Franklin Resources Inc. boosted its holdings in shares of Neogen Co. (NASDAQ:NEOG - Free Report) by 33.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 923,918 shares of the company's stock after buying an additional 233,796 shares during the period. Franklin Resources Inc. owned approximately 0.43% of Neogen worth $15,531,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of 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 purchasing an additional 1,165 shares in the last quarter. Innealta Capital LLC purchased a new stake in Neogen in the 2nd quarter valued at $46,000. Headlands Technologies LLC lifted its stake in 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 acquiring an additional 2,464 shares in the last quarter. Neo Ivy Capital Management purchased a new position in Neogen during the 3rd quarter worth $66,000. Finally, Marco Investment Management LLC bought a new stake in shares of Neogen in the 3rd quarter worth $169,000. 96.73% of the stock is owned by institutional investors.
In other news, CEO John Edward Adent purchased 14,500 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 216,477 shares of the company's stock, valued at approximately $2,987,382.60. This represents a 7.18 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.13% of the company's stock.
A number of research analysts recently weighed in on NEOG shares. StockNews.com raised shares of Neogen to a "sell" rating in a research report on Monday, September 30th. Guggenheim began coverage on shares of Neogen in a research note on Thursday. They issued a "buy" rating and a $15.00 price objective for the company.
Get Our Latest Stock Report on Neogen
Shares of NASDAQ:NEOG opened at $12.04 on Friday. Neogen Co. has a 1 year low of $11.46 and a 1 year high of $20.89. The company has a market capitalization of $2.61 billion, a PE ratio of -109.45 and a beta of 1.21. The business has a fifty day moving average price of $14.08 and a two-hundred day moving average price of $15.52. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.41 and a quick ratio of 2.79.
Neogen (NASDAQ:NEOG - Get Free Report) last posted 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). The company had revenue of $217.00 million for the quarter, compared to the consensus estimate of $215.05 million. Neogen had a negative net margin of 2.58% and a positive return on equity of 2.80%. Neogen's quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 EPS. Analysts forecast that Neogen Co. will post 0.5 earnings per share for the current 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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