Natixis Advisors LLC Grows Stock Holdings in Neogen Co. (NASDAQ:NEOG)

Natixis Advisors LLC lifted its position in Neogen Co. (NASDAQ:NEOG) by 35.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 96,374 shares of the company’s stock after buying an additional 25,061 shares during the period. Natixis Advisors LLC’s holdings in Neogen were worth $1,620,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of NEOG. Allspring Global Investments Holdings LLC grew its holdings in Neogen by 142.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company’s stock worth $33,000 after purchasing an additional 1,165 shares during the last quarter. Innealta Capital LLC acquired a new position in Neogen during the 2nd quarter valued at about $46,000. Headlands Technologies LLC raised its stake in Neogen by 264.1% in the second quarter. Headlands Technologies LLC now owns 3,397 shares of the company’s stock valued at $53,000 after buying an additional 2,464 shares during the last quarter. Family Firm Inc. acquired a new stake in Neogen in the second quarter worth about $90,000. Finally, Quantum Private Wealth LLC purchased a new stake in shares of Neogen during the second quarter worth about $156,000. Institutional investors own 96.73% of the company’s stock.

Neogen Stock Up 2.2 %

Shares of NEOG stock opened at $15.31 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.79 and a current ratio of 4.41. Neogen Co. has a fifty-two week low of $11.46 and a fifty-two week high of $20.89. The firm has a market capitalization of $3.32 billion, a PE ratio of -139.18 and a beta of 1.23. The stock’s 50-day simple moving average is $15.21 and its 200-day simple moving average is $15.59.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings results on Thursday, October 10th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). The business had revenue of $217.00 million for the quarter, compared to analysts’ expectations of $215.05 million. Neogen had a positive return on equity of 2.80% and a negative net margin of 2.58%. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.11 earnings per share. Equities analysts expect that Neogen Co. will post 0.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NEOG. Piper Sandler lifted their target price on shares of Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. StockNews.com upgraded shares of Neogen to a “sell” rating in a research note on Monday, September 30th.

Insider Buying and Selling at Neogen

In related news, CEO John Edward Adent purchased 14,500 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was bought at an average cost 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. The trade was a 7.18 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.13% of the stock is owned by corporate insiders.

About Neogen

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.