109,787 Shares in Neogen Corporation (NASDAQ:NEOG) Acquired by SG Americas Securities LLC

SG Americas Securities LLC acquired a new position in shares of Neogen Corporation (NASDAQ:NEOG - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 109,787 shares of the company's stock, valued at approximately $952,000. SG Americas Securities LLC owned 0.05% of Neogen at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NEOG. Harbour Investments Inc. bought a new stake in shares of Neogen during the 4th quarter valued at $27,000. Versant Capital Management Inc boosted its stake in shares of Neogen by 1,495.4% in the 1st 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 in the last quarter. Johnson Financial Group Inc. bought a new position in shares of Neogen in the 4th quarter valued at $43,000. Blue Trust Inc. lifted its stake in shares of Neogen by 247.6% in the 4th quarter. Blue Trust Inc. now owns 3,945 shares of the company's stock valued at $48,000 after acquiring an additional 2,810 shares during the last quarter. Finally, Covestor Ltd increased its stake 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 period. 96.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on NEOG shares. Piper Sandler reduced their price objective 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 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.

Insider Buying and Selling

In related news, insider Amy M. Rocklin bought 12,500 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The shares were acquired at an average cost of $4.99 per share, with a total value of $62,375.00. Following the completion of the purchase, the insider now directly owns 36,287 shares in the company, valued at $181,072.13. The trade was a 52.55% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James P. Tobin bought 10,000 shares of the business's stock in a transaction that occurred on Tuesday, April 22nd. The shares were bought at an average cost of $4.73 per share, for a total transaction 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 represents a 36.40% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 83,500 shares of company stock valued at $431,525 over the last quarter. Insiders own 1.13% of the company's stock.

Neogen Trading Down 1.0%

Shares of Neogen stock traded down $0.05 during midday trading on Friday, reaching $4.94. The company had a trading volume of 6,103,411 shares, compared to its average volume of 3,271,949. The stock has a fifty day moving average price of $5.57 and a 200 day moving average price of $8.78. 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 firm has a market cap of $1.07 billion, a PE ratio of -2.22 and a beta of 1.84. Neogen Corporation has a fifty-two week low of $3.87 and a fifty-two week high of $18.58.

Neogen (NASDAQ:NEOG - Get Free Report) last posted its quarterly earnings data 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 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 firm earned $0.12 earnings per share. Neogen's revenue was down 3.4% compared to the same quarter last year. On average, equities analysts anticipate that Neogen Corporation will post 0.38 earnings per share for the current year.

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.