US Bancorp DE Has $441,000 Stock Position in Neogen Co. (NASDAQ:NEOG)

US Bancorp DE reduced its stake in shares of Neogen Co. (NASDAQ:NEOG) by 7.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,212 shares of the company’s stock after selling 2,160 shares during the quarter. US Bancorp DE’s holdings in Neogen were worth $441,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Inspire Investing LLC raised its position in Neogen by 2.7% in the second quarter. Inspire Investing LLC now owns 26,074 shares of the company’s stock valued at $408,000 after purchasing an additional 685 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of Neogen by 1.2% in the first quarter. Bessemer Group Inc. now owns 73,920 shares of the company’s stock valued at $1,166,000 after buying an additional 851 shares during the period. Arizona State Retirement System increased its stake in shares of Neogen by 1.9% in the second quarter. Arizona State Retirement System now owns 57,609 shares of the company’s stock valued at $900,000 after buying an additional 1,079 shares during the period. Swiss National Bank increased its stake in shares of Neogen by 0.3% in the first quarter. Swiss National Bank now owns 406,137 shares of the company’s stock valued at $6,409,000 after buying an additional 1,100 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake 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 buying an additional 1,165 shares during the period. 96.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Piper Sandler raised their target price on Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. StockNews.com raised Neogen to a “sell” rating in a research note on Monday, September 30th.

Neogen Trading Up 1.0 %

Shares of Neogen stock opened at $16.40 on Tuesday. Neogen Co. has a 52 week low of $11.46 and a 52 week high of $20.89. 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 50 day moving average price of $15.37 and a two-hundred day moving average price of $15.40. The stock has a market capitalization of $3.55 billion, a PE ratio of -149.09 and a beta of 1.23.

Neogen (NASDAQ:NEOG) last issued 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 business had revenue of $217.00 million for the quarter, compared to the consensus estimate of $215.05 million. Neogen had a positive return on equity of 2.80% and a negative net margin of 2.58%. The business’s revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.11 earnings per share. As a group, equities analysts anticipate that Neogen Co. will post 0.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Neogen

In other news, CEO John Edward Adent bought 14,500 shares of the stock in a transaction on Friday, October 11th. The shares were purchased at an average cost of $13.80 per share, for a total transaction of $200,100.00. Following the completion of the purchase, the chief executive officer now directly owns 216,477 shares in the company, valued at $2,987,382.60. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate 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.