Rhumbline Advisers Has $11.18 Million Holdings in Neogen Co. (NASDAQ:NEOG)

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

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Covestor Ltd increased its stake 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 in the last quarter. Innealta Capital LLC acquired a new position in shares of Neogen in the 2nd quarter valued at $46,000. Family Firm Inc. bought a new stake in shares of Neogen in the 2nd quarter valued at $90,000. Quantum Private Wealth LLC acquired a new stake in Neogen during the 2nd quarter worth $156,000. Finally, Moody National Bank Trust Division bought a new position in Neogen during the first quarter worth about $161,000. Institutional investors own 96.73% of the company’s stock.

Neogen Trading Down 1.3 %

Neogen stock opened at $15.25 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.82 and a quick ratio of 2.59. The firm has a 50-day moving average of $16.45 and a 200-day moving average of $15.21. The company has a market cap of $3.30 billion, a price-to-earnings ratio of 1,525.00 and a beta of 1.21. Neogen Co. has a one year low of $11.46 and a one year high of $21.88.

Neogen (NASDAQ:NEOG) last posted its quarterly 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). The firm had revenue of $236.80 million for the quarter, compared to the consensus estimate of $225.83 million. Neogen had a positive return on equity of 3.09% and a negative net margin of 1.02%. The business’s revenue was down 2.1% compared to the same quarter last year. During the same period last year, the company posted $0.14 earnings per share. On average, equities analysts expect that Neogen Co. will post 0.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Neogen

In related news, Director James P. Tobin acquired 3,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was purchased at an average cost of $16.86 per share, for a total transaction of $50,580.00. Following the completion of the transaction, the director now directly owns 23,392 shares of the company’s stock, valued at approximately $394,389.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. StockNews.com upgraded Neogen to a “sell” rating in a research report on Wednesday, September 4th. Piper Sandler upped their price target on shares of Neogen from $17.00 to $17.50 and gave the company a “neutral” rating in a report on Tuesday, August 6th.

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.