Moody National Bank Trust Division Takes $161,000 Position in Neogen Co. (NASDAQ:NEOG)

Moody National Bank Trust Division bought a new stake in shares of Neogen Co. (NASDAQ:NEOG) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 10,172 shares of the company’s stock, valued at approximately $161,000.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Neogen by 9.3% in the 4th quarter. Vanguard Group Inc. now owns 19,546,737 shares of the company’s stock valued at $393,085,000 after acquiring an additional 1,663,125 shares during the last quarter. Norges Bank bought a new position in Neogen in the 4th quarter valued at $365,794,000. Baillie Gifford & Co. bought a new position in Neogen in the 4th quarter valued at $166,646,000. Conestoga Capital Advisors LLC grew its position in Neogen by 4.0% in the 4th quarter. Conestoga Capital Advisors LLC now owns 6,817,600 shares of the company’s stock valued at $137,102,000 after acquiring an additional 265,075 shares during the last quarter. Finally, King Luther Capital Management Corp grew its position in Neogen by 1.2% in the 4th quarter. King Luther Capital Management Corp now owns 6,000,856 shares of the company’s stock valued at $120,677,000 after acquiring an additional 70,296 shares during the last quarter. Institutional investors own 96.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler dropped their price target on Neogen from $19.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, April 15th.

Neogen Price Performance

NEOG opened at $16.84 on Thursday. The firm has a market capitalization of $3.65 billion, a PE ratio of 1,685.69 and a beta of 1.19. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.82 and a quick ratio of 2.66. The business’s 50-day moving average is $13.61 and its two-hundred day moving average is $15.89. Neogen Co. has a 1 year low of $11.46 and a 1 year high of $24.09.

Neogen (NASDAQ:NEOG) last released its quarterly earnings results on Tuesday, April 9th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.02). Neogen had a return on equity of 3.35% and a net margin of 0.17%. The firm had revenue of $228.80 million during the quarter, compared to analysts’ expectations of $230.01 million. During the same period in the prior year, the firm posted $0.12 earnings per share. Neogen’s revenue for the quarter was up 4.8% compared to the same quarter last year. Research analysts anticipate that Neogen Co. will post 0.46 earnings per share for the current fiscal year.

Insider Activity

In other Neogen news, Director James C. Borel acquired 7,500 shares of the firm’s stock in a transaction dated Thursday, April 11th. The stock was purchased at an average price of $13.06 per share, for a total transaction of $97,950.00. Following the acquisition, the director now owns 21,392 shares in the company, valued at approximately $279,379.52. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO John Edward Adent bought 23,000 shares of Neogen stock in a transaction that occurred on Wednesday, April 10th. The stock was bought at an average price of $12.36 per share, for a total transaction of $284,280.00. Following the purchase, the chief executive officer now directly owns 152,389 shares of the company’s stock, valued at approximately $1,883,528.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James C. Borel bought 7,500 shares of Neogen stock in a transaction that occurred on Thursday, April 11th. The stock was purchased at an average price of $13.06 per share, with a total value of $97,950.00. Following the purchase, the director now directly owns 21,392 shares in the company, valued at $279,379.52. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 53,000 shares of company stock worth $662,205. Insiders own 0.71% of the company’s stock.

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.