Rhumbline Advisers acquired a new position in Neogen Co. (NASDAQ:NEOG – Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 707,893 shares of the company’s stock, valued at approximately $13,110,000. Rhumbline Advisers owned 0.33% of Neogen as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Brown Advisory Inc. acquired a new stake in shares of Neogen during the 1st quarter valued at $1,987,000. Russell Investments Group Ltd. acquired a new stake in shares of Neogen during the 1st quarter valued at $1,142,000. Bell Bank acquired a new stake in shares of Neogen during the 1st quarter valued at $215,000. Wade G W & Inc. acquired a new stake in shares of Neogen during the 1st quarter valued at $228,000. Finally, Premier Fund Managers Ltd acquired a new stake in shares of Neogen during the 1st quarter valued at $510,000. Institutional investors and hedge funds own 96.73% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on the stock. StockNews.com assumed coverage on shares of Neogen in a report on Thursday, August 17th. They set a “sell” rating on the stock. Piper Sandler raised their price target on shares of Neogen from $19.00 to $24.00 in a report on Monday, August 7th. Finally, Wells Fargo & Company raised their price target on shares of Neogen from $22.00 to $28.00 and gave the company an “overweight” rating in a report on Monday, August 14th.
Neogen Stock Performance
Shares of NEOG opened at $23.33 on Friday. The company has a market capitalization of $5.05 billion, a PE ratio of -333.29 and a beta of 1.06. Neogen Co. has a one year low of $10.49 and a one year high of $24.09. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.03 and a quick ratio of 3.11. The company’s fifty day moving average price is $22.41 and its 200 day moving average price is $19.60.
Neogen (NASDAQ:NEOG – Get Free Report) last announced its earnings results on Thursday, July 27th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.03 by $0.11. The firm had revenue of $241.80 million for the quarter, compared to the consensus estimate of $227.72 million. Neogen had a negative net margin of 2.78% and a positive return on equity of 4.06%. The business’s quarterly revenue was up 71.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 EPS. As a group, analysts expect that Neogen Co. will post 0.6 earnings per share for the current year.
Insider Buying and Selling
In other Neogen news, Director William T. Boehm sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $22.59, for a total value of $33,885.00. Following the completion of the transaction, the director now owns 24,509 shares of the company’s stock, valued at approximately $553,658.31. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.73% 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.
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