Yousif Capital Management LLC Acquires 2,769 Shares of Neogen Corporation (NASDAQ:NEOG)

Yousif Capital Management LLC raised its holdings in shares of Neogen Corporation (NASDAQ:NEOG) by 3.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 74,508 shares of the company’s stock after purchasing an additional 2,769 shares during the quarter. Yousif Capital Management LLC’s holdings in Neogen were worth $646,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in NEOG. Vanguard Group Inc. grew its stake in 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 purchasing an additional 1,928,491 shares during the last quarter. Norges Bank acquired a new position in Neogen in the fourth quarter valued at approximately $212,171,000. William Blair Investment Management LLC lifted its holdings in Neogen by 8.1% in 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 during the period. Bamco Inc. NY lifted its holdings in Neogen by 16.2% in the fourth quarter. Bamco Inc. NY now owns 8,485,308 shares of the company’s stock valued at $103,012,000 after acquiring an additional 1,182,193 shares during the period. Finally, Mackenzie Financial Corp raised its stake in shares of Neogen by 5.7% during the 4th quarter. Mackenzie Financial Corp now owns 7,826,349 shares of the company’s stock worth $95,012,000 after buying an additional 423,923 shares during the period. 96.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on NEOG. Guggenheim reduced their price objective on Neogen from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Piper Sandler cut their price objective on shares of Neogen from $6.40 to $5.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd.

Neogen Price Performance

Shares of NASDAQ NEOG opened at $4.94 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.45 and a current ratio of 3.91. Neogen Corporation has a fifty-two week low of $3.87 and a fifty-two week high of $18.58. The firm has a market capitalization of $1.07 billion, a PE ratio of -2.22 and a beta of 1.84. The stock’s 50-day simple moving average is $5.57 and its 200-day simple moving average is $8.81.

Neogen (NASDAQ:NEOG) last released its quarterly earnings results on Wednesday, April 9th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.02). The firm had revenue of $221.00 million for the quarter, compared to analyst estimates of $225.27 million. Neogen had a positive return on equity of 2.69% and a negative net margin of 53.56%. The company’s quarterly revenue was down 3.4% on a year-over-year basis. During the same period last year, the firm earned $0.12 EPS. As a group, equities research analysts forecast that Neogen Corporation will post 0.38 EPS for the current fiscal year.

Insider Activity

In other news, Director Aashima Gupta bought 16,000 shares of the firm’s stock in a transaction dated Monday, May 12th. The stock was bought at an average price of $6.25 per share, for a total transaction of $100,000.00. Following the transaction, the director now owns 21,917 shares in the company, valued at $136,981.25. The trade was a 270.41% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James P. Tobin acquired 10,000 shares of Neogen stock in a transaction that occurred on Tuesday, April 22nd. The shares were bought at an average price of $4.73 per share, with a total value of $47,300.00. Following the transaction, the director now directly owns 37,474 shares in the company, valued at approximately $177,252.02. This trade represents a 36.40% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 83,500 shares of company stock worth $431,525 over the last three months. 1.13% of the stock is currently owned by corporate insiders.

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.