Mariner LLC Sells 4,594 Shares of Neogen Co. (NASDAQ:NEOG)

Mariner LLC trimmed its stake in Neogen Co. (NASDAQ:NEOG) by 6.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,065 shares of the company’s stock after selling 4,594 shares during the quarter. Mariner LLC’s holdings in Neogen were worth $838,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Neogen during the 4th quarter worth approximately $212,171,000. Vanguard Group Inc. boosted its stake in shares of Neogen by 9.8% during the 4th quarter. Vanguard Group Inc. now owns 21,637,251 shares of the company’s stock worth $262,676,000 after acquiring an additional 1,928,491 shares during the period. Private Advisor Group LLC boosted its stake in shares of Neogen by 135.3% during the 4th quarter. Private Advisor Group LLC now owns 67,298 shares of the company’s stock worth $817,000 after acquiring an additional 38,703 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Neogen by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,061,927 shares of the company’s stock worth $25,032,000 after acquiring an additional 52,663 shares during the period. Finally, Pictet Asset Management Holding SA lifted its holdings in Neogen by 26.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,369,595 shares of the company’s stock worth $28,767,000 after purchasing an additional 501,957 shares during the last quarter. 96.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Neogen

In other Neogen news, Director James C. Borel purchased 35,000 shares of the firm’s stock in a transaction dated Thursday, April 24th. The shares were bought at an average price of $4.89 per share, for a total transaction of $171,150.00. Following the purchase, the director now owns 60,474 shares in the company, valued at approximately $295,717.86. This trade represents a 137.39 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO John Patrick Moylan purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, April 10th. The stock was acquired at an average price of $5.07 per share, for a total transaction of $50,700.00. Following the purchase, the chief accounting officer now owns 10,000 shares in the company, valued at approximately $50,700. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders purchased 67,500 shares of company stock valued at $331,525 in the last three months. Corporate insiders own 1.13% of the company’s stock.

Neogen Price Performance

Shares of NASDAQ NEOG opened at $5.14 on Tuesday. The stock has a market capitalization of $1.12 billion, a PE ratio of -2.35 and a beta of 1.57. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.77 and a quick ratio of 2.46. The business has a fifty day moving average price of $7.90 and a two-hundred day moving average price of $11.14. Neogen Co. has a fifty-two week low of $3.87 and a fifty-two week high of $18.58.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings data on Wednesday, April 9th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.02). The company had revenue of $221.00 million during the quarter, compared to analyst estimates of $225.27 million. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. Neogen’s revenue was down 3.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.12 earnings per share. As a group, equities analysts predict that Neogen Co. will post 0.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Piper Sandler dropped their price target on Neogen from $6.40 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, April 22nd. Guggenheim dropped their price target on Neogen from $15.00 to $13.00 and set a “buy” rating for the company in a report on Thursday, April 10th.

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.