Diversified Trust Co Buys 12,545 Shares of Neogen Co. (NASDAQ:NEOG)

Diversified Trust Co raised its stake in Neogen Co. (NASDAQ:NEOG) by 22.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,485 shares of the company’s stock after acquiring an additional 12,545 shares during the quarter. Diversified Trust Co’s holdings in Neogen were worth $1,168,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Inspire Investing LLC lifted its holdings in shares of Neogen by 2.7% in the second quarter. Inspire Investing LLC now owns 26,074 shares of the company’s stock worth $408,000 after acquiring an additional 685 shares during the last quarter. Northwest Investment Counselors LLC raised its holdings in Neogen by 1.1% in the 1st quarter. Northwest Investment Counselors LLC now owns 71,621 shares of the company’s stock valued at $1,130,000 after buying an additional 809 shares during the last quarter. Bessemer Group Inc. raised its holdings in Neogen by 1.2% in the 1st quarter. Bessemer Group Inc. now owns 73,920 shares of the company’s stock valued at $1,166,000 after buying an additional 851 shares during the last quarter. Retirement Systems of Alabama raised its holdings in Neogen by 0.4% in the 1st quarter. Retirement Systems of Alabama now owns 247,423 shares of the company’s stock valued at $3,904,000 after buying an additional 889 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in Neogen by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 57,609 shares of the company’s stock valued at $900,000 after buying an additional 1,079 shares during the last quarter. Institutional investors own 96.73% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on NEOG shares. StockNews.com upgraded shares of Neogen to a “sell” rating in a report on Monday, September 30th. Piper Sandler increased their target price on shares of Neogen from $17.00 to $17.50 and gave the company a “neutral” rating in a research report on Tuesday, August 6th.

Insider Transactions at Neogen

In related news, Director James P. Tobin acquired 3,000 shares of Neogen stock in a transaction dated Tuesday, August 6th. The stock was bought at an average price of $16.86 per share, with a total value of $50,580.00. Following the transaction, the director now directly owns 23,392 shares in the company, valued at $394,389.12. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.71% of the company’s stock.

Neogen Stock Performance

NASDAQ:NEOG opened at $14.69 on Wednesday. The company has a market capitalization of $3.18 billion, a PE ratio of 1,469.00 and a beta of 1.21. The company has a 50 day simple moving average of $16.37 and a two-hundred day simple moving average of $15.21. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.59 and a current ratio of 3.82. Neogen Co. has a fifty-two week low of $11.46 and a fifty-two week high of $20.89.

Neogen (NASDAQ:NEOG) last released its earnings results on Tuesday, July 30th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). The firm had revenue of $236.80 million for the quarter, compared to analyst estimates of $225.83 million. Neogen had a negative net margin of 1.02% and a positive return on equity of 3.09%. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.14 EPS. Research analysts anticipate that Neogen Co. will post 0.54 earnings per share 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.