31,021 Shares in Neogen Co. (NASDAQ:NEOG) Purchased by Private Advisor Group LLC

Private Advisor Group LLC purchased a new position in Neogen Co. (NASDAQ:NEOG) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 31,021 shares of the company’s stock, valued at approximately $575,000.

A number of other hedge funds also recently bought and sold shares of NEOG. Conestoga Capital Advisors LLC bought a new position in Neogen during the 1st quarter valued at about $105,542,000. Mackenzie Financial Corp bought a new position in Neogen during the 1st quarter valued at about $49,727,000. Riverbridge Partners LLC bought a new position in Neogen during the 1st quarter valued at about $49,680,000. Bank of New York Mellon Corp bought a new position in Neogen during the 1st quarter valued at about $41,631,000. Finally, Banque Pictet & Cie SA bought a new position in Neogen during the 1st quarter valued at about $28,714,000. Institutional investors own 96.73% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, Director William T. Boehm sold 1,500 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $22.59, for a total value of $33,885.00. Following the completion of the sale, the director now directly owns 24,509 shares of the company’s stock, valued at approximately $553,658.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.73% of the stock is currently owned by insiders.

Neogen Price Performance

NASDAQ NEOG opened at $23.33 on Friday. Neogen Co. has a 52 week low of $10.49 and a 52 week high of $24.09. The firm has a market capitalization of $5.05 billion, a P/E ratio of -333.29 and a beta of 1.06. The company has a quick ratio of 3.11, a current ratio of 4.03 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average price of $22.41 and a 200-day moving average price of $19.60.

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

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.