Rhumbline Advisers Sells 90,990 Shares of Neogen Co. (NASDAQ:NEOG)

Rhumbline Advisers lowered its position in Neogen Co. (NASDAQ:NEOG - Free Report) by 13.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 608,500 shares of the company's stock after selling 90,990 shares during the quarter. Rhumbline Advisers owned about 0.28% of Neogen worth $5,276,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of NEOG. Norges Bank bought a new position in shares of Neogen during the 4th quarter valued at about $212,171,000. Clarkston Capital Partners LLC bought a new position in Neogen during the fourth quarter valued at approximately $34,801,000. Vanguard Group Inc. grew its position in Neogen by 9.8% during the fourth quarter. Vanguard Group Inc. now owns 21,637,251 shares of the company's stock valued at $262,676,000 after acquiring an additional 1,928,491 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of Neogen by 27.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,114,702 shares of the company's stock worth $86,373,000 after acquiring an additional 1,521,560 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Neogen by 24.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,939,984 shares of the company's stock worth $84,254,000 after acquiring an additional 1,345,056 shares during the last quarter. Hedge funds and other institutional investors own 96.73% of the company's stock.

Insider Buying and Selling at Neogen

In other Neogen news, CAO John Patrick Moylan bought 10,000 shares of the company's stock in a transaction dated Thursday, April 10th. The shares were purchased at an average price of $5.07 per share, for a total transaction of $50,700.00. Following the acquisition, the chief accounting officer now owns 10,000 shares in the company, valued at approximately $50,700. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James C. Borel bought 35,000 shares of Neogen stock in a transaction dated Thursday, April 24th. The stock was acquired at an average cost of $4.89 per share, for a total transaction of $171,150.00. Following the completion of the transaction, the director now directly owns 60,474 shares in the company, valued at approximately $295,717.86. This trade represents a 137.39% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 83,500 shares of company stock valued at $431,525. 1.13% of the stock is currently owned by corporate insiders.

Neogen Trading Down 1.6%

Shares of NASDAQ NEOG traded down $0.09 during mid-day trading on Friday, hitting $5.53. The stock had a trading volume of 3,982,338 shares, compared to its average volume of 3,220,653. The business has a 50 day moving average price of $5.65 and a two-hundred day moving average price of $9.17. 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. The firm has a market cap of $1.20 billion, a P/E ratio of -2.53 and a beta of 1.84.

Neogen (NASDAQ:NEOG - Get Free Report) last announced its 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 negative net margin of 52.12% and a positive return on equity of 2.89%. The business had revenue of $221.00 million for the quarter, compared to the consensus estimate of $225.27 million. During the same quarter in the prior year, the company earned $0.12 EPS. Neogen's revenue was down 3.4% compared to the same quarter last year. On average, equities analysts anticipate that Neogen Co. will post 0.38 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Piper Sandler decreased their target price 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. Guggenheim decreased their price objective on Neogen from $15.00 to $13.00 and set a "buy" rating on the stock in a report 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.