Bamco Inc. NY Has $122.77 Million Position in Neogen Co. (NASDAQ:NEOG)

Bamco Inc. NY increased its holdings in shares of Neogen Co. (NASDAQ:NEOG) by 1.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,303,115 shares of the company’s stock after buying an additional 98,067 shares during the period. Bamco Inc. NY’s holdings in Neogen were worth $122,765,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of Neogen by 142.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company’s stock worth $33,000 after purchasing an additional 1,165 shares during the period. Innealta Capital LLC acquired a new position in Neogen during the 2nd quarter worth about $46,000. Headlands Technologies LLC grew its position 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 buying an additional 2,464 shares during the last quarter. Family Firm Inc. acquired a new stake in shares of Neogen in the second quarter valued at about $90,000. Finally, Quantum Private Wealth LLC bought a new position in shares of Neogen during the second quarter worth about $156,000. 96.73% of the stock is owned by institutional investors.

Insider Buying and Selling at Neogen

In other news, CEO John Edward Adent acquired 14,500 shares of Neogen stock in a transaction on Friday, October 11th. The stock was purchased at an average price of $13.80 per share, with a total value of $200,100.00. Following the completion of the purchase, the chief executive officer now owns 216,477 shares of the company’s stock, valued at approximately $2,987,382.60. The trade was a 7.18 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.13% of the company’s stock.

Neogen Stock Up 0.3 %

Shares of Neogen stock opened at $14.18 on Monday. The stock’s 50-day moving average is $14.96 and its 200 day moving average is $15.61. Neogen Co. has a one year low of $11.46 and a one year high of $20.89. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of -128.91 and a beta of 1.23. 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) last announced its quarterly earnings data on Thursday, October 10th. The company reported $0.07 EPS for the quarter, missing the consensus estimate 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 company had revenue of $217.00 million for the quarter, compared to analyst estimates of $215.05 million. During the same period last year, the business earned $0.11 EPS. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. Equities research analysts anticipate that Neogen Co. will post 0.5 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.