Commonwealth Equity Services LLC Has $573,000 Holdings in Neogen Co. (NASDAQ:NEOG)

Commonwealth Equity Services LLC boosted its stake in Neogen Co. (NASDAQ:NEOG) by 3.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,630 shares of the company’s stock after purchasing an additional 1,190 shares during the period. Commonwealth Equity Services LLC’s holdings in Neogen were worth $573,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of NEOG. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Neogen by 67.5% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 616,190 shares of the company’s stock valued at $9,723,000 after buying an additional 248,340 shares during the period. Trigran Investments Inc. bought a new position in Neogen during the 4th quarter worth approximately $12,048,000. SG Americas Securities LLC lifted its position in shares of Neogen by 277.1% in the 1st quarter. SG Americas Securities LLC now owns 45,558 shares of the company’s stock worth $719,000 after purchasing an additional 33,478 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Neogen by 73.4% in the 1st quarter. BNP Paribas Financial Markets now owns 115,830 shares of the company’s stock valued at $1,828,000 after purchasing an additional 49,041 shares during the last quarter. Finally, Connable Office Inc. acquired a new stake in shares of Neogen during the fourth quarter worth $202,000. 96.73% of the stock is owned by institutional investors.

Insider Activity at Neogen

In other news, Director James P. Tobin acquired 3,000 shares of Neogen stock in a transaction on Tuesday, August 6th. The stock was purchased at an average price of $16.86 per share, with a total value of $50,580.00. Following the completion of the purchase, the director now owns 23,392 shares of the company’s stock, valued at approximately $394,389.12. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.71% of the stock is currently owned by corporate insiders.

Neogen Stock Performance

Shares of NEOG stock opened at $17.46 on Friday. The firm has a 50 day moving average of $16.61 and a 200-day moving average of $15.20. The company has a market cap of $3.78 billion, a price-to-earnings ratio of 1,738.00 and a beta of 1.21. The company has a quick ratio of 2.59, a current ratio of 3.82 and a debt-to-equity ratio of 0.28. Neogen Co. has a 52 week low of $11.46 and a 52 week high of $20.89.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). Neogen had a positive return on equity of 3.09% and a negative net margin of 1.02%. The company had revenue of $236.80 million during the quarter, compared to analyst estimates of $225.83 million. During the same quarter in the previous year, the business posted $0.14 earnings per share. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. On average, equities analysts forecast that Neogen Co. will post 0.54 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on NEOG shares. StockNews.com upgraded shares of Neogen to a “sell” rating in a report on Friday, September 13th. Piper Sandler boosted their price objective on Neogen from $17.00 to $17.50 and gave the company a “neutral” rating in a research note on Tuesday, August 6th.

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.