Neogen Co. (NASDAQ:NEOG) Shares Bought by Deutsche Bank AG

Deutsche Bank AG raised its position in Neogen Co. (NASDAQ:NEOG) by 52.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 188,609 shares of the company’s stock after acquiring an additional 65,293 shares during the period. Deutsche Bank AG owned approximately 0.09% of Neogen worth $2,290,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Harbour Investments Inc. acquired a new stake in shares of Neogen during the fourth quarter worth $27,000. Blue Trust Inc. lifted its stake in shares of Neogen by 196.7% during the fourth quarter. Blue Trust Inc. now owns 3,368 shares of the company’s stock worth $41,000 after buying an additional 2,233 shares during the period. Johnson Financial Group Inc. acquired a new stake in shares of Neogen during the fourth quarter worth $43,000. Covestor Ltd lifted its stake in shares of Neogen by 41.4% during the fourth quarter. Covestor Ltd now owns 4,103 shares of the company’s stock worth $50,000 after buying an additional 1,202 shares during the period. Finally, KBC Group NV lifted its stake in shares of Neogen by 39.1% during the fourth quarter. KBC Group NV now owns 8,464 shares of the company’s stock worth $103,000 after buying an additional 2,379 shares during the period. 96.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Neogen news, Director James P. Tobin bought 10,000 shares of Neogen stock in a transaction that occurred on Tuesday, April 22nd. The stock was purchased at an average price of $4.73 per share, with a total value of $47,300.00. Following the completion of the acquisition, the director now directly owns 37,474 shares in the company, valued at approximately $177,252.02. This trade represents a 36.40% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Aashima Gupta bought 16,000 shares of Neogen stock in a transaction that occurred on Monday, May 12th. The shares were acquired at an average cost of $6.25 per share, with a total value of $100,000.00. Following the acquisition, the director now owns 21,917 shares of the company’s stock, valued at $136,981.25. The trade was a 270.41% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 83,500 shares of company stock valued at $431,525 over the last 90 days. Insiders own 1.13% of the company’s stock.

Neogen Trading Down 0.5%

NASDAQ:NEOG opened at $6.19 on Friday. Neogen Co. has a 12 month low of $3.87 and a 12 month high of $18.58. The firm has a fifty day simple moving average of $6.51 and a 200-day simple moving average of $10.16. The company has a current ratio of 3.77, a quick ratio of 2.46 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $1.34 billion, a P/E ratio of -2.83 and a beta of 1.83.

Neogen (NASDAQ:NEOG) last issued its earnings results on Wednesday, April 9th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.02). Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. The business had revenue of $221.00 million for the quarter, compared to analysts’ expectations of $225.27 million. During the same period last year, the business earned $0.12 EPS. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. On average, equities research analysts anticipate that Neogen Co. will post 0.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NEOG shares. Guggenheim lowered their price objective on shares of Neogen from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Piper Sandler lowered their price objective on shares of Neogen from $6.40 to $5.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd.

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.