Neogen Co. (NASDAQ:NEOG) Holdings Boosted by Raymond James & Associates

Raymond James & Associates raised its stake in shares of Neogen Co. (NASDAQ:NEOG) by 21.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 250,342 shares of the company’s stock after buying an additional 44,339 shares during the period. Raymond James & Associates owned about 0.12% of Neogen worth $4,208,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Neogen by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 19,715,974 shares of the company’s stock valued at $311,118,000 after purchasing an additional 169,237 shares during the last quarter. Select Equity Group L.P. raised its position in Neogen by 23.1% in the second quarter. Select Equity Group L.P. now owns 15,530,439 shares of the company’s stock worth $242,741,000 after purchasing an additional 2,914,893 shares in the last quarter. William Blair Investment Management LLC raised its position in Neogen by 64.7% in the second quarter. William Blair Investment Management LLC now owns 12,013,072 shares of the company’s stock worth $187,764,000 after purchasing an additional 4,717,696 shares in the last quarter. Bamco Inc. NY raised its position in Neogen by 10.3% in the first quarter. Bamco Inc. NY now owns 7,304,967 shares of the company’s stock worth $115,272,000 after purchasing an additional 680,668 shares in the last quarter. Finally, Conestoga Capital Advisors LLC increased its holdings in shares of Neogen by 1.9% during the second quarter. Conestoga Capital Advisors LLC now owns 6,994,986 shares of the company’s stock worth $109,332,000 after buying an additional 129,945 shares in the last quarter. Institutional investors and hedge funds own 96.73% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on NEOG. Piper Sandler raised their price objective on shares of Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. StockNews.com raised shares of Neogen to a “sell” rating in a research note on Monday, September 30th.

Neogen Stock Performance

Shares of NEOG opened at $14.44 on Friday. The company has a market cap of $3.13 billion, a PE ratio of -131.27 and a beta of 1.23. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.41 and a quick ratio of 2.79. The firm has a 50-day moving average of $15.55 and a 200-day moving average of $15.20. Neogen Co. has a one year low of $11.46 and a one year high of $20.89.

Neogen (NASDAQ:NEOG) last issued its earnings results on Thursday, October 10th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.03). The firm had revenue of $217.00 million during the quarter, compared to analyst estimates of $215.05 million. Neogen had a negative net margin of 2.58% and a positive return on equity of 2.80%. Neogen’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.11 earnings per share. As a group, equities analysts forecast that Neogen Co. will post 0.52 earnings per share for the current year.

Insider Activity

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