Semanteon Capital Management LP Buys New Shares in Neogen Co. (NASDAQ:NEOG)

Semanteon Capital Management LP bought a new stake in shares of Neogen Co. (NASDAQ:NEOG) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 22,218 shares of the company’s stock, valued at approximately $373,000.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Neogen by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 19,715,974 shares of the company’s stock valued at $311,118,000 after purchasing an additional 169,237 shares during the last quarter. Select Equity Group L.P. increased its holdings in Neogen by 23.1% in the 2nd quarter. Select Equity Group L.P. now owns 15,530,439 shares of the company’s stock valued at $242,741,000 after buying an additional 2,914,893 shares during the period. William Blair Investment Management LLC increased its holdings in Neogen by 64.7% in the 2nd quarter. William Blair Investment Management LLC now owns 12,013,072 shares of the company’s stock valued at $187,764,000 after buying an additional 4,717,696 shares during the period. Baillie Gifford & Co. increased its holdings in Neogen by 42.3% in the 1st quarter. Baillie Gifford & Co. now owns 11,789,521 shares of the company’s stock valued at $186,039,000 after buying an additional 3,502,807 shares during the period. Finally, Bamco Inc. NY increased its holdings in Neogen by 10.3% in the 1st quarter. Bamco Inc. NY now owns 7,304,967 shares of the company’s stock valued at $115,272,000 after buying an additional 680,668 shares during the period. 96.73% of the stock is currently owned by institutional investors and hedge funds.

Neogen Stock Up 1.7 %

NEOG opened at $14.05 on Tuesday. The firm’s 50-day simple moving average is $15.71 and its 200-day simple moving average is $15.18. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.79 and a current ratio of 4.41. Neogen Co. has a twelve month low of $11.46 and a twelve month high of $20.89. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of -127.73 and a beta of 1.21.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings data on Thursday, October 10th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). Neogen had a positive return on equity of 2.80% and a negative net margin of 2.58%. The company had revenue of $217.00 million for the quarter, compared to the consensus estimate of $215.05 million. During the same period in the prior year, the company earned $0.11 EPS. The firm’s revenue was down 5.2% compared to the same quarter last year. Equities research analysts anticipate that Neogen Co. will post 0.52 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director James P. Tobin acquired 3,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were purchased at an average price of $16.86 per share, with a total value of $50,580.00. Following the acquisition, the director now directly owns 23,392 shares in the company, valued at $394,389.12. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. In other Neogen news, Director James P. Tobin bought 3,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were bought at an average cost of $16.86 per share, for a total transaction of $50,580.00. Following the transaction, the director now owns 23,392 shares in the company, valued at approximately $394,389.12. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John Edward Adent bought 14,500 shares of the business’s stock in a transaction on Friday, October 11th. The shares were acquired at an average price of $13.80 per share, for a total transaction of $200,100.00. Following the completion of the transaction, the chief executive officer now owns 216,477 shares in the company, valued at approximately $2,987,382.60. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NEOG. StockNews.com raised shares of Neogen to a “sell” rating in a report on Monday, September 30th. Piper Sandler upped their target price on shares of Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a report on Tuesday, August 6th.

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.