Barclays PLC raised its holdings in shares of Neogen Co. (NASDAQ:NEOG - Free Report) by 129.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 366,753 shares of the company's stock after purchasing an additional 207,160 shares during the quarter. Barclays PLC owned 0.17% of Neogen worth $6,165,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of NEOG. Select Equity Group L.P. raised its stake in shares of Neogen by 23.1% in the 2nd quarter. Select Equity Group L.P. now owns 15,530,439 shares of the company's stock valued at $242,741,000 after purchasing an additional 2,914,893 shares in the last quarter. William Blair Investment Management LLC increased its holdings in Neogen by 64.7% in the second quarter. William Blair Investment Management LLC now owns 12,013,072 shares of the company's stock valued at $187,764,000 after buying an additional 4,717,696 shares during the last quarter. Conestoga Capital Advisors LLC raised its stake in Neogen by 24.5% during the third quarter. Conestoga Capital Advisors LLC now owns 8,706,224 shares of the company's stock valued at $146,352,000 after buying an additional 1,711,238 shares in the last quarter. State Street Corp lifted its holdings in Neogen by 3.1% during the 3rd quarter. State Street Corp now owns 7,932,192 shares of the company's stock worth $133,340,000 after buying an additional 236,762 shares during the last quarter. Finally, Bamco Inc. NY grew its position in shares of Neogen by 1.4% in the 3rd quarter. Bamco Inc. NY now owns 7,303,115 shares of the company's stock worth $122,765,000 after acquiring an additional 98,067 shares in the last quarter. 96.73% of the stock is currently owned by hedge funds and other institutional investors.
Neogen Stock Performance
NEOG stock traded up $0.02 during midday trading on Friday, reaching $12.04. The company had a trading volume of 4,133,540 shares, compared to its average volume of 1,925,693. The firm has a market capitalization of $2.61 billion, a PE ratio of -109.45 and a beta of 1.21. The stock has a 50 day moving average price of $14.08 and a 200 day moving average price of $15.52. Neogen Co. has a fifty-two week low of $11.46 and a fifty-two week high of $20.89. The company has a quick ratio of 2.79, a current ratio of 4.41 and a debt-to-equity ratio of 0.28.
Neogen (NASDAQ:NEOG - Get Free Report) last released its quarterly earnings data on Thursday, October 10th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.03). The company 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 revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.11 EPS. Analysts anticipate that Neogen Co. will post 0.5 earnings per share for the current year.
Insider Buying and Selling
In other Neogen news, CEO John Edward Adent acquired 14,500 shares of the firm's stock in a transaction that occurred on Friday, October 11th. The stock was acquired at an average cost 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 of the company's stock, valued at $2,987,382.60. This represents a 7.18 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.13% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on NEOG shares. StockNews.com raised Neogen to a "sell" rating in a research report on Monday, September 30th. Guggenheim initiated coverage on shares of Neogen in a research note on Thursday. They set a "buy" rating and a $15.00 target price for the company.
Check Out Our Latest Research Report on Neogen
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.
Further Reading
Before you consider Neogen, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Neogen wasn't on the list.
While Neogen currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's list of the 10 best stocks to own in 2025 and why they should be in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
