Neogen Co. (NASDAQ:NEOG) Stake Boosted by Zions Bancorporation N.A.

Zions Bancorporation N.A. increased its position in shares of Neogen Co. (NASDAQ:NEOG) by 21.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 99,797 shares of the company’s stock after purchasing an additional 17,752 shares during the quarter. Zions Bancorporation N.A.’s holdings in Neogen were worth $1,678,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Covestor Ltd lifted its stake 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 during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in 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 last quarter. Innealta Capital LLC bought a new stake in Neogen in the second quarter valued at $46,000. Headlands Technologies LLC lifted its stake in Neogen by 264.1% in the second 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 last quarter. Finally, Family Firm Inc. bought a new stake in Neogen in the second quarter valued at $90,000. 96.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity at Neogen

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

Neogen Stock Down 3.6 %

Shares of NASDAQ NEOG opened at $14.64 on Friday. Neogen Co. has a fifty-two week low of $11.46 and a fifty-two week high of $20.89. The firm’s 50-day simple moving average is $15.31 and its 200 day simple moving average is $15.41. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.79 and a current ratio of 4.41.

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). Neogen had a negative net margin of 2.58% and a positive return on equity of 2.80%. The company had revenue of $217.00 million for the quarter, compared to the consensus estimate of $215.05 million. During the same quarter in the prior year, the firm earned $0.11 earnings per share. Neogen’s revenue for the quarter was down 5.2% compared to the same quarter last year. On average, equities research analysts predict that Neogen Co. will post 0.5 EPS for the current year.

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.