Nomura Holdings Inc. Makes New Investment in Neogen Co. (NASDAQ:NEOG)

Nomura Holdings Inc. acquired a new position in shares of Neogen Co. (NASDAQ:NEOG) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 26,112 shares of the company’s stock, valued at approximately $317,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Neogen by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 124,175 shares of the company’s stock worth $1,507,000 after buying an additional 4,746 shares during the period. Focus Partners Wealth bought a new position in shares of Neogen during the fourth quarter valued at approximately $342,000. Fred Alger Management LLC grew its stake in shares of Neogen by 5.8% during the fourth quarter. Fred Alger Management LLC now owns 4,219,834 shares of the company’s stock valued at $51,229,000 after buying an additional 233,090 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Neogen by 52.9% during the fourth quarter. Deutsche Bank AG now owns 188,609 shares of the company’s stock valued at $2,290,000 after buying an additional 65,293 shares during the last quarter. Finally, Bamco Inc. NY grew its stake in shares of Neogen by 16.2% during the fourth quarter. Bamco Inc. NY now owns 8,485,308 shares of the company’s stock valued at $103,012,000 after buying an additional 1,182,193 shares during the last quarter. 96.73% of the stock is owned by hedge funds and other institutional investors.

Neogen Stock Down 0.5%

Shares of NEOG opened at $6.19 on Friday. The company has a current ratio of 3.77, a quick ratio of 2.46 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $1.34 billion, a P/E ratio of -2.83 and a beta of 1.83. The firm has a fifty day moving average price of $6.51 and a 200-day moving average price of $10.16. Neogen Co. has a 12-month low of $3.87 and a 12-month high of $18.58.

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Neogen news, Director James C. Borel acquired 35,000 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was bought at an average cost of $4.89 per share, with a total value of $171,150.00. Following the completion of the purchase, the director now directly owns 60,474 shares in the company, valued at $295,717.86. The trade was a 137.39% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Amy M. Rocklin bought 12,500 shares of the stock in a transaction on Wednesday, April 23rd. The shares were bought at an average price of $4.99 per share, with a total value of $62,375.00. Following the acquisition, the insider now owns 36,287 shares of the company’s stock, valued at $181,072.13. This trade represents a 52.55% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 83,500 shares of company stock valued at $431,525 over the last three months. 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.