Van ECK Associates Corp boosted its holdings in shares of Neogen Co. (NASDAQ:NEOG – Free Report) by 0.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 473,088 shares of the company’s stock after acquiring an additional 1,106 shares during the period. Van ECK Associates Corp owned approximately 0.22% of Neogen worth $8,771,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC bought a new position in Neogen during the first quarter worth about $29,000. State of Tennessee Treasury Department bought a new stake in shares of Neogen in the first quarter valued at about $45,000. International Assets Investment Management LLC bought a new stake in shares of Neogen in the third quarter valued at about $49,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Neogen by 416.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,033 shares of the company’s stock valued at $56,000 after purchasing an additional 2,446 shares in the last quarter. Finally, First Manhattan CO. LLC. bought a new stake in shares of Neogen in the first quarter valued at about $68,000. 96.73% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts have recently commented on the company. Piper Sandler boosted their price target on Neogen from $17.50 to $19.00 and gave the company a “neutral” rating in a report on Thursday, January 18th. StockNews.com lowered Neogen from a “hold” rating to a “sell” rating in a report on Saturday, October 28th.
Neogen Stock Performance
NEOG opened at $16.55 on Friday. Neogen Co. has a 52-week low of $14.44 and a 52-week high of $24.09. The firm has a market capitalization of $3.58 billion, a PE ratio of 275.88 and a beta of 1.12. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.63 and a current ratio of 3.54. The business’s 50-day simple moving average is $18.12 and its 200 day simple moving average is $18.66.
Neogen (NASDAQ:NEOG – Get Free Report) last released its earnings results on Tuesday, January 9th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.08. Neogen had a return on equity of 3.35% and a net margin of 1.28%. The business had revenue of $229.60 million for the quarter, compared to analyst estimates of $232.85 million. During the same quarter in the prior year, the company posted $0.15 earnings per share. Neogen’s revenue was down .2% on a year-over-year basis. As a group, sell-side analysts expect that Neogen Co. will post 0.55 earnings per share for the current fiscal year.
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.
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