Private Trust Co. NA Sells 18,631 Shares of Neogen Co. (NASDAQ:NEOG)

Private Trust Co. NA lessened its holdings in Neogen Co. (NASDAQ:NEOG) by 31.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 41,528 shares of the company’s stock after selling 18,631 shares during the period. Private Trust Co. NA’s holdings in Neogen were worth $655,000 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. Norges Bank bought a new position in Neogen during the 4th quarter worth $365,794,000. Baillie Gifford & Co. bought a new position in Neogen during the fourth quarter worth about $166,646,000. Vanguard Group Inc. boosted its holdings in Neogen by 9.3% in the 4th quarter. Vanguard Group Inc. now owns 19,546,737 shares of the company’s stock valued at $393,085,000 after purchasing an additional 1,663,125 shares during the period. Comerica Bank grew its position in shares of Neogen by 917.8% during the 3rd quarter. Comerica Bank now owns 671,621 shares of the company’s stock worth $12,452,000 after purchasing an additional 605,635 shares in the last quarter. Finally, Trigran Investments Inc. bought a new position in shares of Neogen during the fourth quarter worth approximately $12,048,000. 96.73% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director James C. Borel purchased 7,500 shares of Neogen stock in a transaction dated Thursday, April 11th. The shares were bought at an average cost of $13.06 per share, for a total transaction of $97,950.00. Following the purchase, the director now owns 21,392 shares in the company, valued at approximately $279,379.52. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director James C. Borel purchased 7,500 shares of the company’s stock in a transaction dated Thursday, April 11th. The stock was bought at an average cost of $13.06 per share, for a total transaction of $97,950.00. Following the purchase, the director now owns 21,392 shares of the company’s stock, valued at $279,379.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Douglas Edward Jones acquired 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The shares were purchased at an average cost of $12.36 per share, for a total transaction of $123,600.00. Following the acquisition, the chief operating officer now owns 46,131 shares in the company, valued at $570,179.16. The disclosure for this purchase can be found here. Insiders acquired a total of 53,000 shares of company stock worth $662,205 in the last ninety days. 0.71% of the stock is owned by insiders.

Neogen Price Performance

Shares of NASDAQ:NEOG traded down $0.23 during midday trading on Thursday, hitting $13.30. The stock had a trading volume of 1,344,436 shares, compared to its average volume of 2,121,647. The company’s 50-day moving average price is $13.39 and its 200-day moving average price is $16.00. Neogen Co. has a fifty-two week low of $11.46 and a fifty-two 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 company has a market capitalization of $2.88 billion, a P/E ratio of 1,331.33 and a beta of 1.18.

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

Analysts Set New Price Targets

Separately, Piper Sandler cut their price target on Neogen from $19.00 to $17.00 and set a “neutral” rating for the company in a research note 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.