Harbor Capital Advisors Inc. Raises Holdings in Neogen Co. (NASDAQ:NEOG)

Harbor Capital Advisors Inc. raised its holdings in Neogen Co. (NASDAQ:NEOG - Free Report) by 148.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 987,008 shares of the company's stock after purchasing an additional 588,962 shares during the period. Neogen comprises 0.7% of Harbor Capital Advisors Inc.'s holdings, making the stock its 15th largest position. Harbor Capital Advisors Inc. owned about 0.46% of Neogen worth $16,592,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Neogen by 0.9% in the first quarter. Vanguard Group Inc. now owns 19,715,974 shares of the company's stock valued at $311,118,000 after purchasing an additional 169,237 shares during the period. Select Equity Group L.P. boosted its holdings in Neogen by 23.1% in the 2nd quarter. Select Equity Group L.P. now owns 15,530,439 shares of the company's stock worth $242,741,000 after buying an additional 2,914,893 shares during the last quarter. William Blair Investment Management LLC boosted its holdings in Neogen by 64.7% in the 2nd quarter. William Blair Investment Management LLC now owns 12,013,072 shares of the company's stock worth $187,764,000 after buying an additional 4,717,696 shares during the last quarter. Conestoga Capital Advisors LLC increased its stake 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 in the last quarter. Finally, Bamco Inc. NY raised its holdings in shares of Neogen by 10.3% during the first quarter. Bamco Inc. NY now owns 7,304,967 shares of the company's stock valued at $115,272,000 after acquiring an additional 680,668 shares during the last quarter. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director James P. Tobin acquired 3,000 shares of the business's stock in a transaction dated Tuesday, August 6th. The shares were acquired at an average price of $16.86 per share, with a total value of $50,580.00. Following the completion of the transaction, the director now owns 23,392 shares of the company's stock, valued at $394,389.12. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director James P. Tobin acquired 3,000 shares of the firm's stock in a transaction dated Tuesday, August 6th. The stock was acquired at an average cost of $16.86 per share, with a total value of $50,580.00. Following the transaction, the director now owns 23,392 shares in the company, valued at approximately $394,389.12. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO John Edward Adent purchased 14,500 shares of the firm's stock in a transaction on 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 acquisition, the chief executive officer now directly owns 216,477 shares in the company, valued at $2,987,382.60. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.13% of the company's stock.

Neogen Trading Up 1.1 %

NEOG stock traded up $0.16 during midday trading on Friday, hitting $14.44. 1,190,809 shares of the company's stock were exchanged, compared to its average volume of 1,517,253. Neogen Co. has a 1-year low of $11.46 and a 1-year high of $20.89. The business has a 50-day simple moving average of $15.55 and a two-hundred day simple moving average of $15.22. The stock has a market capitalization of $3.13 billion, a PE ratio of -131.27 and a beta of 1.23. The company has a current ratio of 4.41, a quick ratio of 2.79 and a debt-to-equity ratio of 0.28.

Neogen (NASDAQ:NEOG - Get Free Report) last issued its quarterly earnings data on Thursday, October 10th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.03). Neogen had a negative net margin of 2.58% and a positive return on equity of 2.80%. The company had revenue of $217.00 million during the quarter, compared to analysts' expectations of $215.05 million. During the same quarter last year, the firm posted $0.11 earnings per share. The firm's quarterly revenue was down 5.2% on a year-over-year basis. On average, sell-side analysts predict that Neogen Co. will post 0.52 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on NEOG shares. Piper Sandler lifted their price target on Neogen from $17.00 to $17.50 and gave the stock a "neutral" rating in a research note on Tuesday, August 6th. StockNews.com upgraded Neogen to a "sell" rating in a 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.