Wealth Enhancement Advisory Services LLC Has $417,000 Stake in Neogen Co. (NASDAQ:NEOG)

Wealth Enhancement Advisory Services LLC decreased its position in shares of Neogen Co. (NASDAQ:NEOG) by 6.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,324 shares of the company’s stock after selling 2,184 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Neogen were worth $417,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of NEOG. Blue Trust Inc. increased its holdings in shares of Neogen by 247.6% during the fourth quarter. Blue Trust Inc. now owns 3,945 shares of the company’s stock worth $48,000 after buying an additional 2,810 shares in the last quarter. Bank Pictet & Cie Europe AG increased its holdings in shares of Neogen by 6.5% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 132,000 shares of the company’s stock worth $1,602,000 after buying an additional 8,000 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Neogen by 0.7% during the fourth quarter. Rhumbline Advisers now owns 699,490 shares of the company’s stock worth $8,492,000 after buying an additional 4,890 shares in the last quarter. State of New Jersey Common Pension Fund D increased its holdings in shares of Neogen by 19.2% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 139,110 shares of the company’s stock worth $1,689,000 after buying an additional 22,429 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Neogen by 1.8% in the fourth quarter. Principal Financial Group Inc. now owns 590,327 shares of the company’s stock valued at $7,167,000 after purchasing an additional 10,254 shares in the last quarter. Institutional investors and hedge funds own 96.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on NEOG shares. Piper Sandler lowered their price target on shares of Neogen from $6.40 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, April 22nd. Guggenheim lowered their price target on shares of Neogen from $15.00 to $13.00 and set a “buy” rating for the company in a report on Thursday, April 10th.

Insider Buying and Selling at Neogen

In other Neogen news, CAO John Patrick Moylan acquired 10,000 shares of Neogen stock in a transaction on Thursday, April 10th. The shares were purchased at an average cost of $5.07 per share, with a total value of $50,700.00. Following the completion of the purchase, the chief accounting officer now owns 10,000 shares in the company, valued at $50,700. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Aashima Gupta acquired 16,000 shares of Neogen stock in a transaction on Monday, May 12th. The stock was acquired at an average cost of $6.25 per share, for a total transaction of $100,000.00. Following the completion of the purchase, the director now owns 21,917 shares of the company’s stock, valued at approximately $136,981.25. The trade was a 270.41% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 83,500 shares of company stock valued at $431,525. 1.13% of the stock is currently owned by insiders.

Neogen Stock Performance

Shares of Neogen stock opened at $5.53 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.77 and a quick ratio of 2.46. The firm has a market cap of $1.20 billion, a P/E ratio of -2.53 and a beta of 1.84. The firm has a 50 day simple moving average of $5.62 and a 200 day simple moving average of $9.11. Neogen Co. has a fifty-two week low of $3.87 and a fifty-two week high of $18.58.

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

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.