Bank of America Corp DE Has $43.45 Million Holdings in Neogen Co. (NASDAQ:NEOG)

Bank of America Corp DE boosted its holdings in shares of Neogen Co. (NASDAQ:NEOG - Free Report) by 2.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,578,755 shares of the company's stock after buying an additional 76,906 shares during the quarter. Bank of America Corp DE owned about 1.65% of Neogen worth $43,446,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Connable Office Inc. boosted its holdings in shares of Neogen by 5.6% during the 4th quarter. Connable Office Inc. now owns 18,793 shares of the company's stock worth $228,000 after buying an additional 1,000 shares during the period. Covestor Ltd boosted its holdings in shares of Neogen by 41.4% during the 4th quarter. Covestor Ltd now owns 4,103 shares of the company's stock worth $50,000 after buying an additional 1,202 shares during the period. Inspire Advisors LLC boosted its holdings in shares of Neogen by 10.1% during the 4th quarter. Inspire Advisors LLC now owns 14,226 shares of the company's stock worth $173,000 after buying an additional 1,304 shares during the period. Blue Trust Inc. boosted its holdings in shares of Neogen by 196.7% during the 4th quarter. Blue Trust Inc. now owns 3,368 shares of the company's stock worth $41,000 after buying an additional 2,233 shares during the period. Finally, Harbour Investments Inc. bought a new stake in shares of Neogen during the 4th quarter worth $27,000. 96.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO John Patrick Moylan purchased 10,000 shares of the business's stock in a transaction that occurred on Thursday, April 10th. The stock was purchased at an average cost of $5.07 per share, with a total value of $50,700.00. Following the acquisition, the chief accounting officer now directly owns 10,000 shares of the company's stock, valued at approximately $50,700. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James C. Borel purchased 35,000 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The shares were purchased at an average cost of $4.89 per share, with a total value of $171,150.00. Following the completion of the acquisition, the director now directly owns 60,474 shares in the company, valued at $295,717.86. The trade was a 137.39% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 83,500 shares of company stock worth $431,525. 1.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NEOG. Piper Sandler decreased their price objective on shares of Neogen from $6.40 to $5.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Guggenheim reduced their price target on shares of Neogen from $15.00 to $13.00 and set a "buy" rating for the company in a report on Thursday, April 10th.

Neogen Stock Performance

Neogen stock traded up $0.05 during mid-day trading on Friday, reaching $6.61. The company had a trading volume of 3,484,738 shares, compared to its average volume of 3,017,816. The company has a quick ratio of 2.46, a current ratio of 3.77 and a debt-to-equity ratio of 0.33. Neogen Co. has a 52 week low of $3.87 and a 52 week high of $18.58. The company has a 50 day moving average of $6.75 and a 200-day moving average of $10.35. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -3.02 and a beta of 1.83.

Neogen (NASDAQ:NEOG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 9th. The company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.02). Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The company had revenue of $221.00 million during the quarter, compared to the consensus estimate of $225.27 million. During the same period last year, the company earned $0.12 earnings per share. Neogen's revenue for the quarter was down 3.4% on a year-over-year basis. On average, sell-side analysts expect that Neogen Co. will post 0.38 EPS for the current fiscal year.

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.