Xponance Inc. Has $372,000 Stock Holdings in Neogen Co. (NASDAQ:NEOG)

Xponance Inc. boosted its holdings in shares of Neogen Co. (NASDAQ:NEOG) by 8.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,627 shares of the company’s stock after buying an additional 2,468 shares during the period. Xponance Inc.’s holdings in Neogen were worth $372,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. William Blair Investment Management LLC increased its holdings in shares of Neogen by 8.1% in the 4th quarter. William Blair Investment Management LLC now owns 14,346,759 shares of the company’s stock valued at $174,170,000 after purchasing an additional 1,074,825 shares during the period. Cibc World Markets Corp purchased a new position in Neogen during the fourth quarter valued at approximately $248,000. Nicholas Company Inc. increased its stake in Neogen by 4.1% in the 4th quarter. Nicholas Company Inc. now owns 432,098 shares of the company’s stock valued at $5,246,000 after buying an additional 17,134 shares during the period. Harbour Investments Inc. purchased a new stake in Neogen in the 4th quarter worth approximately $27,000. Finally, Commonwealth Equity Services LLC boosted its stake in shares of Neogen by 6.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 39,263 shares of the company’s stock valued at $477,000 after buying an additional 2,267 shares during the period. 96.73% of the stock is owned by hedge funds and other institutional investors.

Neogen Stock Performance

NEOG stock opened at $8.43 on Thursday. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of -3.85 and a beta of 1.27. The firm has a 50 day moving average of $10.25 and a two-hundred day moving average of $12.83. The company has a quick ratio of 2.46, a current ratio of 3.77 and a debt-to-equity ratio of 0.33. Neogen Co. has a 12 month low of $8.31 and a 12 month high of $18.58.

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

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Piper Sandler reiterated 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. Guggenheim initiated coverage on Neogen in a report on Thursday, December 19th. They set a “buy” rating and a $15.00 price target for the company.

Insider Activity at Neogen

In other news, CFO David H. Naemura bought 14,800 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were purchased at an average price of $11.11 per share, for a total transaction of $164,428.00. Following the acquisition, the chief financial officer now directly owns 61,434 shares of the company’s stock, valued at $682,531.74. The trade was a 31.74 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO John Edward Adent bought 23,035 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were purchased at an average cost 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. 1.13% of the stock is owned by company 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.