Bamco Inc. NY Purchases 98,067 Shares of Neogen Co. (NASDAQ:NEOG)

Bamco Inc. NY boosted its holdings in shares of Neogen Co. (NASDAQ:NEOG - Free Report) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,303,115 shares of the company's stock after acquiring an additional 98,067 shares during the quarter. Bamco Inc. NY owned approximately 3.37% of Neogen worth $122,765,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its holdings in Neogen by 142.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company's stock valued at $33,000 after acquiring an additional 1,165 shares during the period. Innealta Capital LLC bought a new stake in shares of Neogen in the 2nd quarter worth approximately $46,000. Headlands Technologies LLC grew its holdings 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 purchasing an additional 2,464 shares in the last quarter. Family Firm Inc. bought a new stake in shares of Neogen during the second quarter valued at approximately $90,000. Finally, Quantum Private Wealth LLC acquired a new position in shares of Neogen in the second quarter valued at $156,000. 96.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO John Edward Adent acquired 14,500 shares of the firm's stock in a transaction on Friday, October 11th. The shares were purchased at an average price of $13.80 per share, with a total value 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. The trade was a 7.18 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 1.13% of the stock is currently owned by corporate insiders.

Neogen Price Performance

Shares of NASDAQ:NEOG traded down $0.35 on Monday, hitting $13.83. The stock had a trading volume of 978,316 shares, compared to its average volume of 1,895,241. 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 company has a market capitalization of $3.00 billion, a price-to-earnings ratio of -128.91 and a beta of 1.23. Neogen Co. has a twelve month low of $11.46 and a twelve month high of $20.89. The firm's 50 day moving average price is $14.96 and its 200-day moving average price is $15.62.

Neogen (NASDAQ:NEOG - Get Free Report) last released its quarterly earnings results on Thursday, October 10th. The company reported $0.07 EPS 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 business had revenue of $217.00 million for the quarter, compared to the consensus estimate of $215.05 million. During the same quarter last year, the company earned $0.11 earnings per share. The firm's revenue was down 5.2% on a year-over-year basis. On average, equities research analysts predict that Neogen Co. will post 0.5 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on NEOG shares. Piper Sandler boosted 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 raised shares of Neogen to a "sell" rating in a research note on Monday, September 30th.

Neogen 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.