Raymond James Financial Inc. Acquires Shares of 226,030 Neogen Co. (NASDAQ:NEOG)

Raymond James Financial Inc. bought a new position in shares of Neogen Co. (NASDAQ:NEOG) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 226,030 shares of the company’s stock, valued at approximately $2,744,000. Raymond James Financial Inc. owned 0.10% of Neogen as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NEOG. Blue Trust Inc. raised its holdings in Neogen by 196.7% during the fourth quarter. Blue Trust Inc. now owns 3,368 shares of the company’s stock worth $41,000 after buying an additional 2,233 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Neogen in the 3rd quarter worth about $66,000. KBC Group NV lifted its position 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 acquiring an additional 2,379 shares in the last quarter. Raymond James Trust N.A. acquired a new position in Neogen during the 3rd quarter valued at about $182,000. Finally, Hardy Reed LLC bought a new stake in Neogen during the 4th quarter worth approximately $133,000. 96.73% of the stock is currently owned by institutional investors.

Neogen Trading Down 3.6 %

NASDAQ:NEOG opened at $8.64 on Friday. Neogen Co. has a 52 week low of $8.31 and a 52 week high of $18.58. The firm has a 50-day moving average price of $10.14 and a two-hundred day moving average price of $12.76. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.46 and a current ratio of 3.77. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of -3.95 and a beta of 1.27.

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on NEOG shares. Guggenheim assumed coverage on Neogen in a report on Thursday, December 19th. They issued a “buy” rating and a $15.00 target price on the stock. Piper Sandler restated a “neutral” rating and set a $13.00 price objective (down from $16.50) on shares of Neogen in a research note on Tuesday, January 21st.

Insider Activity

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

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.