Blair William & Co. IL Boosts Position in Neogen Co. (NASDAQ:NEOG)

Blair William & Co. IL boosted its position in shares of Neogen Co. (NASDAQ:NEOG) by 24.1% during the second quarter, Holdings Channel reports. The firm owned 3,487,126 shares of the company’s stock after buying an additional 678,202 shares during the quarter. Blair William & Co. IL’s holdings in Neogen were worth $54,504,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Covestor Ltd boosted its position in Neogen by 173.2% during the first quarter. Covestor Ltd now owns 1,970 shares of the company’s stock worth $31,000 after purchasing an additional 1,249 shares in the last quarter. Innealta Capital LLC purchased a new stake in Neogen during the second quarter worth $46,000. Headlands Technologies LLC boosted its position in Neogen by 264.1% during the second quarter. Headlands Technologies LLC now owns 3,397 shares of the company’s stock worth $53,000 after purchasing an additional 2,464 shares in the last quarter. Family Firm Inc. purchased a new stake in Neogen during the second quarter worth $90,000. Finally, Quantum Private Wealth LLC purchased a new stake in Neogen during the second quarter worth $156,000. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Piper Sandler upped their price objective on Neogen from $17.00 to $17.50 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. StockNews.com upgraded Neogen to a “sell” rating in a research report on Friday, September 13th.

Insider Activity at Neogen

In other Neogen news, Director James P. Tobin bought 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average cost of $16.86 per share, for a total transaction of $50,580.00. Following the completion of the purchase, the director now owns 23,392 shares of the company’s stock, valued at approximately $394,389.12. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.71% of the company’s stock.

Neogen Stock Up 2.2 %

Shares of NASDAQ:NEOG opened at $17.24 on Thursday. The company has a quick ratio of 2.59, a current ratio of 3.82 and a debt-to-equity ratio of 0.28. Neogen Co. has a 52-week low of $11.46 and a 52-week high of $20.89. The stock’s fifty day simple moving average is $16.54 and its 200-day simple moving average is $15.17. The company has a market capitalization of $3.73 billion, a P/E ratio of 1,724.00 and a beta of 1.21.

Neogen (NASDAQ:NEOG) last released its earnings results on Tuesday, July 30th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.02). The business had revenue of $236.80 million during the quarter, compared to analyst estimates of $225.83 million. Neogen had a negative net margin of 1.02% and a positive return on equity of 3.09%. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 earnings per share. As a group, equities research analysts forecast that Neogen Co. will post 0.54 earnings per share for the current fiscal year.

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.