JPMorgan Chase & Co. cut its position in Neogen Co. (NASDAQ:NEOG - Free Report) by 2.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,197,514 shares of the company's stock after selling 68,069 shares during the quarter. JPMorgan Chase & Co. owned about 1.48% of Neogen worth $53,750,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its position in shares of 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 acquiring an additional 1,165 shares during the period. Headlands Technologies LLC boosted its holdings 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 purchasing an additional 2,464 shares during the period. Neo Ivy Capital Management acquired a new position in shares of Neogen during the 3rd quarter worth approximately $66,000. Marco Investment Management LLC acquired a new position in shares of Neogen during the 3rd quarter worth approximately $169,000. Finally, Raymond James Trust N.A. bought a new position in shares of Neogen during the third quarter worth approximately $182,000. Institutional investors own 96.73% of the company's stock.
Analyst Ratings Changes
NEOG has been the subject of several recent research reports. StockNews.com upgraded Neogen to a "sell" rating in a research note on Monday, September 30th. Guggenheim assumed coverage on Neogen in a research report on Thursday, December 19th. They set a "buy" rating and a $15.00 target price for the company.
Check Out Our Latest Research Report on NEOG
Neogen Price Performance
Shares of NASDAQ:NEOG traded up $0.31 during midday trading on Friday, hitting $12.25. The stock had a trading volume of 1,605,105 shares, compared to its average volume of 1,684,103. The company has a quick ratio of 2.79, a current ratio of 4.41 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $2.65 billion, a P/E ratio of -111.36 and a beta of 1.21. The company's 50-day moving average price is $13.65 and its 200-day moving average price is $15.19. Neogen Co. has a fifty-two week low of $11.46 and a fifty-two week high of $19.88.
Neogen (NASDAQ:NEOG - Get Free Report) last released its 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 for the quarter, compared to the consensus estimate of $215.05 million. During the same quarter in the previous year, the company earned $0.11 earnings per share. The firm's revenue for the quarter was down 5.2% on a year-over-year basis. As a group, equities research analysts predict that Neogen Co. will post 0.5 EPS for the current fiscal year.
Insider Activity at Neogen
In related news, CEO John Edward Adent acquired 14,500 shares of the company's stock in a transaction that occurred on Friday, October 11th. The stock was acquired at an average price of $13.80 per share, with a total value of $200,100.00. Following the purchase, the chief executive officer now directly owns 216,477 shares in the company, valued at approximately $2,987,382.60. This trade represents a 7.18 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.13% of the stock is currently owned by insiders.
About Neogen
(
Free Report)
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.
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