IQ EQ FUND MANAGEMENT IRELAND Ltd Has $1.69 Million Stock Holdings in Neogen Co. (NASDAQ:NEOG)

IQ EQ FUND MANAGEMENT IRELAND Ltd lowered its position in shares of Neogen Co. (NASDAQ:NEOG) by 12.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 138,852 shares of the company’s stock after selling 19,640 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd owned 0.06% of Neogen worth $1,686,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Citigroup Inc. lifted its holdings in shares of Neogen by 129.1% during the 3rd quarter. Citigroup Inc. now owns 231,833 shares of the company’s stock valued at $3,897,000 after purchasing an additional 130,641 shares in the last quarter. American Capital Management Inc. lifted its stake in Neogen by 36.5% in the third quarter. American Capital Management Inc. now owns 3,414,700 shares of the company’s stock valued at $57,401,000 after buying an additional 913,604 shares in the last quarter. Private Advisor Group LLC boosted its holdings in shares of Neogen by 135.3% in the fourth quarter. Private Advisor Group LLC now owns 67,298 shares of the company’s stock valued at $817,000 after buying an additional 38,703 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Neogen by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,061,927 shares of the company’s stock worth $25,032,000 after acquiring an additional 52,663 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Neogen by 3.1% during the third quarter. State Street Corp now owns 7,932,192 shares of the company’s stock worth $133,340,000 after acquiring an additional 236,762 shares during the period. Institutional investors own 96.73% of the company’s stock.

Neogen Stock Up 6.3 %

Shares of NEOG stock opened at $8.96 on Friday. The firm’s fifty day moving average price is $10.20 and its two-hundred day moving average price is $12.80. The company has a current ratio of 3.77, a quick ratio of 2.46 and a debt-to-equity ratio of 0.33. Neogen Co. has a 1 year low of $8.31 and a 1 year high of $18.58. The firm has a market capitalization of $1.94 billion, a P/E ratio of -4.09 and a beta of 1.27.

Neogen (NASDAQ:NEOG) last released its earnings results on Friday, January 10th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.12. Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. The business had revenue of $231.30 million for the quarter, compared to the consensus estimate of $227.16 million. During the same quarter in the previous year, the business earned $0.11 earnings per share. Neogen’s quarterly revenue was up .7% on a year-over-year basis. On average, equities analysts predict that Neogen Co. will post 0.38 EPS for the current fiscal year.

Analysts Set New Price Targets

NEOG has been the subject of a number of research reports. Guggenheim began coverage on Neogen in a report on Thursday, December 19th. They set a “buy” rating and a $15.00 target price for the company. Piper Sandler reissued a “neutral” rating and issued a $13.00 target price (down previously from $16.50) on shares of Neogen in a research report on Tuesday, January 21st.

Insider Transactions at Neogen

In other news, CEO John Edward Adent acquired 23,035 shares of the stock in a transaction dated Thursday, January 16th. The shares were bought at an average cost of $11.03 per share, for a total transaction of $254,076.05. Following the purchase, the chief executive officer now directly owns 269,164 shares of the company’s stock, valued at approximately $2,968,878.92. This trade represents a 9.36 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David H. Naemura bought 14,800 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was purchased at an average price of $11.11 per share, with a total value of $164,428.00. Following the completion of the purchase, the chief financial officer now directly owns 61,434 shares in the company, valued at $682,531.74. The trade was a 31.74 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.13% of the company’s stock.

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.