12,175 Shares in Neogen Co. (NASDAQ:NEOG) Bought by Ascent Group LLC

Ascent Group LLC purchased a new stake in Neogen Co. (NASDAQ:NEOG) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 12,175 shares of the company’s stock, valued at approximately $205,000.

A number of other hedge funds also recently made changes to their positions in NEOG. Allspring Global Investments Holdings LLC increased 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 acquiring an additional 1,165 shares during the period. Innealta Capital LLC acquired a new stake in Neogen during the second quarter valued at approximately $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 purchasing an additional 2,464 shares during the period. Family Firm Inc. bought a new position in shares of Neogen during the 2nd quarter worth approximately $90,000. Finally, Quantum Private Wealth LLC acquired a new stake in Neogen in the 2nd quarter valued at $156,000. Institutional investors and hedge funds own 96.73% of the company’s stock.

Insider Activity

In related news, CEO John Edward Adent acquired 14,500 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were purchased at an average price of $13.80 per share, with a total value of $200,100.00. Following the acquisition, the chief executive officer now directly owns 216,477 shares in the company, valued at $2,987,382.60. The trade was a 7.18 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 1.13% of the stock is currently owned by corporate insiders.

Neogen Price Performance

Shares of Neogen stock opened at $12.37 on Friday. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of -112.45 and a beta of 1.21. The firm’s 50-day moving average price is $14.75 and its two-hundred day moving average price is $15.61. The company has a current ratio of 4.41, a quick ratio of 2.79 and a debt-to-equity ratio of 0.28. Neogen Co. has a 1-year low of $11.46 and a 1-year high of $20.89.

Neogen (NASDAQ:NEOG) last released its quarterly earnings results 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 business had revenue of $217.00 million for the quarter, compared to analyst estimates of $215.05 million. Neogen had a negative net margin of 2.58% and a positive return on equity of 2.80%. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.11 earnings per share. On average, equities analysts predict that Neogen Co. will post 0.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.