Neogen Co. (NASDAQ:NEOG) Shares Sold by Rhumbline Advisers

Rhumbline Advisers trimmed its position in shares of Neogen Co. (NASDAQ:NEOG - Free Report) by 13.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 608,500 shares of the company's stock after selling 90,990 shares during the quarter. Rhumbline Advisers owned 0.28% of Neogen worth $5,276,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Harbour Investments Inc. purchased a new stake in shares of Neogen during the fourth quarter valued at $27,000. Versant Capital Management Inc boosted its stake in shares of Neogen by 1,495.4% during the first quarter. Versant Capital Management Inc now owns 3,127 shares of the company's stock valued at $27,000 after purchasing an additional 2,931 shares during the period. Johnson Financial Group Inc. purchased a new stake in shares of Neogen during the fourth quarter valued at $43,000. Blue Trust Inc. boosted its stake in shares of Neogen by 247.6% during the fourth quarter. Blue Trust Inc. now owns 3,945 shares of the company's stock valued at $48,000 after purchasing an additional 2,810 shares during the period. Finally, Covestor Ltd boosted its stake in shares of 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 purchasing an additional 1,202 shares during the period. 96.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on NEOG shares. Guggenheim decreased their price objective on Neogen from $15.00 to $13.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Piper Sandler decreased their price objective on Neogen from $6.40 to $5.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd.

Neogen Stock Up 2.0%

Shares of NEOG stock traded up $0.11 on Monday, hitting $5.64. The stock had a trading volume of 3,986,228 shares, compared to its average volume of 3,228,808. The company has a quick ratio of 2.46, a current ratio of 3.77 and a debt-to-equity ratio of 0.33. The business has a 50 day moving average price of $5.59 and a 200 day moving average price of $8.98. The company has a market cap of $1.22 billion, a PE ratio of -2.58 and a beta of 1.84. Neogen Co. has a one year low of $3.87 and a one year high of $18.58.

Neogen (NASDAQ:NEOG - Get Free Report) last released its quarterly earnings data on Wednesday, April 9th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.02). The firm had revenue of $221.00 million during the quarter, compared to the consensus estimate of $225.27 million. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The business's revenue was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.12 earnings per share. Research analysts anticipate that Neogen Co. will post 0.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director James P. Tobin bought 10,000 shares of Neogen stock in a transaction on Tuesday, April 22nd. The stock was acquired at an average cost of $4.73 per share, for a total transaction of $47,300.00. Following the completion of the acquisition, 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 position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Aashima Gupta bought 16,000 shares of Neogen stock in a transaction on Monday, May 12th. The stock was purchased at an average price of $6.25 per share, with a total value of $100,000.00. Following the completion of the acquisition, the director now directly owns 21,917 shares of the company's stock, valued at $136,981.25. This represents a 270.41% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 83,500 shares of company stock worth $431,525. 1.13% of the stock is owned by corporate insiders.

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.