Principal Financial Group Inc. lessened its position in Neogen Co. (NASDAQ:NEOG - Free Report) by 26.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 580,073 shares of the company's stock after selling 208,759 shares during the period. Principal Financial Group Inc. owned about 0.27% of Neogen worth $9,751,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its position in Neogen by 23.8% during the 1st quarter. Russell Investments Group Ltd. now owns 135,397 shares of the company's stock worth $2,110,000 after buying an additional 26,012 shares in the last quarter. ProShare Advisors LLC lifted its position in Neogen by 4.2% during the 1st quarter. ProShare Advisors LLC now owns 51,403 shares of the company's stock worth $811,000 after buying an additional 2,072 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Neogen by 67.5% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 616,190 shares of the company's stock worth $9,723,000 after purchasing an additional 248,340 shares during the last quarter. Vanguard Group Inc. raised its holdings in Neogen by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 19,715,974 shares of the company's stock worth $311,118,000 after purchasing an additional 169,237 shares during the last quarter. Finally, Covestor Ltd raised its holdings in Neogen by 173.2% during the 1st quarter. Covestor Ltd now owns 1,970 shares of the company's stock worth $31,000 after purchasing an additional 1,249 shares during the last quarter. Institutional investors and hedge funds own 96.73% of the company's stock.
Insider Activity
In other Neogen news, CEO John Edward Adent bought 14,500 shares of the 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 purchase, the chief executive officer now owns 216,477 shares in the company, valued at $2,987,382.60. This trade represents a 7.18 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.13% of the stock is currently owned by company insiders.
Neogen Trading Down 0.7 %
NASDAQ:NEOG traded down $0.11 on Tuesday, hitting $15.09. 2,015,553 shares of the stock were exchanged, compared to its average volume of 1,913,104. 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 stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of -137.18 and a beta of 1.23. The company's 50-day moving average price is $15.28 and its 200 day moving average price is $15.51. Neogen Co. has a 52 week low of $11.46 and a 52 week high of $20.89.
Neogen (NASDAQ:NEOG - Get Free Report) last announced 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). The company had revenue of $217.00 million during the quarter, compared to the consensus estimate of $215.05 million. Neogen had a negative net margin of 2.58% and a positive return on equity of 2.80%. The business's revenue was down 5.2% compared to the same quarter last year. During the same period last year, the company earned $0.11 earnings per share. On average, equities research analysts forecast that Neogen Co. will post 0.5 earnings per share for the current year.
Analysts Set New Price Targets
Several analysts have weighed in on NEOG shares. StockNews.com raised Neogen to a "sell" rating in a report on Monday, September 30th. Piper Sandler boosted their price objective on Neogen from $17.00 to $17.50 and gave the stock a "neutral" rating in a report on Tuesday, August 6th.
Read Our Latest Report on Neogen
Neogen Profile
(
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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