Neogen Co. (NASDAQ:NEOG) Shares Acquired by Atria Investments Inc

Atria Investments Inc raised its holdings in shares of Neogen Co. (NASDAQ:NEOG) by 29.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,417 shares of the company’s stock after acquiring an additional 7,408 shares during the quarter. Atria Investments Inc’s holdings in Neogen were worth $545,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Covestor Ltd boosted its position in shares of Neogen by 173.2% during the 1st quarter. Covestor Ltd now owns 1,970 shares of the company’s stock worth $31,000 after acquiring an additional 1,249 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Neogen by 142.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company’s stock worth $33,000 after acquiring an additional 1,165 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Neogen during the 2nd quarter worth about $46,000. Headlands Technologies LLC boosted its position in shares of Neogen by 264.1% during the 2nd quarter. Headlands Technologies LLC now owns 3,397 shares of the company’s stock worth $53,000 after acquiring an additional 2,464 shares in the last quarter. Finally, Family Firm Inc. acquired a new position in shares of Neogen during the 2nd quarter worth about $90,000. 96.73% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 bought at an average cost of $13.80 per share, with a total value of $200,100.00. Following the transaction, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.13% of the stock is owned by insiders.

Neogen Stock Down 0.7 %

Shares of NASDAQ NEOG opened at $15.09 on Wednesday. The stock has a market cap of $3.27 billion, a PE ratio of -137.18 and a beta of 1.23. The company has a quick ratio of 2.79, a current ratio of 4.41 and a debt-to-equity ratio of 0.28. Neogen Co. has a 52-week low of $11.46 and a 52-week high of $20.89. The business has a 50-day moving average price of $15.28 and a 200 day moving average price of $15.51.

Neogen (NASDAQ:NEOG) last posted 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 company had revenue of $217.00 million for the quarter, compared to analyst estimates of $215.05 million. During the same period in the previous year, the business posted $0.11 earnings per share. The firm’s revenue was down 5.2% compared to the same quarter last year. Equities research analysts forecast that Neogen Co. will post 0.5 earnings per share for the current year.

Analysts Set New Price Targets

NEOG has been the subject of a number of research analyst reports. Piper Sandler upped 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. StockNews.com raised Neogen to a “sell” rating in a research report on Monday, September 30th.

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.