Neogen Co. (NASDAQ:NEOG) Stock Holdings Increased by Barclays PLC

Barclays PLC grew its position in shares of Neogen Co. (NASDAQ:NEOG) by 129.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 366,753 shares of the company’s stock after buying an additional 207,160 shares during the period. Barclays PLC owned about 0.17% of Neogen worth $6,165,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its stake in Neogen by 142.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company’s stock worth $33,000 after acquiring an additional 1,165 shares during the period. Innealta Capital LLC acquired a new stake in shares of Neogen during the 2nd quarter worth approximately $46,000. Headlands Technologies LLC lifted 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 worth $53,000 after purchasing an additional 2,464 shares during the last quarter. Family Firm Inc. acquired a new position in Neogen during the 2nd quarter valued at approximately $90,000. Finally, Marco Investment Management LLC bought a new position in Neogen during the 3rd quarter worth $169,000. Institutional investors and hedge funds own 96.73% of the company’s stock.

Insider Transactions at Neogen

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

Wall Street Analyst Weigh In

NEOG has been the topic of a number of recent research reports. Guggenheim initiated coverage on Neogen in a research note on Thursday. They issued a “buy” rating and a $15.00 target price on the stock. StockNews.com raised shares of Neogen to a “sell” rating in a research note on Monday, September 30th.

Neogen Stock Up 3.3 %

Shares of Neogen stock opened at $12.02 on Friday. 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 Co. has a 1-year low of $11.46 and a 1-year high of $20.89. The business’s fifty day moving average price is $14.08 and its two-hundred day moving average price is $15.52. The company has a market capitalization of $2.60 billion, a P/E ratio of -109.27 and a beta of 1.21.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings data 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 company had revenue of $217.00 million for the quarter, compared to the consensus estimate of $215.05 million. Neogen had a negative net margin of 2.58% and a positive return on equity of 2.80%. Neogen’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.11 earnings per share. As a group, research analysts forecast that Neogen Co. will post 0.5 EPS for the current 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.