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

Semanteon Capital Management LP grew its stake in shares of Neogen Co. (NASDAQ:NEOG) by 152.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. William Blair Investment Management LLC raised its stake in shares of Neogen by 8.1% during the fourth quarter. William Blair Investment Management LLC now owns 14,346,759 shares of the company’s stock valued at $174,170,000 after acquiring an additional 1,074,825 shares in the last quarter. State Street Corp raised its stake in shares of Neogen by 3.1% during the third quarter. State Street Corp now owns 7,932,192 shares of the company’s stock valued at $133,340,000 after acquiring an additional 236,762 shares in the last quarter. Bamco Inc. NY raised its stake in shares of Neogen by 1.4% during the third quarter. Bamco Inc. NY now owns 7,303,115 shares of the company’s stock valued at $122,765,000 after acquiring an additional 98,067 shares in the last quarter. Champlain Investment Partners LLC raised its stake in shares of Neogen by 10.7% during the third quarter. Champlain Investment Partners LLC now owns 7,110,530 shares of the company’s stock valued at $119,528,000 after acquiring an additional 690,029 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Neogen by 0.4% during the third quarter. Geode Capital Management LLC now owns 5,148,388 shares of the company’s stock valued at $86,559,000 after acquiring an additional 20,387 shares in the last quarter. Institutional investors own 96.73% of the company’s stock.

Analysts Set New Price Targets

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

Neogen Stock Performance

Shares of NASDAQ:NEOG opened at $8.85 on Friday. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of -4.04 and a beta of 1.27. Neogen Co. has a 52 week low of $8.60 and a 52 week high of $18.58. The company has a quick ratio of 2.46, a current ratio of 3.77 and a debt-to-equity ratio of 0.33. The firm has a 50 day moving average of $10.46 and a 200 day moving average of $13.01.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $227.16 million. During the same quarter in the previous year, the firm posted $0.11 earnings per share. Neogen’s revenue for the quarter was up .7% compared to the same quarter last year. On average, sell-side analysts predict that Neogen Co. will post 0.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO David H. Naemura purchased 14,800 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were acquired at an average cost of $11.11 per share, with a total value of $164,428.00. Following the completion of the acquisition, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO John Edward Adent acquired 23,035 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were bought at an average cost of $11.03 per share, for a total transaction of $254,076.05. Following the completion of the acquisition, the chief executive officer now directly owns 269,164 shares of the company’s stock, 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. Corporate insiders own 1.13% of the company’s 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.