Malaga Cove Capital LLC Has $1.25 Million Holdings in Neogen Co. (NASDAQ:NEOG)

Malaga Cove Capital LLC boosted its position in Neogen Co. (NASDAQ:NEOG) by 15.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 102,934 shares of the company’s stock after acquiring an additional 14,143 shares during the quarter. Malaga Cove Capital LLC’s holdings in Neogen were worth $1,250,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of NEOG. Harbour Investments Inc. acquired a new position in Neogen in the 4th quarter valued at $27,000. Blue Trust Inc. grew its stake in Neogen by 196.7% in the 4th quarter. Blue Trust Inc. now owns 3,368 shares of the company’s stock valued at $41,000 after buying an additional 2,233 shares during the last quarter. Johnson Financial Group Inc. acquired a new position in Neogen in the 4th quarter valued at $43,000. Covestor Ltd grew its stake in Neogen by 41.4% in the 4th quarter. Covestor Ltd now owns 4,103 shares of the company’s stock valued at $50,000 after buying an additional 1,202 shares during the last quarter. Finally, KBC Group NV grew its stake in Neogen by 39.1% in the 4th quarter. KBC Group NV now owns 8,464 shares of the company’s stock valued at $103,000 after buying an additional 2,379 shares during the last quarter. 96.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NEOG. Piper Sandler lowered their target price on shares of Neogen from $6.40 to $5.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 22nd. Guggenheim lowered their target price on shares of Neogen from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th.

Insider Buying and Selling at Neogen

In related news, Director Aashima Gupta purchased 16,000 shares of Neogen stock in a transaction on Monday, May 12th. The stock was purchased at an average cost of $6.25 per share, with a total value of $100,000.00. Following the acquisition, the director now directly owns 21,917 shares in the company, valued at approximately $136,981.25. This trade represents a 270.41% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Amy M. Rocklin acquired 12,500 shares of Neogen stock in a transaction dated Wednesday, April 23rd. The shares were acquired at an average cost of $4.99 per share, with a total value of $62,375.00. Following the completion of the acquisition, the insider now directly owns 36,287 shares in the company, valued at $181,072.13. This trade represents a 52.55% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 83,500 shares of company stock valued at $431,525 in the last ninety days. Company insiders own 1.13% of the company’s stock.

Neogen Price Performance

Shares of Neogen stock opened at $6.49 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.77 and a quick ratio of 2.46. Neogen Co. has a fifty-two week low of $3.87 and a fifty-two week high of $18.58. The firm has a fifty day moving average price of $6.97 and a two-hundred day moving average price of $10.52. The company has a market cap of $1.41 billion, a PE ratio of -2.96 and a beta of 1.83.

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

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.