Somerset Trust Co purchased a new stake in Neogen Co. (NASDAQ:NEOG – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 20,116 shares of the company’s stock, valued at approximately $438,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. IFP Advisors Inc purchased a new stake in Neogen in the first quarter valued at $57,000. Park Place Capital Corp purchased a new position in shares of Neogen during the first quarter worth about $25,000. AdvisorNet Financial Inc acquired a new position in Neogen in the 1st quarter valued at about $25,000. Steward Partners Investment Advisory LLC acquired a new position in Neogen in the 1st quarter valued at about $29,000. Finally, Lindbrook Capital LLC purchased a new stake in Neogen during the 1st quarter valued at approximately $29,000. 96.73% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have commented on NEOG. StockNews.com raised Neogen from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Piper Sandler upped their price objective on Neogen from $19.00 to $24.00 in a research note on Monday, August 7th. Finally, Wells Fargo & Company upped their price objective on Neogen from $22.00 to $28.00 and gave the company an “overweight” rating in a research note on Monday, August 14th.
Neogen Stock Performance
Shares of NEOG stock traded down $0.22 during trading hours on Friday, reaching $21.10. 293,360 shares of the company’s stock were exchanged, compared to its average volume of 1,705,885. The company has a market cap of $4.56 billion, a P/E ratio of -304.57 and a beta of 1.04. The company’s 50 day moving average is $22.36 and its two-hundred day moving average is $19.70. Neogen Co. has a 1 year low of $10.49 and a 1 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.
Neogen (NASDAQ:NEOG – Get Free Report) last issued its earnings results on Thursday, July 27th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.11. The business had revenue of $241.80 million during the quarter, compared to the consensus estimate of $227.72 million. Neogen had a positive return on equity of 4.06% and a negative net margin of 2.78%. The company’s revenue for the quarter was up 71.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.18 EPS. Equities research analysts anticipate that Neogen Co. will post 0.6 EPS for the current fiscal year.
Insider Activity at Neogen
In related news, Director William T. Boehm sold 1,500 shares of the firm’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 directly owns 24,509 shares of the company’s stock, valued at approximately $553,658.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.73% of the stock is currently owned by company insiders.
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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