CHICAGO TRUST Co NA Acquires 2,000 Shares of Neogen Co. (NASDAQ:NEOG)

CHICAGO TRUST Co NA raised its holdings in shares of Neogen Co. (NASDAQ:NEOG) by 19.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,498 shares of the company’s stock after purchasing an additional 2,000 shares during the period. CHICAGO TRUST Co NA’s holdings in Neogen were worth $108,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NEOG. Wesbanco Bank Inc. raised its holdings in shares of Neogen by 64.8% during the first quarter. Wesbanco Bank Inc. now owns 99,160 shares of the company’s stock valued at $860,000 after acquiring an additional 39,004 shares in the last quarter. First Citizens Bank & Trust Co. bought a new position in Neogen in the 1st quarter worth $153,000. GAMMA Investing LLC raised its holdings in Neogen by 4,700.8% in the 1st quarter. GAMMA Investing LLC now owns 18,675 shares of the company’s stock worth $162,000 after purchasing an additional 18,286 shares in the last quarter. Moody National Bank Trust Division raised its holdings in Neogen by 163.2% in the 1st quarter. Moody National Bank Trust Division now owns 39,136 shares of the company’s stock worth $339,000 after purchasing an additional 24,268 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in Neogen by 1,495.4% in the 1st quarter. Versant Capital Management Inc now owns 3,127 shares of the company’s stock worth $27,000 after purchasing an additional 2,931 shares in the last quarter. Institutional investors own 96.73% of the company’s stock.

Insider Buying and Selling at Neogen

In related news, Director James C. Borel acquired 35,000 shares of Neogen stock in a transaction that occurred on Thursday, April 24th. The stock was bought at an average price of $4.89 per share, with a total value of $171,150.00. Following the transaction, the director now directly owns 60,474 shares in the company, valued at approximately $295,717.86. This represents a 137.39% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James P. Tobin purchased 10,000 shares of Neogen stock in a transaction dated Tuesday, April 22nd. The shares were bought at an average price of $4.73 per share, with a total value of $47,300.00. Following the completion of the acquisition, the director now directly owns 37,474 shares of the company’s stock, valued at approximately $177,252.02. This represents a 36.40% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 83,500 shares of company stock valued at $431,525. Corporate insiders own 1.13% of the company’s stock.

Neogen Price Performance

NEOG opened at $5.52 on Tuesday. The stock has a fifty day simple moving average of $5.78 and a two-hundred day simple moving average of $9.29. The company has a current ratio of 3.77, a quick ratio of 2.46 and a debt-to-equity ratio of 0.33. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -2.52 and a beta of 1.84. Neogen Co. has a 12-month low of $3.87 and a 12-month high of $18.58.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings results on Wednesday, April 9th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.02). The business had revenue of $221.00 million during the quarter, compared to the consensus estimate of $225.27 million. Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. The firm’s revenue was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.12 earnings per share. Research analysts predict that Neogen Co. will post 0.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

NEOG has been the subject of a number of research reports. Guggenheim decreased their price target on shares of Neogen from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Piper Sandler decreased their target price on Neogen from $6.40 to $5.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd.

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.