Neogen Corporation (NASDAQ:NEOG) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. raised its stake in shares of Neogen Corporation (NASDAQ:NEOG - Free Report) by 57.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 157,664 shares of the company's stock after purchasing an additional 57,251 shares during the quarter. Oppenheimer Asset Management Inc. owned about 0.07% of Neogen worth $1,367,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Neogen by 38.5% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 18,956 shares of the company's stock valued at $164,000 after buying an additional 5,274 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in Neogen by 386.2% in the 1st quarter. State of Alaska Department of Revenue now owns 109,387 shares of the company's stock worth $948,000 after acquiring an additional 86,887 shares in the last quarter. Conestoga Capital Advisors LLC raised its position in shares of Neogen by 0.4% during the 1st quarter. Conestoga Capital Advisors LLC now owns 8,540,859 shares of the company's stock worth $74,049,000 after purchasing an additional 37,271 shares during the last quarter. QRG Capital Management Inc. raised its holdings in shares of Neogen by 28.6% during the first quarter. QRG Capital Management Inc. now owns 15,674 shares of the company's stock valued at $136,000 after acquiring an additional 3,486 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Neogen by 212.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 107,395 shares of the company's stock valued at $931,000 after purchasing an additional 73,071 shares during the last quarter. Hedge funds and other institutional investors own 96.73% of the company's stock.

Insider Activity at Neogen

In related 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 acquisition, the insider now owns 36,287 shares in the company, valued at approximately $181,072.13. This represents a 52.55% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Aashima Gupta purchased 16,000 shares of Neogen stock in a transaction dated Monday, May 12th. The stock was bought at an average cost of $6.25 per share, for a total transaction of $100,000.00. Following the completion of the purchase, the director now directly owns 21,917 shares in the company, valued at approximately $136,981.25. This trade represents a 270.41% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 83,500 shares of company stock worth $431,525. Insiders own 1.13% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NEOG. Piper Sandler decreased their price target on shares of Neogen from $6.40 to $5.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Guggenheim decreased their target price 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.

Neogen Stock Down 1.3%

Shares of NASDAQ:NEOG opened at $4.73 on Friday. Neogen Corporation has a 52-week low of $3.87 and a 52-week high of $18.58. The company has a quick ratio of 2.45, a current ratio of 3.91 and a debt-to-equity ratio of 0.33. The business has a fifty day moving average of $5.58 and a two-hundred day moving average of $8.53. The stock has a market cap of $1.03 billion, a P/E ratio of -2.12 and a beta of 1.84.

Neogen (NASDAQ:NEOG - Get Free Report) last released its quarterly earnings data on Wednesday, April 9th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.02). The firm had revenue of $221.00 million for the quarter, compared to analyst estimates of $225.27 million. Neogen had a positive return on equity of 2.69% and a negative net margin of 53.56%. Neogen's revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.12 earnings per share. On average, research analysts expect that Neogen Corporation will post 0.38 earnings per share for the current year.

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.

Want to see what other hedge funds are holding NEOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Neogen Corporation (NASDAQ:NEOG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.