Neogen Co. (NASDAQ:NEOG) Shares Sold by Huntington National Bank

Huntington National Bank lowered its stake in shares of Neogen Co. (NASDAQ:NEOG) by 8.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,211 shares of the company’s stock after selling 1,287 shares during the quarter. Huntington National Bank’s holdings in Neogen were worth $239,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NEOG. Covestor Ltd raised its holdings in shares of Neogen by 173.2% during the first quarter. Covestor Ltd now owns 1,970 shares of the company’s stock valued at $31,000 after buying an additional 1,249 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Neogen by 142.6% during the 3rd 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 in the last quarter. Innealta Capital LLC acquired a new position in Neogen during the 2nd quarter worth $46,000. Headlands Technologies LLC boosted its position in Neogen by 264.1% during the 2nd quarter. Headlands Technologies LLC now owns 3,397 shares of the company’s stock worth $53,000 after acquiring an additional 2,464 shares during the period. Finally, Family Firm Inc. acquired a new position in shares of Neogen during the second quarter valued at $90,000. 96.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NEOG. Piper Sandler upped their price objective on shares of Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. StockNews.com raised shares of Neogen to a “sell” rating in a research note on Monday, September 30th.

Neogen Stock Down 0.3 %

Shares of NEOG stock opened at $14.60 on Monday. Neogen Co. has a 1 year low of $11.46 and a 1 year high of $20.89. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.79 and a current ratio of 4.41. The business’s fifty day moving average is $15.29 and its 200-day moving average is $15.47. The stock has a market cap of $3.16 billion, a PE ratio of -132.73 and a beta of 1.23.

Neogen (NASDAQ:NEOG) last released its earnings results on Thursday, October 10th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). Neogen had a positive return on equity of 2.80% and a negative net margin of 2.58%. The firm had revenue of $217.00 million for the quarter, compared to analyst estimates of $215.05 million. During the same period in the previous year, the firm earned $0.11 earnings per share. Neogen’s revenue was down 5.2% on a year-over-year basis. Equities analysts expect that Neogen Co. will post 0.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Neogen news, CEO John Edward Adent purchased 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, for a total transaction of $200,100.00. Following the completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.13% of the company’s stock.

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.