Neogen Co. (NASDAQ:NEOG) Shares Bought by Citigroup Inc.

Citigroup Inc. raised its holdings in Neogen Co. (NASDAQ:NEOG) by 129.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 231,833 shares of the company’s stock after acquiring an additional 130,641 shares during the period. Citigroup Inc.’s holdings in Neogen were worth $3,897,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its holdings in Neogen by 142.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company’s stock valued at $33,000 after acquiring an additional 1,165 shares during the last quarter. Innealta Capital LLC acquired a new stake in Neogen in the 2nd quarter valued at about $46,000. Headlands Technologies LLC grew its stake in shares of Neogen by 264.1% in the 2nd quarter. Headlands Technologies LLC now owns 3,397 shares of the company’s stock valued at $53,000 after buying an additional 2,464 shares during the period. Family Firm Inc. purchased a new stake in shares of Neogen in the 2nd quarter valued at approximately $90,000. Finally, Quantum Private Wealth LLC purchased a new stake in shares of Neogen in the 2nd quarter valued at approximately $156,000. Institutional investors and hedge funds own 96.73% of the company’s stock.

Insider Activity

In other news, CEO John Edward Adent acquired 14,500 shares of Neogen stock in a transaction dated Friday, October 11th. The shares were acquired at an average cost of $13.80 per share, for a total transaction of $200,100.00. Following the acquisition, the chief executive officer now owns 216,477 shares of the company’s stock, valued at $2,987,382.60. This trade represents a 7.18 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.13% of the company’s stock.

Neogen Stock Performance

NASDAQ:NEOG opened at $13.25 on Wednesday. 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 $2.87 billion, a P/E ratio of -120.45 and a beta of 1.21. The company has a 50 day moving average price of $14.89 and a 200 day moving average price of $15.63. Neogen Co. has a fifty-two week low of $11.46 and a fifty-two week high of $20.89.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings results on Thursday, October 10th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.03). Neogen had a negative net margin of 2.58% and a positive return on equity of 2.80%. The business had revenue of $217.00 million during the quarter, compared to analysts’ expectations of $215.05 million. During the same period in the prior year, the business earned $0.11 EPS. The business’s quarterly revenue was down 5.2% on a year-over-year basis. Equities research analysts forecast that Neogen Co. will post 0.5 EPS for the current year.

Analyst Ratings Changes

NEOG has been the subject of several analyst reports. StockNews.com raised shares of Neogen to a “sell” rating in a research note on Monday, September 30th. Piper Sandler increased their price target on shares of Neogen from $17.00 to $17.50 and gave the company a “neutral” rating in a research note on Tuesday, August 6th.

Neogen 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.