Truist Financial Corp Has $1.25 Million Stock Holdings in Neogen Co. (NASDAQ:NEOG)

Truist Financial Corp grew its position in shares of Neogen Co. (NASDAQ:NEOG) by 11.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 102,926 shares of the company’s stock after buying an additional 10,394 shares during the period. Truist Financial Corp’s holdings in Neogen were worth $1,250,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Conestoga Capital Advisors LLC increased its position in Neogen by 24.5% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 8,706,224 shares of the company’s stock worth $146,352,000 after buying an additional 1,711,238 shares during the period. State Street Corp increased its position in Neogen by 3.1% during the 3rd quarter. State Street Corp now owns 7,932,192 shares of the company’s stock worth $133,340,000 after buying an additional 236,762 shares during the period. Bamco Inc. NY increased its position in Neogen by 1.4% during the 3rd quarter. Bamco Inc. NY now owns 7,303,115 shares of the company’s stock worth $122,765,000 after buying an additional 98,067 shares during the period. Champlain Investment Partners LLC increased its position in Neogen by 10.7% during the 3rd quarter. Champlain Investment Partners LLC now owns 7,110,530 shares of the company’s stock worth $119,528,000 after buying an additional 690,029 shares during the period. Finally, Geode Capital Management LLC increased its position in Neogen by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 5,148,388 shares of the company’s stock worth $86,559,000 after buying an additional 20,387 shares during the period. Institutional investors own 96.73% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on NEOG shares. Guggenheim started coverage on Neogen in a research report on Thursday, December 19th. They set a “buy” rating and a $15.00 price objective on the stock. Piper Sandler restated a “neutral” rating and issued a $13.00 price target (down previously from $16.50) on shares of Neogen in a research report on Tuesday, January 21st.

Neogen Stock Down 0.3 %

Shares of NASDAQ NEOG opened at $10.05 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.46 and a current ratio of 3.77. Neogen Co. has a 52 week low of $9.70 and a 52 week high of $18.58. The stock has a market capitalization of $2.18 billion, a P/E ratio of -4.59 and a beta of 1.23. The stock’s fifty day moving average is $11.34 and its 200 day moving average is $13.75.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings results on Friday, January 10th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.12. Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. The company had revenue of $231.30 million for the quarter, compared to analysts’ expectations of $227.16 million. During the same quarter last year, the business earned $0.11 earnings per share. Neogen’s revenue was up .7% on a year-over-year basis. Sell-side analysts forecast that Neogen Co. will post 0.38 earnings per share for the current fiscal year.

Insider Activity at Neogen

In other Neogen news, CEO John Edward Adent acquired 23,035 shares of Neogen stock in a transaction that occurred on Thursday, January 16th. The shares were acquired at an average cost of $11.03 per share, with a total value of $254,076.05. Following the completion of the purchase, the chief executive officer now directly owns 269,164 shares of the company’s stock, valued at $2,968,878.92. This represents a 9.36 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO David H. Naemura acquired 14,800 shares of Neogen stock in a transaction that occurred on Thursday, January 16th. The stock was acquired at an average cost of $11.11 per share, for a total transaction of $164,428.00. Following the completion of the purchase, the chief financial officer now directly owns 61,434 shares of the company’s stock, valued at $682,531.74. This represents a 31.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.13% of the stock is currently owned by insiders.

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.