Zions Bancorporation N.A. Buys 17,119 Shares of Neogen Co. (NASDAQ:NEOG)

Zions Bancorporation N.A. raised its stake in Neogen Co. (NASDAQ:NEOG) by 17.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 116,916 shares of the company’s stock after purchasing an additional 17,119 shares during the quarter. Zions Bancorporation N.A. owned approximately 0.05% of Neogen worth $1,419,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Harbour Investments Inc. acquired a new stake in shares of Neogen in the 4th quarter valued at approximately $27,000. Blue Trust Inc. lifted its stake in Neogen by 196.7% in the fourth quarter. Blue Trust Inc. now owns 3,368 shares of the company’s stock valued at $41,000 after acquiring an additional 2,233 shares during the last quarter. Neo Ivy Capital Management bought a new position in shares of Neogen in the 3rd quarter valued at about $66,000. KBC Group NV increased its stake in shares of Neogen by 39.1% during the 4th quarter. KBC Group NV now owns 8,464 shares of the company’s stock worth $103,000 after purchasing an additional 2,379 shares during the last quarter. Finally, Hardy Reed LLC acquired a new position in shares of Neogen during the 4th quarter worth about $133,000. 96.73% of the stock is currently owned by institutional investors.

Insider Transactions at Neogen

In other Neogen news, CEO John Edward Adent purchased 23,035 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were acquired at an average cost of $11.03 per share, with a total value of $254,076.05. Following the completion of the transaction, the chief executive officer now owns 269,164 shares in the company, valued at $2,968,878.92. The trade was a 9.36 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David H. Naemura acquired 14,800 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was acquired at an average cost of $11.11 per share, with a total value of $164,428.00. Following the acquisition, the chief financial officer now directly owns 61,434 shares in the company, valued at approximately $682,531.74. This trade represents a 31.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.13% of the stock is owned by corporate insiders.

Neogen Price Performance

Shares of NEOG opened at $8.45 on Wednesday. The company’s 50-day moving average is $10.31 and its 200-day moving average is $12.86. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.77 and a quick ratio of 2.46. The firm has a market capitalization of $1.83 billion, a PE ratio of -3.86 and a beta of 1.27. Neogen Co. has a fifty-two week low of $8.44 and a fifty-two week high of $18.58.

Neogen (NASDAQ:NEOG) last released its quarterly earnings results on Friday, January 10th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.12. The firm had revenue of $231.30 million for the quarter, compared to analysts’ expectations of $227.16 million. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The business’s revenue was up .7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.11 EPS. Equities analysts forecast that Neogen Co. will post 0.38 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on NEOG. Piper Sandler reiterated a “neutral” rating and set a $13.00 price target (down previously from $16.50) on shares of Neogen in a report on Tuesday, January 21st. Guggenheim assumed coverage on Neogen in a research note on Thursday, December 19th. They set a “buy” rating and a $15.00 target price for the company.

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.