Citigroup Inc. Increases Position in Neogen Co. (NASDAQ:NEOG)

Citigroup Inc. increased its stake in shares of Neogen Co. (NASDAQ:NEOG) by 129.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 231,833 shares of the company’s stock after buying an additional 130,641 shares during the quarter. Citigroup Inc. owned about 0.11% of Neogen worth $3,897,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Inspire Investing LLC grew its holdings in shares of Neogen by 2.7% during the second quarter. Inspire Investing LLC now owns 26,074 shares of the company’s stock valued at $408,000 after buying an additional 685 shares during the last quarter. Stephens Inc. AR boosted its holdings in Neogen by 2.6% in the third quarter. Stephens Inc. AR now owns 35,930 shares of the company’s stock valued at $604,000 after purchasing an additional 909 shares during the last quarter. Arizona State Retirement System boosted its holdings in Neogen by 1.9% in the second quarter. Arizona State Retirement System now owns 57,609 shares of the company’s stock valued at $900,000 after purchasing an additional 1,079 shares during the last quarter. Allspring Global Investments Holdings LLC boosted 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 valued at $33,000 after purchasing an additional 1,165 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in Neogen by 3.4% in the second quarter. Commonwealth Equity Services LLC now owns 36,630 shares of the company’s stock valued at $573,000 after purchasing an additional 1,190 shares during the last quarter. 96.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO John Edward Adent purchased 14,500 shares of Neogen stock in a transaction that occurred on Friday, October 11th. The stock was purchased at an average price of $13.80 per share, for a total transaction of $200,100.00. Following the transaction, the chief executive officer now directly owns 216,477 shares in the company, valued at approximately $2,987,382.60. This trade represents a 7.18 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.13% of the company’s stock.

Neogen Trading Down 3.8 %

Shares of Neogen stock opened at $13.25 on Wednesday. The firm has a 50-day simple moving average of $14.89 and a two-hundred day simple moving average of $15.63. The company has a market cap of $2.87 billion, a P/E ratio of -120.45 and a beta of 1.21. Neogen Co. has a fifty-two week low of $11.46 and a fifty-two week high of $20.89. 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 (NASDAQ:NEOG) last issued its quarterly earnings data on Thursday, October 10th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). Neogen had a positive return on equity of 2.80% and a negative net margin of 2.58%. The firm had revenue of $217.00 million during the quarter, compared to analyst estimates of $215.05 million. During the same quarter last year, the company posted $0.11 EPS. The company’s revenue was down 5.2% on a year-over-year basis. As a group, equities analysts predict that Neogen Co. will post 0.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on NEOG shares. Piper Sandler upped their price target on shares of Neogen from $17.00 to $17.50 and gave the company a “neutral” rating in a report on Tuesday, August 6th. StockNews.com upgraded shares of Neogen to a “sell” rating in a research report on Monday, September 30th.

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.