7,239 Shares in Neogen Co. (NASDAQ:NEOG) Acquired by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC bought a new position in shares of Neogen Co. (NASDAQ:NEOG) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 7,239 shares of the company’s stock, valued at approximately $134,000.

Several other institutional investors also recently modified their holdings of the stock. Fairfield Bush & CO. grew its position in Neogen by 3.5% during the 1st quarter. Fairfield Bush & CO. now owns 75,222 shares of the company’s stock worth $2,320,000 after acquiring an additional 2,572 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Neogen by 3.3% during the first quarter. Raymond James & Associates now owns 124,917 shares of the company’s stock worth $3,852,000 after purchasing an additional 3,974 shares during the last quarter. HighTower Advisors LLC raised its holdings in Neogen by 3.6% in the 1st quarter. HighTower Advisors LLC now owns 44,465 shares of the company’s stock valued at $1,373,000 after buying an additional 1,540 shares during the last quarter. Panagora Asset Management Inc. raised its holdings in Neogen by 29.3% in the 1st quarter. Panagora Asset Management Inc. now owns 20,573 shares of the company’s stock valued at $634,000 after buying an additional 4,661 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in Neogen by 2.3% during the 1st quarter. Rhumbline Advisers now owns 305,783 shares of the company’s stock worth $9,430,000 after buying an additional 6,931 shares during the period. 96.73% of the stock is currently owned by institutional investors and hedge funds.

Neogen Stock Up 0.3 %

Shares of NASDAQ NEOG opened at $23.12 on Friday. The company’s 50 day moving average price is $22.38 and its 200-day moving average price is $19.57. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.11 and a current ratio of 4.03. Neogen Co. has a 52-week low of $10.49 and a 52-week high of $24.09. The company has a market capitalization of $5.00 billion, a P/E ratio of -330.29 and a beta of 1.06.

Neogen (NASDAQ:NEOG) last released its earnings results on Thursday, July 27th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.11. Neogen had a negative net margin of 2.78% and a positive return on equity of 4.06%. The business had revenue of $241.80 million for the quarter, compared to analyst estimates of $227.72 million. During the same quarter in the previous year, the business earned $0.18 earnings per share. Neogen’s revenue for the quarter was up 71.4% on a year-over-year basis. Equities analysts forecast that Neogen Co. will post 0.6 earnings per share for the current year.

Insider Activity at Neogen

In other Neogen news, Director William T. Boehm sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $22.59, for a total value of $33,885.00. Following the transaction, the director now directly owns 24,509 shares of the company’s stock, valued at $553,658.31. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.73% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on NEOG. StockNews.com started coverage on shares of Neogen in a research note on Thursday, August 17th. They set a “sell” rating for the company. Piper Sandler lifted their target price on Neogen from $19.00 to $24.00 in a report on Monday, August 7th. Finally, Wells Fargo & Company upped their price target on Neogen from $22.00 to $28.00 and gave the company an “overweight” rating in a research report on Monday, August 14th.

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.