Rhumbline Advisers Acquires 4,890 Shares of Neogen Co. (NASDAQ:NEOG)

Rhumbline Advisers boosted its holdings in Neogen Co. (NASDAQ:NEOG) by 0.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 699,490 shares of the company’s stock after purchasing an additional 4,890 shares during the quarter. Rhumbline Advisers owned 0.32% of Neogen worth $8,492,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Bank Pictet & Cie Europe AG raised its position in shares of Neogen by 6.5% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 132,000 shares of the company’s stock valued at $1,602,000 after buying an additional 8,000 shares in the last quarter. Blue Trust Inc. raised its holdings in Neogen by 247.6% in the 4th quarter. Blue Trust Inc. now owns 3,945 shares of the company’s stock valued at $48,000 after acquiring an additional 2,810 shares in the last quarter. Values First Advisors Inc. lifted its position in shares of Neogen by 77.7% during the 4th quarter. Values First Advisors Inc. now owns 28,692 shares of the company’s stock valued at $348,000 after acquiring an additional 12,545 shares during the period. Stephens Investment Management Group LLC grew its holdings in shares of Neogen by 1.4% during the 4th quarter. Stephens Investment Management Group LLC now owns 2,642,726 shares of the company’s stock worth $32,083,000 after purchasing an additional 36,605 shares in the last quarter. Finally, American Capital Advisory LLC increased its position in shares of Neogen by 291.6% in the fourth quarter. American Capital Advisory LLC now owns 53,213 shares of the company’s stock worth $646,000 after purchasing an additional 39,623 shares during the period. Institutional investors own 96.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on NEOG shares. Guggenheim began coverage on shares of Neogen in a research report on Thursday, December 19th. They set a “buy” rating and a $15.00 price objective for the company. Piper Sandler reaffirmed a “neutral” rating and set a $13.00 price target (down previously from $16.50) on shares of Neogen in a report on Tuesday, January 21st.

Insiders Place Their Bets

In other news, CEO John Edward Adent acquired 23,035 shares of the stock in a transaction dated Thursday, January 16th. The stock was bought at an average price of $11.03 per share, with a total value of $254,076.05. Following the completion of the purchase, the chief executive officer now directly owns 269,164 shares of the company’s stock, valued at $2,968,878.92. This represents a 9.36 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David H. Naemura bought 14,800 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were acquired at an average price of $11.11 per share, for a total transaction of $164,428.00. Following the completion of the transaction, the chief financial officer now owns 61,434 shares in the company, valued at $682,531.74. This trade represents a 31.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.13% of the company’s stock.

Neogen Stock Performance

NASDAQ:NEOG opened at $10.42 on Tuesday. Neogen Co. has a twelve month low of $9.70 and a twelve month high of $18.58. The company has a quick ratio of 2.46, a current ratio of 3.77 and a debt-to-equity ratio of 0.33. The stock’s 50-day simple moving average is $11.49 and its 200 day simple moving average is $13.90. The firm has a market capitalization of $2.26 billion, a PE ratio of -4.76 and a beta of 1.23.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings results on Friday, January 10th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.12. The company had revenue of $231.30 million for the quarter, compared to the consensus estimate of $227.16 million. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the company posted $0.11 EPS. On average, analysts anticipate that Neogen Co. will post 0.38 EPS for the current fiscal year.

About Neogen

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.