Van ECK Associates Corp Buys 2,544 Shares of Neogen Co. (NASDAQ:NEOG)

Van ECK Associates Corp boosted its stake in Neogen Co. (NASDAQ:NEOG) by 0.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 419,743 shares of the company’s stock after buying an additional 2,544 shares during the quarter. Van ECK Associates Corp owned approximately 0.19% of Neogen worth $6,624,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Connable Office Inc. acquired a new stake in shares of Neogen in the 4th quarter valued at $202,000. Moody National Bank Trust Division bought a new stake in Neogen during the first quarter worth about $161,000. Vise Technologies Inc. acquired a new stake in shares of Neogen during the fourth quarter worth approximately $220,000. Washington Trust Advisors Inc. raised its stake in shares of Neogen by 10.1% in the fourth quarter. Washington Trust Advisors Inc. now owns 11,966 shares of the company’s stock valued at $241,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Neogen by 5.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 12,900 shares of the company’s stock worth $259,000 after acquiring an additional 711 shares in the last quarter. 96.73% of the stock is currently owned by institutional investors.

Neogen Stock Up 0.1 %

Shares of NASDAQ NEOG opened at $15.23 on Friday. The company has a quick ratio of 2.66, a current ratio of 3.82 and a debt-to-equity ratio of 0.28. The company has a market cap of $3.30 billion, a price-to-earnings ratio of 1,524.52 and a beta of 1.20. Neogen Co. has a 12-month low of $11.46 and a 12-month high of $24.09. The firm’s 50-day simple moving average is $14.47 and its 200 day simple moving average is $15.68.

Neogen (NASDAQ:NEOG) last announced its earnings results on Tuesday, April 9th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). Neogen had a return on equity of 3.35% and a net margin of 0.17%. The company had revenue of $228.80 million for the quarter, compared to analyst estimates of $230.01 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. Neogen’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, research analysts expect that Neogen Co. will post 0.46 earnings per share for the current fiscal year.

Insider Buying and Selling at Neogen

In other news, CEO John Edward Adent purchased 23,000 shares of the business’s stock in a transaction dated Wednesday, April 10th. The shares were acquired at an average price of $12.36 per share, with a total value of $284,280.00. Following the completion of the purchase, the chief executive officer now directly owns 152,389 shares of the company’s stock, valued at approximately $1,883,528.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Neogen news, CEO John Edward Adent purchased 23,000 shares of the stock in a transaction dated Wednesday, April 10th. The stock was bought at an average price of $12.36 per share, for a total transaction of $284,280.00. Following the transaction, the chief executive officer now directly owns 152,389 shares in the company, valued at $1,883,528.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James C. Borel purchased 7,500 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The shares were acquired at an average cost of $13.06 per share, with a total value of $97,950.00. Following the completion of the purchase, the director now owns 21,392 shares of the company’s stock, valued at $279,379.52. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 53,000 shares of company stock worth $662,205. Insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

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

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.