Bank of Montreal Can Increases Holdings in Neogen Co. (NASDAQ:NEOG)

Bank of Montreal Can boosted its position in Neogen Co. (NASDAQ:NEOG) by 77.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,633 shares of the company’s stock after purchasing an additional 34,234 shares during the period. Bank of Montreal Can’s holdings in Neogen were worth $1,266,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NEOG. Sei Investments Co. increased its holdings in Neogen by 4.7% during the 2nd quarter. Sei Investments Co. now owns 433,825 shares of the company’s stock valued at $6,781,000 after acquiring an additional 19,589 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of Neogen during the 2nd quarter worth approximately $454,000. Inspire Investing LLC raised its position in shares of Neogen by 2.7% during the 2nd quarter. Inspire Investing LLC now owns 26,074 shares of the company’s stock worth $408,000 after purchasing an additional 685 shares during the last quarter. Blair William & Co. IL lifted its stake in Neogen by 24.1% in the 2nd quarter. Blair William & Co. IL now owns 3,487,126 shares of the company’s stock valued at $54,504,000 after buying an additional 678,202 shares in the last quarter. Finally, Argent Trust Co acquired a new stake in Neogen during the 2nd quarter valued at $403,000. 96.73% of the stock is owned by institutional investors and hedge funds.

Neogen Stock Up 0.9 %

Shares of NASDAQ NEOG opened at $15.07 on Friday. The firm’s 50 day moving average price is $16.48 and its 200 day moving average price is $15.22. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.59 and a current ratio of 3.82. The firm has a market cap of $3.26 billion, a P/E ratio of 1,507.00 and a beta of 1.21. Neogen Co. has a 1 year low of $11.46 and a 1 year high of $20.89.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings data 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 negative net margin of 1.02% and a positive return on equity of 3.09%. The business had revenue of $236.80 million during the quarter, compared to analysts’ expectations of $225.83 million. During the same period in the prior year, the firm earned $0.14 EPS. Neogen’s revenue for the quarter was down 2.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Neogen Co. will post 0.54 earnings per share for the current year.

Insider Buying and Selling

In related news, Director James P. Tobin acquired 3,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was bought at an average cost of $16.86 per share, with a total value of $50,580.00. Following the purchase, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.71% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

NEOG has been the subject of a number of analyst reports. StockNews.com raised Neogen to a “sell” rating in a report on Monday, September 30th. Piper Sandler upped their target price on shares of Neogen from $17.00 to $17.50 and gave the company a “neutral” rating in a report on Tuesday, August 6th.

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.