IQ EQ FUND MANAGEMENT IRELAND Ltd Purchases New Stake in Neogen Co. (NASDAQ:NEOG)

IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in shares of Neogen Co. (NASDAQ:NEOG - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 158,492 shares of the company's stock, valued at approximately $2,664,000. IQ EQ FUND MANAGEMENT IRELAND Ltd owned approximately 0.07% of Neogen as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Procyon Advisors LLC grew its stake in shares of Neogen by 21.8% in the third quarter. Procyon Advisors LLC now owns 29,046 shares of the company's stock valued at $488,000 after buying an additional 5,208 shares in the last quarter. Inspire Investing LLC grew its stake in shares of Neogen by 6.6% in the third quarter. Inspire Investing LLC now owns 27,803 shares of the company's stock valued at $467,000 after buying an additional 1,729 shares in the last quarter. Diversified Trust Co grew its stake in shares of Neogen by 22.0% in the third quarter. Diversified Trust Co now owns 69,485 shares of the company's stock valued at $1,168,000 after buying an additional 12,545 shares in the last quarter. Handelsbanken Fonder AB grew its stake in shares of Neogen by 11.4% in the third quarter. Handelsbanken Fonder AB now owns 64,264 shares of the company's stock valued at $1,080,000 after buying an additional 6,600 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Neogen in the third quarter valued at $1,086,000. 96.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. StockNews.com raised shares of Neogen to a "sell" rating in a research report on Monday, September 30th. Piper Sandler lifted their price objective on shares of Neogen from $17.00 to $17.50 and gave the stock a "neutral" rating in a research report on Tuesday, August 6th.

Insider Transactions at Neogen

In other news, CEO John Edward Adent bought 14,500 shares of the company's stock in a transaction dated Friday, October 11th. The stock was bought at an average price 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 $2,987,382.60. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO John Edward Adent bought 14,500 shares of the company's stock in a transaction dated Friday, October 11th. The stock was bought at an average price 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 $2,987,382.60. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director James P. Tobin bought 3,000 shares of the company's stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average cost of $16.86 per share, with a total value of $50,580.00. Following the acquisition, the director now directly owns 23,392 shares of the company's stock, valued at approximately $394,389.12. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.71% of the company's stock.

Neogen Stock Performance

NEOG stock traded down $0.15 during midday trading on Thursday, reaching $14.46. 888,292 shares of the company were exchanged, compared to its average volume of 1,960,458. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.82 and a quick ratio of 2.59. The business has a 50-day moving average price of $16.10 and a two-hundred day moving average price of $15.17. Neogen Co. has a one year low of $11.46 and a one year high of $20.89. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of 1,441.00 and a beta of 1.21.

Neogen (NASDAQ:NEOG - Get Free Report) last released its quarterly earnings data on Thursday, October 10th. The company reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.03). Neogen had a positive return on equity of 3.09% and a negative net margin of 1.02%. The company had revenue of $217.00 million for the quarter, compared to the consensus estimate of $215.05 million. During the same period last year, the firm earned $0.11 earnings per share. The company's revenue for the quarter was down 5.2% compared to the same quarter last year. Equities research analysts forecast that Neogen Co. will post 0.54 EPS for the current year.

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.