Simmons Bank Increases Stock Position in Neogen Co. (NASDAQ:NEOG)

Simmons Bank grew its position in shares of Neogen Co. (NASDAQ:NEOG) by 24.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,590 shares of the company’s stock after purchasing an additional 4,850 shares during the quarter. Simmons Bank’s holdings in Neogen were worth $495,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its stake in Neogen by 416.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,033 shares of the company’s stock worth $56,000 after buying an additional 2,446 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in shares of Neogen in the third quarter valued at approximately $151,000. Fifth Third Bancorp grew its position in shares of Neogen by 10.7% during the third quarter. Fifth Third Bancorp now owns 9,967 shares of the company’s stock worth $185,000 after acquiring an additional 966 shares during the last quarter. Savant Capital LLC increased its holdings in shares of Neogen by 9.4% in the 3rd quarter. Savant Capital LLC now owns 10,320 shares of the company’s stock valued at $191,000 after acquiring an additional 889 shares during the period. Finally, Fox Run Management L.L.C. purchased a new stake in Neogen in the 3rd quarter valued at $201,000. Institutional investors and hedge funds own 96.73% of the company’s stock.

Analysts Set New Price Targets

Separately, Piper Sandler dropped their price objective on shares of Neogen from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, April 15th.

Insider Buying and Selling

In other Neogen news, COO Douglas Edward Jones acquired 10,000 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was purchased at an average price of $12.36 per share, for a total transaction of $123,600.00. Following the completion of the transaction, the chief operating officer now owns 46,131 shares of the company’s stock, valued at approximately $570,179.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Douglas Edward Jones acquired 10,000 shares of Neogen stock in a transaction that occurred on Wednesday, April 17th. The stock was purchased at an average cost of $12.36 per share, with a total value of $123,600.00. Following the completion of the acquisition, the chief operating officer now owns 46,131 shares in the company, valued at approximately $570,179.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David H. Naemura acquired 12,500 shares of the stock in a transaction that occurred on Wednesday, April 10th. The stock was acquired at an average cost of $12.51 per share, for a total transaction of $156,375.00. Following the completion of the purchase, the chief financial officer now owns 30,040 shares in the company, valued at approximately $375,800.40. The disclosure for this purchase can be found here. Insiders bought 53,000 shares of company stock valued at $662,205 over the last ninety days. Corporate insiders own 0.71% of the company’s stock.

Neogen Stock Performance

Shares of NEOG stock traded down $0.38 during midday trading on Wednesday, hitting $12.03. The company had a trading volume of 1,433,464 shares, compared to its average volume of 2,150,820. Neogen Co. has a 52-week low of $11.46 and a 52-week high of $24.09. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.82 and a quick ratio of 2.66. The company’s 50 day simple moving average is $14.22 and its 200 day simple moving average is $16.19. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of 1,242.24 and a beta of 1.18.

Neogen (NASDAQ:NEOG) last announced 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). Neogen had a net margin of 0.17% and a return on equity of 3.35%. The firm had revenue of $228.80 million during the quarter, compared to analyst estimates of $230.01 million. During the same period in the prior year, the firm posted $0.12 earnings per share. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. Research analysts anticipate that Neogen Co. will post 0.46 earnings per share for the current fiscal year.

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.