Neogen Co. (NASDAQ:NEOG) Shares Bought by OLD National Bancorp IN

OLD National Bancorp IN boosted its stake in shares of Neogen Co. (NASDAQ:NEOG) by 28.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,400 shares of the company’s stock after acquiring an additional 3,605 shares during the quarter. OLD National Bancorp IN’s holdings in Neogen were worth $330,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in NEOG. Allspring Global Investments Holdings LLC lifted its position in Neogen by 416.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,033 shares of the company’s stock worth $56,000 after acquiring an additional 2,446 shares during the period. C M Bidwell & Associates Ltd. acquired a new stake in Neogen during the 3rd quarter worth approximately $151,000. Fifth Third Bancorp raised its stake in shares of Neogen by 10.7% during the 3rd quarter. Fifth Third Bancorp now owns 9,967 shares of the company’s stock worth $185,000 after buying an additional 966 shares in the last quarter. Savant Capital LLC raised its stake in shares of Neogen by 9.4% during the 3rd quarter. Savant Capital LLC now owns 10,320 shares of the company’s stock worth $191,000 after buying an additional 889 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in shares of Neogen during the 3rd quarter worth approximately $201,000. 96.73% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, COO Douglas Edward Jones purchased 10,000 shares of the company’s stock in a transaction on Wednesday, April 17th. The stock was bought at an average price of $12.36 per share, with a total value of $123,600.00. Following the completion of the transaction, the chief operating officer now owns 46,131 shares of the company’s stock, valued at approximately $570,179.16. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO John Edward Adent purchased 23,000 shares of the company’s stock in a transaction on Wednesday, April 10th. The stock was bought at an average price of $12.36 per share, with a total value of $284,280.00. Following the completion of the transaction, the chief executive officer now owns 152,389 shares of the company’s stock, valued at approximately $1,883,528.04. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Douglas Edward Jones purchased 10,000 shares of the company’s stock in a transaction on Wednesday, April 17th. The shares were bought at an average cost of $12.36 per share, with a total value of $123,600.00. Following the transaction, the chief operating officer now directly owns 46,131 shares of the company’s stock, valued at approximately $570,179.16. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 53,000 shares of company stock valued at $662,205. Corporate insiders own 0.71% of the company’s stock.

Neogen Stock Performance

NASDAQ NEOG opened at $11.96 on Friday. Neogen Co. has a 1-year low of $11.46 and a 1-year high of $24.09. The company has a market capitalization of $2.59 billion, a P/E ratio of 1,197.20 and a beta of 1.13. The business has a 50 day moving average price of $15.02 and a 200 day moving average price of $16.36. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.82 and a quick ratio of 2.66.

Neogen (NASDAQ:NEOG) last released its quarterly earnings data on Tuesday, April 9th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.02). Neogen had a net margin of 0.17% and a return on equity of 3.35%. The firm had revenue of $228.80 million during the quarter, compared to analysts’ expectations of $230.01 million. During the same period in the previous year, the business earned $0.12 earnings per share. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. Sell-side analysts expect that Neogen Co. will post 0.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Piper Sandler cut their target price on Neogen from $19.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, April 15th.

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.