Brown Brothers Harriman & Co. Buys 10,209 Shares of Neogen Co. (NASDAQ:NEOG)

Brown Brothers Harriman & Co. lifted its position in Neogen Co. (NASDAQ:NEOG) by 4,955.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 10,415 shares of the company’s stock after purchasing an additional 10,209 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Neogen were worth $126,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Harbour Investments Inc. bought a new stake in Neogen during the fourth quarter worth about $27,000. Blue Trust Inc. boosted its holdings in shares of Neogen by 196.7% in the 4th quarter. Blue Trust Inc. now owns 3,368 shares of the company’s stock worth $41,000 after acquiring an additional 2,233 shares in the last quarter. Neo Ivy Capital Management bought a new stake in Neogen during the 3rd quarter worth approximately $66,000. KBC Group NV increased its holdings in Neogen by 39.1% during the 4th quarter. KBC Group NV now owns 8,464 shares of the company’s stock valued at $103,000 after purchasing an additional 2,379 shares in the last quarter. Finally, Hardy Reed LLC acquired a new stake in Neogen during the 4th quarter valued at $133,000. Institutional investors and hedge funds own 96.73% of the company’s stock.

Insider Buying and Selling at Neogen

In related news, CEO John Edward Adent purchased 23,035 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were bought at an average price 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 in the company, valued at $2,968,878.92. This trade represents a 9.36 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CFO David H. Naemura acquired 14,800 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were bought at an average cost of $11.11 per share, with a total value of $164,428.00. Following the completion of the purchase, 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 disclosure for this purchase can be found here. Insiders own 1.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on NEOG shares. Piper Sandler restated a “neutral” rating and set a $13.00 target price (down previously from $16.50) on shares of Neogen in a report on Tuesday, January 21st. Guggenheim began coverage on shares of Neogen in a report on Thursday, December 19th. They set a “buy” rating and a $15.00 price objective on the stock.

Neogen Stock Down 3.2 %

NASDAQ NEOG opened at $8.39 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.46 and a current ratio of 3.77. Neogen Co. has a 52 week low of $8.04 and a 52 week high of $18.58. The stock has a market capitalization of $1.82 billion, a P/E ratio of -3.83 and a beta of 1.27. The stock has a fifty day moving average of $10.02 and a 200-day moving average of $12.62.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings data on Friday, January 10th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.12. The firm had revenue of $231.30 million during the quarter, compared to analysts’ expectations of $227.16 million. Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.11 EPS. On average, equities research analysts forecast that Neogen Co. will post 0.38 EPS for the current year.

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.