Neogen Co. (NASDAQ:NEOG) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its stake in Neogen Co. (NASDAQ:NEOG) by 13.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 506,018 shares of the company’s stock after selling 80,594 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Neogen were worth $8,506,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of 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 buying an additional 1,165 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Neogen in the 2nd quarter valued at $46,000. Headlands Technologies LLC boosted its holdings 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 in the last quarter. Family Firm Inc. acquired a new position in shares of Neogen in the 2nd quarter valued at $90,000. Finally, Quantum Private Wealth LLC acquired a new position in shares of Neogen in the 2nd quarter valued at $156,000. Institutional investors and hedge funds own 96.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Neogen to a “sell” rating in a report on Monday, September 30th.

Neogen Stock Up 2.3 %

NEOG stock opened at $13.11 on Tuesday. The company has a fifty day moving average price of $14.51 and a 200 day moving average price of $15.61. Neogen Co. has a 12 month low of $11.46 and a 12 month high of $20.89. The company has a market cap of $2.84 billion, a price-to-earnings ratio of -119.18 and a beta of 1.21. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.41 and a quick ratio of 2.79.

Neogen (NASDAQ:NEOG) last released 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 quarter last year, the company earned $0.11 EPS. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. Sell-side analysts expect that Neogen Co. will post 0.5 earnings per share for the current year.

Insider Activity at Neogen

In other news, CEO John Edward Adent acquired 14,500 shares of the business’s stock in a transaction on Friday, October 11th. The stock was bought at an average price of $13.80 per share, for a total transaction of $200,100.00. Following the transaction, the chief executive officer now owns 216,477 shares in the company, valued at $2,987,382.60. This represents a 7.18 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.13% of the stock is owned by insiders.

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.