Curi RMB Capital LLC Grows Stock Holdings in Neogen Co. (NASDAQ:NEOG)

Curi RMB Capital LLC lifted its position in Neogen Co. (NASDAQ:NEOG) by 3.2% in the third quarter, Holdings Channel.com reports. The firm owned 421,244 shares of the company’s stock after purchasing an additional 13,126 shares during the quarter. Curi RMB Capital LLC’s holdings in Neogen were worth $7,081,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Covestor Ltd lifted its position in Neogen by 173.2% in the 1st quarter. Covestor Ltd now owns 1,970 shares of the company’s stock worth $31,000 after buying an additional 1,249 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Neogen by 142.6% in the 3rd 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 last quarter. Innealta Capital LLC purchased a new stake in shares of Neogen in the 2nd quarter valued at $46,000. Headlands Technologies LLC grew its holdings in shares of Neogen by 264.1% during 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 last quarter. Finally, Family Firm Inc. purchased a new position in Neogen in the 2nd quarter worth $90,000. 96.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Analysts Set New Price Targets

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

Neogen Stock Performance

Shares of Neogen stock opened at $14.64 on Friday. 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 Co. has a 52-week low of $11.46 and a 52-week high of $20.89. The company’s 50 day moving average price is $15.31 and its 200-day moving average price is $15.41.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings results on Thursday, October 10th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $217.00 million for the quarter, compared to analysts’ expectations of $215.05 million. During the same period in the previous year, the company earned $0.11 EPS. The company’s quarterly revenue was down 5.2% on a year-over-year basis. On average, sell-side 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.