Neogen Co. (NASDAQ:NEOG) Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its position in Neogen Co. (NASDAQ:NEOG) by 13.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 608,500 shares of the company’s stock after selling 90,990 shares during the quarter. Rhumbline Advisers’ holdings in Neogen were worth $5,276,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of NEOG. Harbour Investments Inc. acquired a new position in shares of Neogen during the 4th quarter worth $27,000. Versant Capital Management Inc grew its stake in shares of Neogen by 1,495.4% during the 1st quarter. Versant Capital Management Inc now owns 3,127 shares of the company’s stock worth $27,000 after purchasing an additional 2,931 shares during the period. Johnson Financial Group Inc. acquired a new position in shares of Neogen during the 4th quarter worth $43,000. Blue Trust Inc. grew its stake in shares of Neogen by 247.6% during the 4th quarter. Blue Trust Inc. now owns 3,945 shares of the company’s stock worth $48,000 after purchasing an additional 2,810 shares during the period. Finally, Covestor Ltd grew its stake in shares of Neogen by 41.4% during the 4th quarter. Covestor Ltd now owns 4,103 shares of the company’s stock worth $50,000 after purchasing an additional 1,202 shares during the period. 96.73% of the stock is owned by institutional investors and hedge funds.

Neogen Stock Down 1.4%

NEOG opened at $5.62 on Friday. The firm has a 50 day moving average price of $5.65 and a 200 day moving average price of $9.17. The company has a market cap of $1.22 billion, a PE ratio of -2.57 and a beta of 1.84. Neogen Co. has a 1 year low of $3.87 and a 1 year high of $18.58. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.46 and a current ratio of 3.77.

Neogen (NASDAQ:NEOG) last posted its earnings results on Wednesday, April 9th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. The business had revenue of $221.00 million for the quarter, compared to analyst estimates of $225.27 million. During the same period last year, the company posted $0.12 EPS. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. Sell-side analysts expect that Neogen Co. will post 0.38 earnings per share for the current year.

Wall Street Analyst Weigh In

NEOG has been the topic of a number of recent analyst reports. Guggenheim lowered their price target on shares of Neogen from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Piper Sandler decreased their price objective on shares of Neogen from $6.40 to $5.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 22nd.

Insider Buying and Selling at Neogen

In other news, insider Amy M. Rocklin acquired 12,500 shares of Neogen stock in a transaction that occurred on Wednesday, April 23rd. The shares were purchased at an average cost of $4.99 per share, for a total transaction of $62,375.00. Following the completion of the purchase, the insider now directly owns 36,287 shares of the company’s stock, valued at $181,072.13. This trade represents a 52.55% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director James P. Tobin acquired 10,000 shares of Neogen stock in a transaction that occurred on Tuesday, April 22nd. The shares were purchased at an average price of $4.73 per share, for a total transaction of $47,300.00. Following the completion of the purchase, the director now directly owns 37,474 shares of the company’s stock, valued at $177,252.02. The trade was a 36.40% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 83,500 shares of company stock valued at $431,525 over the last 90 days. 1.13% of the stock is owned by corporate insiders.

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.