Simmons Bank Purchases 4,850 Shares of Neogen Co. (NASDAQ:NEOG)

Simmons Bank boosted its holdings in Neogen Co. (NASDAQ:NEOG) by 24.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,590 shares of the company’s stock after purchasing an additional 4,850 shares during the quarter. Simmons Bank’s holdings in Neogen were worth $495,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of NEOG. Mackenzie Financial Corp increased its position in shares of Neogen by 9.3% during the fourth quarter. Mackenzie Financial Corp now owns 5,868,784 shares of the company’s stock valued at $118,021,000 after acquiring an additional 497,856 shares during the last quarter. FMR LLC raised its stake in shares of Neogen by 0.9% during the 3rd quarter. FMR LLC now owns 1,915,751 shares of the company’s stock worth $35,518,000 after purchasing an additional 16,414 shares during the period. Inspire Investing LLC boosted its holdings in shares of Neogen by 99.3% in the 3rd quarter. Inspire Investing LLC now owns 33,979 shares of the company’s stock worth $630,000 after buying an additional 16,930 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Neogen by 77.3% during the fourth quarter. Pacer Advisors Inc. now owns 29,849 shares of the company’s stock worth $600,000 after buying an additional 13,013 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in Neogen by 194.2% in the fourth quarter. Fifth Third Bancorp now owns 29,326 shares of the company’s stock worth $590,000 after acquiring an additional 19,359 shares during the period. Institutional investors and hedge funds own 96.73% of the company’s stock.

Insider Activity

In other news, CFO David H. Naemura acquired 12,500 shares of the business’s stock in a transaction dated Wednesday, April 10th. The stock was bought at an average cost of $12.51 per share, for a total transaction of $156,375.00. Following the completion of the transaction, the chief financial officer now owns 30,040 shares of the company’s stock, valued at $375,800.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director James C. Borel bought 7,500 shares of the company’s stock in a transaction on Thursday, April 11th. The stock was acquired at an average cost of $13.06 per share, for a total transaction of $97,950.00. Following the completion of the transaction, the director now directly owns 21,392 shares in the company, valued at approximately $279,379.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David H. Naemura bought 12,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The stock was bought at an average price of $12.51 per share, with a total value of $156,375.00. Following the completion of the transaction, the chief financial officer now directly owns 30,040 shares of the company’s stock, valued at approximately $375,800.40. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 53,000 shares of company stock worth $662,205. 0.71% of the stock is owned by corporate insiders.

Neogen Stock Performance

Shares of NEOG stock traded down $0.38 on Wednesday, hitting $12.03. 1,433,464 shares of the stock were exchanged, compared to its average volume of 2,150,820. The firm has a market capitalization of $2.61 billion, a PE ratio of 1,242.24 and a beta of 1.18. Neogen Co. has a one year low of $11.46 and a one year high of $24.09. The company has a current ratio of 3.82, a quick ratio of 2.66 and a debt-to-equity ratio of 0.28. The firm’s 50 day moving average is $14.22 and its two-hundred day moving average is $16.19.

Neogen (NASDAQ:NEOG) last posted its quarterly 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 net margin of 0.17% and a return on equity of 3.35%. The business had revenue of $228.80 million during the quarter, compared to the consensus estimate of $230.01 million. During the same period last year, the firm earned $0.12 EPS. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. Sell-side analysts expect that Neogen Co. will post 0.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

About Neogen

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.