Harbor Capital Advisors Inc. Buys 315,554 Shares of Neogen Co. (NASDAQ:NEOG)

Harbor Capital Advisors Inc. increased its holdings in Neogen Co. (NASDAQ:NEOG - Free Report) by 24.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,619,019 shares of the company's stock after purchasing an additional 315,554 shares during the period. Neogen makes up about 0.6% of Harbor Capital Advisors Inc.'s investment portfolio, making the stock its 20th largest position. Harbor Capital Advisors Inc. owned about 0.75% of Neogen worth $14,037,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in NEOG. Harbour Investments Inc. bought a new position in shares of Neogen during the 4th quarter valued at approximately $27,000. Versant Capital Management Inc lifted its position in Neogen by 1,495.4% in the first quarter. Versant Capital Management Inc now owns 3,127 shares of the company's stock worth $27,000 after buying an additional 2,931 shares during the last quarter. Blue Trust Inc. boosted its stake 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 period. Johnson Financial Group Inc. bought a new position in Neogen during the fourth quarter valued at $43,000. Finally, Covestor Ltd increased its position in Neogen by 41.4% during the fourth quarter. Covestor Ltd now owns 4,103 shares of the company's stock valued at $50,000 after acquiring an additional 1,202 shares during the last quarter. 96.73% of the stock is owned by hedge funds and other institutional investors.

Neogen Trading Up 5.8%

NEOG stock traded up $0.32 during midday trading on Tuesday, reaching $5.84. The company's stock had a trading volume of 4,791,560 shares, compared to its average volume of 3,202,568. Neogen Co. has a 1 year low of $3.87 and a 1 year high of $18.58. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -2.67 and a beta of 1.84. The stock has a fifty day simple moving average of $5.78 and a two-hundred day simple moving average of $9.29. 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 - Get Free Report) last posted its quarterly earnings results on Wednesday, April 9th. The company reported $0.10 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 company had revenue of $221.00 million during the quarter, compared to the consensus estimate of $225.27 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. The company's revenue for the quarter was down 3.4% on a year-over-year basis. On average, equities research analysts predict that Neogen Co. will post 0.38 EPS for the current year.

Insider Transactions at Neogen

In other news, Director James P. Tobin purchased 10,000 shares of the business's stock in a transaction dated 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 owns 37,474 shares in the company, valued at approximately $177,252.02. This represents a 36.40% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Aashima Gupta acquired 16,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was acquired at an average cost of $6.25 per share, with a total value of $100,000.00. Following the completion of the purchase, the director now owns 21,917 shares of the company's stock, valued at $136,981.25. This trade represents a 270.41% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 83,500 shares of company stock valued at $431,525. 1.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on NEOG. Piper Sandler lowered their target price on shares of Neogen from $6.40 to $5.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Guggenheim cut their target price on Neogen from $15.00 to $13.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th.

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.