Neogen Corporation (NASDAQ:NEOG) Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue grew its stake in shares of Neogen Corporation (NASDAQ:NEOG - Free Report) by 386.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 109,387 shares of the company's stock after buying an additional 86,887 shares during the period. State of Alaska Department of Revenue owned 0.05% of Neogen worth $948,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Harbour Investments Inc. purchased a new stake in Neogen during the 4th quarter worth about $27,000. Versant Capital Management Inc boosted 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 last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Neogen during the 4th quarter worth about $43,000. Blue Trust Inc. grew its holdings in shares of Neogen by 247.6% during the fourth quarter. Blue Trust Inc. now owns 3,945 shares of the company's stock worth $48,000 after buying an additional 2,810 shares in the last quarter. Finally, Covestor Ltd raised its position in shares of Neogen by 41.4% in the fourth quarter. Covestor Ltd now owns 4,103 shares of the company's stock valued at $50,000 after buying an additional 1,202 shares during the last quarter. 96.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Neogen news, Director Aashima Gupta purchased 16,000 shares of Neogen stock in a transaction on Monday, May 12th. The shares were purchased at an average cost of $6.25 per share, with a total value of $100,000.00. Following the completion of the transaction, the director now directly owns 21,917 shares in the company, valued at approximately $136,981.25. This represents a 270.41% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James P. Tobin acquired 10,000 shares of the firm's stock in a transaction on Tuesday, April 22nd. The shares were acquired at an average price of $4.73 per share, with a total value of $47,300.00. Following the completion of the purchase, the director now owns 37,474 shares of the company's stock, valued at $177,252.02. This trade represents a 36.40% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 83,500 shares of company stock valued at $431,525 in the last ninety days. Company insiders own 1.13% of the company's stock.

Neogen Stock Down 1.6%

NEOG opened at $4.79 on Friday. Neogen Corporation has a 12 month low of $3.87 and a 12 month high of $18.58. The business has a 50-day moving average of $5.57 and a two-hundred day moving average of $8.59. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.91 and a quick ratio of 2.45. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -2.15 and a beta of 1.84.

Neogen (NASDAQ:NEOG - Get Free Report) last released its earnings results 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). Neogen had a positive return on equity of 2.69% and a negative net margin of 53.56%. The company had revenue of $221.00 million during the quarter, compared to analyst estimates of $225.27 million. During the same period in the prior year, the business posted $0.12 earnings per share. Neogen's revenue was down 3.4% on a year-over-year basis. On average, research analysts expect that Neogen Corporation will post 0.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Guggenheim reduced their price objective 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 reduced their price target on Neogen from $6.40 to $5.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd.

About Neogen

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.

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