Headlands Technologies LLC Purchases 2,464 Shares of Neogen Co. (NASDAQ:NEOG)

Headlands Technologies LLC boosted its holdings in shares of Neogen Co. (NASDAQ:NEOG) by 264.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,397 shares of the company’s stock after acquiring an additional 2,464 shares during the period. Headlands Technologies LLC’s holdings in Neogen were worth $53,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Covestor Ltd grew its position in shares of Neogen by 173.2% in the 1st quarter. Covestor Ltd now owns 1,970 shares of the company’s stock valued at $31,000 after purchasing an additional 1,249 shares during the period. Innealta Capital LLC acquired a new position in shares of Neogen in the second quarter valued at approximately $46,000. Family Firm Inc. bought a new stake in shares of Neogen during the second quarter worth $90,000. Quantum Private Wealth LLC acquired a new stake in shares of Neogen during the second quarter worth $156,000. Finally, Connable Office Inc. bought a new stake in Neogen in the 4th quarter valued at $202,000. 96.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on NEOG shares. StockNews.com upgraded Neogen to a “sell” rating in a report on Friday. Piper Sandler lifted their target price on Neogen from $17.00 to $17.50 and gave the company a “neutral” rating in a research report on Tuesday, August 6th.

Neogen Stock Performance

Shares of NEOG stock opened at $16.34 on Tuesday. The firm has a market cap of $3.54 billion, a PE ratio of 1,634.00 and a beta of 1.21. Neogen Co. has a 12 month low of $11.46 and a 12 month high of $20.89. The company’s fifty day simple moving average is $16.50 and its 200-day simple moving average is $15.17. 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 (NASDAQ:NEOG) last posted 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). The business had revenue of $236.80 million for the quarter, compared to analyst estimates of $225.83 million. Neogen had a positive return on equity of 3.09% and a negative net margin of 1.02%. The company’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.14 earnings per share. Equities research analysts expect that Neogen Co. will post 0.54 EPS for the current fiscal year.

Insider Buying and Selling at Neogen

In related news, Director James P. Tobin acquired 3,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were bought at an average price of $16.86 per share, for a total transaction of $50,580.00. Following the purchase, the director now directly owns 23,392 shares in the company, valued at approximately $394,389.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.71% of the company’s stock.

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.