Neogen Co. (NASDAQ:NEOG) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. decreased its holdings in shares of Neogen Co. (NASDAQ:NEOG) by 5.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 330,236 shares of the company’s stock after selling 18,146 shares during the period. Corebridge Financial Inc. owned approximately 0.15% of Neogen worth $4,009,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Neogen by 9.8% in the fourth quarter. Vanguard Group Inc. now owns 21,637,251 shares of the company’s stock valued at $262,676,000 after buying an additional 1,928,491 shares in the last quarter. William Blair Investment Management LLC grew its stake in shares of Neogen by 8.1% during the 4th 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 period. American Century Companies Inc. increased its holdings in shares of Neogen by 55.0% in the 4th 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. increased its holdings in shares of Neogen by 36.5% in the 3rd 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. boosted its holdings in Neogen by 32.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 1,303,465 shares of the company’s stock worth $15,824,000 after buying an additional 316,457 shares in the last quarter. Institutional investors and hedge funds own 96.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NEOG shares. Guggenheim started coverage on shares of Neogen in a research report on Thursday, December 19th. They set a “buy” rating and a $15.00 price target for the company. Piper Sandler reaffirmed a “neutral” rating and set a $13.00 price objective (down from $16.50) on shares of Neogen in a report on Tuesday, January 21st.

Neogen Stock Performance

NASDAQ:NEOG opened at $8.64 on Monday. The company has a current ratio of 3.77, a quick ratio of 2.46 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $1.87 billion, a P/E ratio of -3.95 and a beta of 1.27. The firm has a 50-day moving average price of $10.14 and a two-hundred day moving average price of $12.72. Neogen Co. has a twelve month low of $8.31 and a twelve month high of $18.58.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings data on Friday, January 10th. The company reported $0.11 earnings per share 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 business had revenue of $231.30 million during the quarter, compared to analysts’ expectations of $227.16 million. During the same period last year, the company posted $0.11 EPS. The company’s revenue was up .7% on a year-over-year basis. As a group, research analysts expect that Neogen Co. will post 0.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO John Edward Adent purchased 23,035 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were bought at an average cost of $11.03 per share, with a total value of $254,076.05. Following the purchase, the chief executive officer now directly owns 269,164 shares of the company’s stock, valued at approximately $2,968,878.92. This trade represents a 9.36 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David H. Naemura acquired 14,800 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was purchased at an average cost 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 of the company’s stock, valued at approximately $682,531.74. The trade was a 31.74 % 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 company insiders.

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.