Roubaix Capital LLC Boosts Position in Neogen Co. (NASDAQ:NEOG)

Roubaix Capital LLC increased its stake in Neogen Co. (NASDAQ:NEOG) by 160.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 288,427 shares of the company’s stock after acquiring an additional 177,646 shares during the quarter. Neogen accounts for approximately 2.8% of Roubaix Capital LLC’s portfolio, making the stock its 8th largest position. Roubaix Capital LLC owned approximately 0.13% of Neogen worth $4,508,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of NEOG. Rhumbline Advisers raised its stake in Neogen by 0.3% during the 2nd quarter. Rhumbline Advisers now owns 715,254 shares of the company’s stock worth $11,179,000 after buying an additional 1,860 shares during the period. Natixis Advisors LLC increased its holdings in shares of Neogen by 12.6% during the second 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 raised its position in shares of Neogen by 3.4% during the second quarter. Commonwealth Equity Services LLC now owns 36,630 shares of the company’s stock worth $573,000 after purchasing an additional 1,190 shares during the period. Peregrine Capital Management LLC lifted its holdings in shares of 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 in the last quarter. Finally, Innealta Capital LLC acquired a new stake in Neogen in the 2nd quarter valued at $46,000. Institutional investors and hedge funds own 96.73% of the company’s stock.

Neogen Stock Down 0.2 %

Shares of NASDAQ:NEOG opened at $16.07 on Thursday. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of 1,608.61 and a beta of 1.20. The business’s 50 day moving average is $16.44 and its 200 day moving average is $15.27. Neogen Co. has a 12-month low of $11.46 and a 12-month high of $23.27. 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 posted its earnings results on Tuesday, July 30th. 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 3.09% and a negative net margin of 1.02%. The firm 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 company earned $0.14 EPS. The business’s revenue was down 2.1% compared to the same quarter last year. On average, sell-side analysts forecast that Neogen Co. will post 0.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Neogen

In other Neogen news, Director James P. Tobin bought 3,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average price of $16.86 per share, for a total transaction of $50,580.00. Following the purchase, the director now directly owns 23,392 shares of the company’s stock, valued at $394,389.12. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NEOG. 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. StockNews.com upgraded shares of Neogen to a “sell” rating in a report on Wednesday.

Neogen 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.