Wealth Enhancement Advisory Services LLC Acquires 73,071 Shares of Neogen Corporation (NASDAQ:NEOG)

Wealth Enhancement Advisory Services LLC lifted its stake in Neogen Corporation (NASDAQ:NEOG - Free Report) by 212.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 107,395 shares of the company's stock after buying an additional 73,071 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Neogen were worth $931,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC bought a new position in Neogen during the 1st quarter valued at about $952,000. Yousif Capital Management LLC grew its stake in Neogen by 3.9% during the first quarter. Yousif Capital Management LLC now owns 74,508 shares of the company's stock worth $646,000 after buying an additional 2,769 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of Neogen by 24.2% during the first quarter. Harbor Capital Advisors Inc. now owns 1,619,019 shares of the company's stock worth $14,037,000 after buying an additional 315,554 shares in the last quarter. Bridge City Capital LLC raised its stake in shares of Neogen by 32.0% in the first quarter. Bridge City Capital LLC now owns 430,758 shares of the company's stock valued at $3,735,000 after acquiring an additional 104,321 shares during the last quarter. Finally, CHICAGO TRUST Co NA boosted its holdings in shares of Neogen by 19.1% in the 1st quarter. CHICAGO TRUST Co NA now owns 12,498 shares of the company's stock worth $108,000 after acquiring an additional 2,000 shares in the last quarter. Institutional investors own 96.73% of the company's stock.

Insider Transactions at Neogen

In other news, Director Aashima Gupta bought 16,000 shares of the company's stock in a transaction dated Monday, May 12th. The stock was bought at an average price of $6.25 per share, for a total transaction of $100,000.00. Following the completion of the transaction, the director directly owned 21,917 shares in the company, valued at $136,981.25. The trade was a 270.41% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Amy M. Rocklin acquired 12,500 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The stock was purchased at an average price of $4.99 per share, with a total value of $62,375.00. Following the completion of the transaction, the insider owned 36,287 shares of the company's stock, valued at approximately $181,072.13. This trade represents a 52.55% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders purchased 83,500 shares of company stock worth $431,525. Corporate insiders own 1.13% of the company's stock.

Neogen Price Performance

NEOG traded up $0.10 during midday trading on Thursday, hitting $5.33. The company had a trading volume of 4,019,215 shares, compared to its average volume of 3,498,240. Neogen Corporation has a twelve month low of $3.87 and a twelve month high of $18.58. The company has a market capitalization of $1.16 billion, a PE ratio of -2.39 and a beta of 1.77. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.45 and a current ratio of 3.91. The firm's 50-day simple moving average is $5.59 and its 200-day simple moving average is $8.38.

Neogen (NASDAQ:NEOG - Get Free Report) last released its quarterly earnings results on Wednesday, April 9th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.02). Neogen had a negative net margin of 53.56% and a positive return on equity of 2.69%. The company had revenue of $221.00 million for the quarter, compared to the consensus estimate of $225.27 million. During the same period last year, the company earned $0.12 earnings per share. Neogen's revenue for the quarter was down 3.4% compared to the same quarter last year. Equities research analysts predict that Neogen Corporation will post 0.38 EPS for the current fiscal year.

Analyst Ratings Changes

NEOG has been the topic of a number of research analyst reports. Guggenheim decreased their price target on Neogen from $13.00 to $10.00 and set a "buy" rating on the stock in a research report on Monday. Piper Sandler decreased their target price on Neogen from $6.40 to $5.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd.

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.