Neogen Co. (NASDAQ:NEOG) Shares Purchased by Roubaix Capital LLC

Roubaix Capital LLC increased its stake in shares of Neogen Co. (NASDAQ:NEOG) by 10.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 317,739 shares of the company’s stock after buying an additional 29,312 shares during the period. Neogen comprises 2.9% of Roubaix Capital LLC’s portfolio, making the stock its 6th largest holding. Roubaix Capital LLC’s holdings in Neogen were worth $5,341,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NEOG. William Blair Investment Management LLC raised its stake in shares of Neogen by 64.7% during the 2nd quarter. William Blair Investment Management LLC now owns 12,013,072 shares of the company’s stock worth $187,764,000 after buying an additional 4,717,696 shares during the last quarter. Baillie Gifford & Co. increased its holdings in Neogen by 42.3% during the 1st quarter. Baillie Gifford & Co. now owns 11,789,521 shares of the company’s stock valued at $186,039,000 after acquiring an additional 3,502,807 shares in the last quarter. Select Equity Group L.P. raised its position in Neogen by 23.1% during the second quarter. Select Equity Group L.P. now owns 15,530,439 shares of the company’s stock worth $242,741,000 after acquiring an additional 2,914,893 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Neogen by 148.3% in the second quarter. Dimensional Fund Advisors LP now owns 4,109,180 shares of the company’s stock valued at $64,229,000 after purchasing an additional 2,454,566 shares in the last quarter. Finally, Shapiro Capital Management LLC purchased a new stake in shares of Neogen in the second quarter valued at about $31,087,000. 96.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NEOG. StockNews.com raised shares of Neogen to a “sell” rating in a research note on Monday, September 30th. Piper Sandler raised their price target on Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th.

Neogen Trading Up 1.6 %

Shares of NEOG stock opened at $14.57 on Thursday. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of -132.45 and a beta of 1.21. The company has a current ratio of 4.41, a quick ratio of 2.79 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average price of $15.63 and a 200 day moving average price of $15.19. Neogen Co. has a twelve month low of $11.46 and a twelve month high of $20.89.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings data on Thursday, October 10th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.03). The business had revenue of $217.00 million for the quarter, compared to analyst estimates of $215.05 million. Neogen had a positive return on equity of 2.80% and a negative net margin of 2.58%. Neogen’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.11 EPS. Research analysts forecast that Neogen Co. will post 0.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director James P. Tobin acquired 3,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was bought at an average price of $16.86 per share, with a total value of $50,580.00. Following the purchase, the director now directly owns 23,392 shares in the company, valued at $394,389.12. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO John Edward Adent purchased 14,500 shares of the stock in a transaction on Friday, October 11th. The stock was purchased at an average price of $13.80 per share, with a total value of $200,100.00. Following the completion of the transaction, the chief executive officer now owns 216,477 shares in the company, valued at approximately $2,987,382.60. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James P. Tobin acquired 3,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was purchased at an average price of $16.86 per share, for a total transaction of $50,580.00. Following the completion of the acquisition, the director now owns 23,392 shares in the company, valued at approximately $394,389.12. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.13% of the stock is owned by corporate insiders.

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.