IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 19,640 Shares of Neogen Co. (NASDAQ:NEOG)

IQ EQ FUND MANAGEMENT IRELAND Ltd cut its stake in Neogen Co. (NASDAQ:NEOG) by 12.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 138,852 shares of the company’s stock after selling 19,640 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Neogen were worth $1,686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Connable Office Inc. boosted its stake in Neogen by 5.6% in the 4th quarter. Connable Office Inc. now owns 18,793 shares of the company’s stock valued at $228,000 after purchasing an additional 1,000 shares during the period. Inspire Advisors LLC boosted its position in shares of Neogen by 10.1% in the fourth quarter. Inspire Advisors LLC now owns 14,226 shares of the company’s stock valued at $173,000 after acquiring an additional 1,304 shares during the period. Blue Trust Inc. boosted its position in shares of Neogen by 196.7% in the fourth quarter. Blue Trust Inc. now owns 3,368 shares of the company’s stock valued at $41,000 after acquiring an additional 2,233 shares during the period. Harbour Investments Inc. bought a new position in Neogen during the fourth quarter worth about $27,000. Finally, Commonwealth Equity Services LLC raised its stake in Neogen by 6.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 39,263 shares of the company’s stock worth $477,000 after purchasing an additional 2,267 shares in the last quarter. Institutional investors and hedge funds own 96.73% of the company’s stock.

Analyst Ratings Changes

NEOG has been the topic of a number of analyst reports. Guggenheim started coverage on shares of Neogen in a research report on Thursday, December 19th. They set a “buy” rating and a $15.00 target price on the stock. Piper Sandler restated a “neutral” rating and set a $13.00 price objective (down previously from $16.50) on shares of Neogen in a research note on Tuesday, January 21st.

Neogen Trading Up 6.3 %

Shares of Neogen stock opened at $8.96 on Friday. The company has a quick ratio of 2.46, a current ratio of 3.77 and a debt-to-equity ratio of 0.33. Neogen Co. has a 12-month low of $8.31 and a 12-month high of $18.58. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of -4.09 and a beta of 1.27. The firm’s 50-day moving average price is $10.20 and its two-hundred day moving average price is $12.80.

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

Insider Activity

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

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.