OLD National Bancorp IN Raises Stock Holdings in Neogen Co. (NASDAQ:NEOG)

OLD National Bancorp IN raised its position in shares of Neogen Co. (NASDAQ:NEOG) by 28.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,400 shares of the company’s stock after acquiring an additional 3,605 shares during the period. OLD National Bancorp IN’s holdings in Neogen were worth $330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of NEOG. Allspring Global Investments Holdings LLC increased its position in shares of Neogen by 416.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,033 shares of the company’s stock valued at $56,000 after purchasing an additional 2,446 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new position in shares of Neogen during the 3rd quarter valued at approximately $151,000. Fifth Third Bancorp increased its position in shares of Neogen by 10.7% during the 3rd quarter. Fifth Third Bancorp now owns 9,967 shares of the company’s stock valued at $185,000 after purchasing an additional 966 shares during the last quarter. Savant Capital LLC increased its position in shares of Neogen by 9.4% during the 3rd quarter. Savant Capital LLC now owns 10,320 shares of the company’s stock valued at $191,000 after purchasing an additional 889 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new position in shares of Neogen during the 3rd quarter valued at approximately $201,000. 96.73% of the stock is owned by hedge funds and other institutional investors.

Neogen Stock Performance

Shares of Neogen stock opened at $11.96 on Friday. Neogen Co. has a 52 week low of $11.46 and a 52 week high of $24.09. 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 stock’s fifty day moving average is $15.02 and its two-hundred day moving average is $16.36. The company has a market capitalization of $2.59 billion, a PE ratio of 1,197.20 and a beta of 1.13.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings data on Tuesday, April 9th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). The company had revenue of $228.80 million for the quarter, compared to analysts’ expectations of $230.01 million. Neogen had a return on equity of 3.35% and a net margin of 0.17%. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.12 earnings per share. As a group, analysts expect that Neogen Co. will post 0.5 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Neogen

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

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.