Neogen Co. (NASDAQ:NEOG) Shares Acquired by Diversified Trust Co

Diversified Trust Co increased its position in shares of Neogen Co. (NASDAQ:NEOG) by 19.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,940 shares of the company’s stock after acquiring an additional 9,311 shares during the quarter. Diversified Trust Co’s holdings in Neogen were worth $890,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Covestor Ltd raised its position in Neogen by 173.2% in the first quarter. Covestor Ltd now owns 1,970 shares of the company’s stock valued at $31,000 after purchasing an additional 1,249 shares during the period. Moody National Bank Trust Division acquired a new stake in Neogen in the 1st quarter valued at approximately $161,000. Bayesian Capital Management LP purchased a new stake in Neogen in the first quarter valued at approximately $175,000. Inspire Advisors LLC acquired a new position in Neogen during the first quarter worth $176,000. Finally, Connable Office Inc. acquired a new stake in shares of Neogen in the fourth quarter valued at $202,000. 96.73% of the stock is currently owned by institutional investors and hedge funds.

Neogen Stock Down 0.5 %

Shares of NEOG traded down $0.09 during midday trading on Wednesday, hitting $16.54. The company had a trading volume of 33,985 shares, compared to its average volume of 2,091,994. The company’s 50-day simple moving average is $16.41 and its 200-day simple moving average is $15.23. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.66 and a current ratio of 3.82. Neogen Co. has a 1 year low of $11.46 and a 1 year high of $24.09. The firm has a market capitalization of $3.58 billion, a P/E ratio of 1,655.00 and a beta of 1.20.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). The firm had revenue of $236.80 million during the quarter, compared to analyst estimates of $225.83 million. Neogen had a negative net margin of 1.02% and a positive return on equity of 3.09%. Neogen’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.14 earnings per share. As a group, sell-side analysts expect that Neogen Co. will post 0.56 EPS for the current year.

Insider Activity at Neogen

In other news, Director James P. Tobin bought 3,000 shares of Neogen stock in a transaction dated Tuesday, August 6th. The stock was acquired at an average cost of $16.86 per share, with a total value of $50,580.00. Following the acquisition, the director now owns 23,392 shares of the company’s stock, valued at $394,389.12. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Piper Sandler boosted their price target on shares of Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. StockNews.com raised shares of Neogen to a “sell” rating in a research note on Wednesday, July 10th.

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.