Neogen Co. (NASDAQ:NEOG) Position Increased by Citigroup Inc.

Citigroup Inc. boosted its position in shares of Neogen Co. (NASDAQ:NEOG - Free Report) by 129.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 231,833 shares of the company's stock after acquiring an additional 130,641 shares during the period. Citigroup Inc. owned about 0.11% of Neogen worth $3,897,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its position in Neogen by 142.6% in the 3rd 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 last quarter. Innealta Capital LLC acquired a new stake in Neogen in the 2nd quarter valued at about $46,000. Headlands Technologies LLC grew its stake in Neogen by 264.1% in the 2nd quarter. Headlands Technologies LLC now owns 3,397 shares of the company's stock valued at $53,000 after acquiring an additional 2,464 shares during the last quarter. Family Firm Inc. acquired a new stake in shares of Neogen during the 2nd quarter worth about $90,000. Finally, Quantum Private Wealth LLC acquired a new stake in shares of Neogen during the 2nd quarter worth about $156,000. Institutional investors and hedge funds own 96.73% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on NEOG. StockNews.com raised shares of Neogen to a "sell" rating in a research report on Monday, September 30th. Piper Sandler boosted their price target on Neogen from $17.00 to $17.50 and gave the company a "neutral" rating in a research report on Tuesday, August 6th.

Neogen Trading Down 0.2 %

NEOG stock traded down $0.02 during midday trading on Wednesday, reaching $13.23. 1,620,126 shares of the company's stock traded hands, compared to its average volume of 1,900,758. The company has a market capitalization of $2.87 billion, a P/E ratio of -120.45 and a beta of 1.21. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.41 and a quick ratio of 2.79. Neogen Co. has a fifty-two week low of $11.46 and a fifty-two week high of $20.89. The business has a 50-day moving average price of $14.81 and a two-hundred day moving average price of $15.62.

Neogen (NASDAQ:NEOG - Get Free Report) last announced its quarterly earnings results 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). The business had revenue of $217.00 million for the quarter, compared to analyst estimates of $215.05 million. Neogen had a negative net margin of 2.58% and a positive return on equity of 2.80%. The company's quarterly revenue was down 5.2% on a year-over-year basis. During the same period last year, the firm earned $0.11 earnings per share. Equities research analysts forecast that Neogen Co. will post 0.5 EPS for the current fiscal year.

Insider Transactions at Neogen

In other news, CEO John Edward Adent bought 14,500 shares of Neogen stock in a transaction dated Friday, October 11th. The shares were acquired at an average cost of $13.80 per share, with a total value of $200,100.00. Following the completion of the transaction, the chief executive officer now owns 216,477 shares in the company, valued at approximately $2,987,382.60. This trade represents a 7.18 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.13% of the company's stock.

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.