Neogen Co. (NASDAQ:NEOG) Holdings Boosted by Rhumbline Advisers

Rhumbline Advisers raised its position in shares of Neogen Co. (NASDAQ:NEOG) by 0.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 715,254 shares of the company’s stock after purchasing an additional 1,860 shares during the quarter. Rhumbline Advisers owned 0.33% of Neogen worth $11,179,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of NEOG. Natixis Advisors LLC grew its holdings in shares of Neogen by 12.6% during the 2nd quarter. Natixis Advisors LLC now owns 71,313 shares of the company’s stock valued at $1,115,000 after acquiring an additional 7,954 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in Neogen by 3.4% in the second quarter. Commonwealth Equity Services LLC now owns 36,630 shares of the company’s stock valued at $573,000 after purchasing an additional 1,190 shares in the last quarter. Peregrine Capital Management LLC increased its position in Neogen by 1.3% in the 2nd quarter. Peregrine Capital Management LLC now owns 571,724 shares of the company’s stock worth $8,936,000 after purchasing an additional 7,424 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of Neogen during the 2nd quarter worth about $46,000. Finally, Conestoga Capital Advisors LLC lifted its holdings in shares of Neogen by 1.9% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 6,994,986 shares of the company’s stock valued at $109,332,000 after buying an additional 129,945 shares during the last quarter. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Analysts Set New Price Targets

NEOG has been the subject of several recent research reports. StockNews.com raised shares of Neogen to a “sell” rating in a research report on Wednesday, September 4th. Piper Sandler upped their price objective on shares of Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a report on Tuesday, August 6th.

Insiders Place Their Bets

In related news, Director James P. Tobin purchased 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average price of $16.86 per share, with a total value of $50,580.00. Following the purchase, the director now directly owns 23,392 shares in the company, valued at $394,389.12. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.71% of the company’s stock.

Neogen Stock Performance

Shares of NASDAQ NEOG opened at $15.25 on Thursday. Neogen Co. has a 12 month low of $11.46 and a 12 month high of $21.88. The company has a market cap of $3.30 billion, a P/E ratio of 1,525.00 and a beta of 1.21. The business’s 50 day moving average is $16.45 and its two-hundred day moving average is $15.21. The company has a quick ratio of 2.59, a current ratio of 3.82 and a debt-to-equity ratio of 0.28.

Neogen (NASDAQ:NEOG) last released its earnings results on Tuesday, July 30th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.02). Neogen had a negative net margin of 1.02% and a positive return on equity of 3.09%. The company had revenue of $236.80 million during the quarter, compared to the consensus estimate of $225.83 million. During the same quarter in the previous year, the business posted $0.14 EPS. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. On average, equities analysts expect that Neogen Co. will post 0.54 EPS for the current 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.