Russell Investments Group Ltd. Has $4.25 Million Stock Position in Neogen Co. (NASDAQ:NEOG)

Russell Investments Group Ltd. grew its position in Neogen Co. (NASDAQ:NEOG - Free Report) by 366.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 349,258 shares of the company's stock after purchasing an additional 274,395 shares during the quarter. Russell Investments Group Ltd. owned about 0.16% of Neogen worth $4,254,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Harbour Investments Inc. acquired a new position in shares of Neogen during the 4th quarter worth approximately $27,000. Blue Trust Inc. raised its holdings in 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 in the last quarter. KBC Group NV lifted its position in shares of Neogen by 39.1% during the 4th quarter. KBC Group NV now owns 8,464 shares of the company's stock valued at $103,000 after acquiring an additional 2,379 shares during the period. Brown Brothers Harriman & Co. grew its holdings in shares of Neogen by 4,955.8% during the 4th quarter. Brown Brothers Harriman & Co. now owns 10,415 shares of the company's stock worth $126,000 after purchasing an additional 10,209 shares in the last quarter. Finally, Hardy Reed LLC acquired a new position in Neogen in the fourth quarter valued at about $133,000. Institutional investors own 96.73% of the company's stock.

Wall Street Analyst Weigh In

NEOG has been the topic of a number of recent analyst reports. Guggenheim decreased 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 objective on Neogen from $13.00 to $6.50 and set a "neutral" rating on the stock in a research note on Monday, April 14th.

Neogen Price Performance

Shares of NEOG traded up $0.30 during trading hours on Monday, reaching $4.69. The stock had a trading volume of 12,331,281 shares, compared to its average volume of 2,678,677. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.46 and a current ratio of 3.77. Neogen Co. has a 12 month low of $3.87 and a 12 month high of $18.58. The stock has a market capitalization of $1.02 billion, a PE ratio of -2.14 and a beta of 1.57. The company's 50-day moving average is $8.40 and its two-hundred day moving average is $11.47.

Neogen (NASDAQ:NEOG - Get Free Report) last posted its earnings results on Wednesday, April 9th. The company reported $0.10 EPS 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 firm had revenue of $221.00 million during the quarter, compared to the consensus estimate of $225.27 million. During the same quarter in the prior year, the business posted $0.12 earnings per share. Neogen's revenue for the quarter was down 3.4% compared to the same quarter last year. Research analysts expect that Neogen Co. will post 0.38 EPS for the current year.

Insiders Place Their Bets

In other Neogen news, CAO John Patrick Moylan purchased 10,000 shares of the business's stock in a transaction dated Thursday, April 10th. The shares were bought at an average price of $5.07 per share, for a total transaction of $50,700.00. Following the completion of the acquisition, the chief accounting officer now owns 10,000 shares in the company, valued at approximately $50,700. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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.