Roubaix Capital LLC Acquires 29,312 Shares of Neogen Co. (NASDAQ:NEOG)

Roubaix Capital LLC raised its holdings in Neogen Co. (NASDAQ:NEOG) by 10.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 317,739 shares of the company’s stock after buying an additional 29,312 shares during the period. Neogen makes up approximately 2.9% of Roubaix Capital LLC’s portfolio, making the stock its 6th largest position. Roubaix Capital LLC owned 0.15% of Neogen worth $5,341,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Covestor Ltd raised its holdings in Neogen by 173.2% in the first quarter. Covestor Ltd now owns 1,970 shares of the company’s stock valued at $31,000 after acquiring an additional 1,249 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Neogen by 142.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company’s stock valued at $33,000 after purchasing an additional 1,165 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Neogen in the 2nd quarter valued at $46,000. Headlands Technologies LLC lifted its position in shares of Neogen by 264.1% during the 2nd quarter. Headlands Technologies LLC now owns 3,397 shares of the company’s stock worth $53,000 after purchasing an additional 2,464 shares during the last quarter. Finally, Family Firm Inc. acquired a new position in shares of Neogen during the second quarter worth $90,000. Institutional investors and hedge funds own 96.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. StockNews.com upgraded Neogen to a “sell” rating in a research note on Monday, September 30th. Piper Sandler raised their target price on Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th.

Insiders Place Their Bets

In other Neogen news, CEO John Edward Adent bought 14,500 shares of Neogen stock in a transaction dated Friday, October 11th. The stock was acquired at an average cost of $13.80 per share, with a total value of $200,100.00. Following the completion of the acquisition, the chief executive officer now owns 216,477 shares of the company’s stock, valued at approximately $2,987,382.60. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director James P. Tobin acquired 3,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were purchased at an average cost of $16.86 per share, for a total transaction of $50,580.00. Following the transaction, the director now directly owns 23,392 shares in the company, valued at approximately $394,389.12. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John Edward Adent acquired 14,500 shares of the company’s stock in a transaction on Friday, October 11th. The stock was purchased at an average cost of $13.80 per share, for a total transaction of $200,100.00. Following the completion of the purchase, the chief executive officer now directly owns 216,477 shares in the company, valued at $2,987,382.60. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.13% of the stock is currently owned by corporate insiders.

Neogen Stock Up 1.6 %

Shares of NASDAQ:NEOG opened at $14.57 on Thursday. The company has a current ratio of 4.41, a quick ratio of 2.79 and a debt-to-equity ratio of 0.28. The firm has a 50 day simple moving average of $15.63 and a 200-day simple moving average of $15.19. The company has a market capitalization of $3.16 billion, a PE ratio of -132.45 and a beta of 1.21. Neogen Co. has a twelve month low of $11.46 and a twelve month high of $20.89.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings results on Thursday, October 10th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). Neogen had a negative net margin of 2.58% and a positive return on equity of 2.80%. The company had revenue of $217.00 million during the quarter, compared to analysts’ expectations of $215.05 million. During the same period last year, the firm earned $0.11 earnings per share. Neogen’s revenue was down 5.2% on a year-over-year basis. On average, equities analysts predict that Neogen Co. will post 0.52 EPS for the current fiscal year.

Neogen Company 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.