) by 152.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 56,061 shares of the company’s stock after acquiring an additional 33,843 shares during the period. Semanteon Capital Management LP’s holdings in Neogen were worth $681,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Citigroup Inc. boosted its holdings in Neogen by 129.1% in the third quarter. Citigroup Inc. now owns 231,833 shares of the company’s stock valued at $3,897,000 after purchasing an additional 130,641 shares during the last quarter. American Capital Management Inc. boosted its holdings 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 during the last quarter. Private Advisor Group LLC boosted its holdings in Neogen by 135.3% in the fourth quarter. Private Advisor Group LLC now owns 67,298 shares of the company’s stock valued at $817,000 after purchasing an additional 38,703 shares during the last quarter. State Street Corp boosted its holdings in Neogen by 3.1% in the third quarter. State Street Corp now owns 7,932,192 shares of the company’s stock valued at $133,340,000 after purchasing an additional 236,762 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Neogen by 17.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,166 shares of the company’s stock valued at $642,000 after purchasing an additional 5,804 shares during the last quarter. 96.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NEOG has been the topic of several recent research reports. Piper Sandler reaffirmed a “neutral” rating and issued a $13.00 price target (down from $16.50) on shares of Neogen in a report on Tuesday, January 21st. Guggenheim began coverage on shares of Neogen in a research report on Thursday, December 19th. They issued a “buy” rating and a $15.00 price objective for the company.

Neogen Trading Down 1.3 %

Shares of Neogen stock opened at $8.85 on Friday. The firm has a 50-day simple moving average of $10.46 and a two-hundred day simple moving average of $13.01. The company has a market cap of $1.92 billion, a P/E ratio of -4.04 and a beta of 1.27. Neogen Co. has a fifty-two week low of $8.60 and a fifty-two week high of $18.58. 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 (NASDAQ:NEOG) last released its quarterly earnings results on Friday, January 10th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $231.30 million during the quarter, compared to the consensus estimate of $227.16 million. During the same quarter in the prior year, the firm earned $0.11 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. As a group, equities analysts predict that Neogen Co. will post 0.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO David H. Naemura purchased 14,800 shares of Neogen stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 61,434 shares in the company, valued at approximately $682,531.74. This trade represents a 31.74 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John Edward Adent purchased 23,035 shares of Neogen stock in a transaction that occurred on Thursday, January 16th. The shares were bought at an average price of $11.03 per share, with a total value of $254,076.05. Following the transaction, the chief executive officer now owns 269,164 shares in the company, valued at approximately $2,968,878.92. The trade was a 9.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.13% of the company’s stock.

Neogen Company 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.