Raymond James Financial Inc. Takes Position in Neogen Co. (NASDAQ:NEOG)

Raymond James Financial Inc. bought a new stake in shares of Neogen Co. (NASDAQ:NEOG - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 226,030 shares of the company's stock, valued at approximately $2,744,000. Raymond James Financial Inc. owned about 0.10% of Neogen as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in NEOG. Connable Office Inc. increased its holdings in Neogen by 5.6% in the fourth quarter. Connable Office Inc. now owns 18,793 shares of the company's stock valued at $228,000 after purchasing an additional 1,000 shares during the last quarter. Inspire Advisors LLC grew its position in shares of Neogen by 10.1% during the 4th quarter. Inspire Advisors LLC now owns 14,226 shares of the company's stock worth $173,000 after buying an additional 1,304 shares during the period. Blue Trust Inc. increased its stake in shares of Neogen by 196.7% in the 4th quarter. Blue Trust Inc. now owns 3,368 shares of the company's stock valued at $41,000 after acquiring an additional 2,233 shares during the last quarter. Harbour Investments Inc. acquired a new stake in shares of Neogen in the 4th quarter valued at approximately $27,000. Finally, Commonwealth Equity Services LLC boosted its stake in Neogen by 6.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 39,263 shares of the company's stock worth $477,000 after acquiring an additional 2,267 shares during the last quarter. Institutional investors and hedge funds own 96.73% of the company's stock.

Analyst Upgrades and Downgrades

NEOG has been the topic of several analyst reports. Piper Sandler cut their target price on shares of Neogen from $6.40 to $5.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Guggenheim dropped their price objective on 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 Up 11.7 %

NASDAQ NEOG traded up $0.60 during trading hours on Friday, reaching $5.75. 16,432,546 shares of the company's stock were exchanged, compared to its average volume of 2,864,059. 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 company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -2.63 and a beta of 1.57. The company's 50-day moving average is $7.50 and its two-hundred day moving average is $10.91. 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 results 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). Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The company had revenue of $221.00 million during the quarter, compared to analyst estimates of $225.27 million. During the same quarter last year, the company earned $0.12 EPS. The firm's quarterly revenue was down 3.4% compared to the same quarter last year. On average, analysts forecast that Neogen Co. will post 0.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other Neogen news, CAO John Patrick Moylan acquired 10,000 shares of the stock in a transaction dated Thursday, April 10th. The shares were bought at an average cost of $5.07 per share, for a total transaction of $50,700.00. Following the completion of the acquisition, the chief accounting officer now directly owns 10,000 shares of the company's stock, valued at approximately $50,700. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James C. Borel acquired 35,000 shares of the business's 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 transaction, the director now owns 60,474 shares of the company's stock, valued at $295,717.86. This represents a 137.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 67,500 shares of company stock worth $331,525. Corporate insiders own 1.13% of the company's stock.

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.