Handelsinvest Investeringsforvaltning Sells 6,255 Shares of Neogen Co. (NASDAQ:NEOG)

Handelsinvest Investeringsforvaltning decreased its position in Neogen Co. (NASDAQ:NEOG) by 34.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,047 shares of the company’s stock after selling 6,255 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Neogen were worth $190,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Moody National Bank Trust Division bought a new position in Neogen in the first quarter valued at about $161,000. Connable Office Inc. purchased a new stake in Neogen in the fourth quarter worth about $202,000. Vise Technologies Inc. purchased a new stake in Neogen in the fourth quarter worth about $220,000. AlphaMark Advisors LLC purchased a new stake in Neogen in the first quarter worth about $239,000. Finally, Washington Trust Advisors Inc. increased its position in Neogen by 10.1% in the fourth quarter. Washington Trust Advisors Inc. now owns 11,966 shares of the company’s stock worth $241,000 after buying an additional 1,100 shares in the last quarter. Institutional investors own 96.73% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler reduced their price target on Neogen from $19.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, April 15th.

Insider Buying and Selling at Neogen

In other news, COO Douglas Edward Jones purchased 10,000 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was acquired at an average price of $12.36 per share, for a total transaction of $123,600.00. Following the acquisition, the chief operating officer now directly owns 46,131 shares of the company’s stock, valued at approximately $570,179.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Neogen news, CEO John Edward Adent purchased 23,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The stock was purchased at an average cost of $12.36 per share, with a total value of $284,280.00. Following the purchase, the chief executive officer now owns 152,389 shares of the company’s stock, valued at $1,883,528.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Douglas Edward Jones purchased 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were acquired at an average cost of $12.36 per share, with a total value of $123,600.00. Following the completion of the purchase, the chief operating officer now directly owns 46,131 shares in the company, valued at approximately $570,179.16. The disclosure for this purchase can be found here. Insiders bought 53,000 shares of company stock worth $662,205 in the last quarter. 0.71% of the stock is owned by corporate insiders.

Neogen Stock Performance

Shares of NEOG opened at $15.21 on Thursday. The company has a quick ratio of 2.66, a current ratio of 3.82 and a debt-to-equity ratio of 0.28. Neogen Co. has a 52 week low of $11.46 and a 52 week high of $24.09. The business has a 50-day simple moving average of $14.35 and a two-hundred day simple moving average of $15.72. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 1,522.52 and a beta of 1.20.

Neogen (NASDAQ:NEOG) last released its earnings results 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 return on equity of 3.35% and a net margin of 0.17%. The business had revenue of $228.80 million for the quarter, compared to analysts’ expectations of $230.01 million. During the same quarter in the prior year, the business posted $0.12 EPS. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, analysts expect that Neogen Co. will post 0.46 EPS for the current 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.