Neogen Co. (NASDAQ:NEOG) Shares Acquired by Natixis Advisors LLC

Natixis Advisors LLC increased its holdings in shares of Neogen Co. (NASDAQ:NEOG) by 35.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 96,374 shares of the company’s stock after acquiring 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.

Other institutional investors and hedge funds have also recently modified their holdings of the company. 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 valued at $33,000 after purchasing an additional 1,165 shares during the period. Innealta Capital LLC purchased a new position in shares of Neogen during the 2nd quarter valued at approximately $46,000. Headlands Technologies LLC lifted 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 valued at $53,000 after buying an additional 2,464 shares in the last quarter. Family Firm Inc. acquired a new stake in Neogen in the 2nd quarter valued at $90,000. Finally, Quantum Private Wealth LLC purchased a new stake in Neogen in the 2nd quarter worth $156,000. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Neogen Trading Up 2.2 %

Shares of NEOG stock opened at $15.31 on Tuesday. 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. The stock’s fifty day moving average is $15.21 and its two-hundred day moving average is $15.59. The firm has a market capitalization of $3.32 billion, a P/E ratio of -139.18 and a beta of 1.23.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings results on Thursday, October 10th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $217.00 million during the quarter, compared to analysts’ expectations of $215.05 million. During the same period in the prior year, the business posted $0.11 earnings per share. The business’s quarterly revenue was down 5.2% on a year-over-year basis. Research analysts expect that Neogen Co. will post 0.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on NEOG shares. StockNews.com upgraded shares of Neogen to a “sell” rating in a research report on Monday, September 30th. Piper Sandler lifted their price objective on Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a report on Tuesday, August 6th.

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.