Neogen Co. (NASDAQ:NEOG) Shares Acquired by Moody National Bank Trust Division

Moody National Bank Trust Division boosted its holdings in shares of Neogen Co. (NASDAQ:NEOG) by 14.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,650 shares of the company’s stock after purchasing an additional 1,478 shares during the period. Moody National Bank Trust Division’s holdings in Neogen were worth $182,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mackenzie Financial Corp lifted its position in Neogen by 9.3% during the fourth quarter. Mackenzie Financial Corp now owns 5,868,784 shares of the company’s stock valued at $118,021,000 after purchasing an additional 497,856 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its position in Neogen by 67.5% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 616,190 shares of the company’s stock valued at $9,723,000 after purchasing an additional 248,340 shares during the period. Trigran Investments Inc. acquired a new position in Neogen during the fourth quarter valued at $12,048,000. SG Americas Securities LLC lifted its position in Neogen by 277.1% during the first quarter. SG Americas Securities LLC now owns 45,558 shares of the company’s stock valued at $719,000 after purchasing an additional 33,478 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in Neogen by 73.4% during the first quarter. BNP Paribas Financial Markets now owns 115,830 shares of the company’s stock valued at $1,828,000 after purchasing an additional 49,041 shares during the period. 96.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. StockNews.com raised shares of Neogen to a “sell” rating in a report on Wednesday, July 10th. Piper Sandler lifted their price objective on shares of Neogen from $17.00 to $17.50 and gave the company a “neutral” rating in a report on Tuesday.

Neogen Stock Performance

NEOG traded up $0.60 on Tuesday, reaching $16.75. The stock had a trading volume of 1,822,649 shares, compared to its average volume of 2,122,651. Neogen Co. has a 12-month low of $11.46 and a 12-month high of $24.09. The company has a current ratio of 3.82, a quick ratio of 2.66 and a debt-to-equity ratio of 0.28. The business’s 50-day moving average price is $16.06 and its two-hundred day moving average price is $15.22. The company has a market cap of $3.63 billion, a P/E ratio of 1,669.00 and a beta of 1.20.

Neogen (NASDAQ:NEOG) last released its earnings results on Tuesday, July 30th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). The company had revenue of $236.80 million for the quarter, compared to analysts’ expectations of $225.83 million. Neogen had a positive return on equity of 3.09% and a negative net margin of 1.02%. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.14 EPS. Sell-side analysts forecast that Neogen Co. will post 0.56 earnings per share 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.