State Street Corp Boosts Stock Holdings in Neogen Co. (NASDAQ:NEOG)

State Street Corp lifted its position in shares of Neogen Co. (NASDAQ:NEOG - Free Report) by 3.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,932,192 shares of the company's stock after purchasing an additional 236,762 shares during the period. State Street Corp owned 3.66% of Neogen worth $133,340,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in NEOG. Inspire Investing LLC increased its position in Neogen by 2.7% during the 2nd quarter. Inspire Investing LLC now owns 26,074 shares of the company's stock worth $408,000 after buying an additional 685 shares during the period. Stephens Inc. AR grew its stake in shares of Neogen by 2.6% in the third quarter. Stephens Inc. AR now owns 35,930 shares of the company's stock valued at $604,000 after acquiring an additional 909 shares in the last quarter. Arizona State Retirement System increased its position in Neogen by 1.9% during the second quarter. Arizona State Retirement System now owns 57,609 shares of the company's stock worth $900,000 after acquiring an additional 1,079 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Neogen by 142.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company's stock worth $33,000 after purchasing an additional 1,165 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in Neogen by 3.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 36,630 shares of the company's stock valued at $573,000 after purchasing an additional 1,190 shares during the period. Institutional investors own 96.73% of the company's stock.

Neogen Price Performance

Shares of NEOG traded down $0.34 during trading hours on Friday, hitting $12.15. 2,405,333 shares of the company were exchanged, compared to its average volume of 1,903,126. The company has a market cap of $2.63 billion, a price-to-earnings ratio of -110.45 and a beta of 1.21. The firm's fifty day moving average is $14.30 and its 200 day moving average is $15.57. 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 issued its 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 during 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 period in the prior year, the business posted $0.11 EPS. On average, equities analysts anticipate that Neogen Co. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Neogen to a "sell" rating in a report on Monday, September 30th.

Insider Buying and Selling at Neogen

In other news, CEO John Edward Adent purchased 14,500 shares of the company's stock in a transaction dated Friday, October 11th. The stock was bought at an average cost of $13.80 per share, for a total transaction of $200,100.00. Following the purchase, the chief executive officer now owns 216,477 shares of the company's stock, valued at approximately $2,987,382.60. The trade was a 7.18 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.13% of the company's stock.

Neogen Company Profile

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.