State of Alaska Department of Revenue Cuts Stock Holdings in Neogen Co. (NASDAQ:NEOG)

State of Alaska Department of Revenue lowered its stake in shares of Neogen Co. (NASDAQ:NEOG) by 9.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,260 shares of the company’s stock after selling 2,290 shares during the quarter. State of Alaska Department of Revenue’s holdings in Neogen were worth $427,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Steward Partners Investment Advisory LLC purchased a new stake in shares of Neogen during the first quarter worth $29,000. State of Tennessee Treasury Department purchased a new position in Neogen in the first quarter valued at $45,000. International Assets Investment Management LLC purchased a new position in Neogen in the third quarter valued at $49,000. Allspring Global Investments Holdings LLC increased its holdings in Neogen by 416.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,033 shares of the company’s stock valued at $56,000 after buying an additional 2,446 shares during the last quarter. Finally, First Manhattan CO. LLC. purchased a new position in Neogen in the first quarter valued at $68,000. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Insiders Place Their Bets

In other news, CEO John Edward Adent acquired 23,000 shares of the company’s stock in a transaction on Wednesday, April 10th. The shares were bought at an average price of $12.36 per share, with a total value of $284,280.00. Following the completion of the acquisition, the chief executive officer now owns 152,389 shares in the company, valued at approximately $1,883,528.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO John Edward Adent acquired 23,000 shares of the company’s stock in a transaction on Wednesday, April 10th. The shares were bought at an average price of $12.36 per share, with a total value of $284,280.00. Following the completion of the acquisition, the chief executive officer now owns 152,389 shares in the company, valued at approximately $1,883,528.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO David H. Naemura acquired 12,500 shares of the company’s stock in a transaction on Wednesday, April 10th. The shares were purchased at an average cost of $12.51 per share, for a total transaction of $156,375.00. Following the acquisition, the chief financial officer now owns 30,040 shares of the company’s stock, valued at approximately $375,800.40. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 43,000 shares of company stock valued at $538,605. 0.71% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, Piper Sandler increased their target price on Neogen from $17.50 to $19.00 and gave the company a “neutral” rating in a report on Thursday, January 18th.

Neogen Stock Performance

NASDAQ:NEOG opened at $12.38 on Friday. The firm has a market capitalization of $2.68 billion, a PE ratio of 1,238.00 and a beta of 1.13. The business’s fifty day moving average price is $15.81 and its 200 day moving average price is $16.72. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.82 and a quick ratio of 2.63. Neogen Co. has a 12 month low of $12.18 and a 12 month high of $24.09.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings data on Tuesday, April 9th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.02). The firm had revenue of $228.80 million for the quarter, compared to analysts’ expectations of $230.01 million. Neogen had a return on equity of 3.35% and a net margin of 0.17%. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.12 EPS. On average, sell-side analysts anticipate that Neogen Co. will post 0.5 earnings per share for the current fiscal year.

Neogen Company 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.