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

Bank of America Corp DE raised its position in Neogen Co. (NASDAQ:NEOG - Free Report) by 2.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 3,578,755 shares of the company's stock after buying an additional 76,906 shares during the period. Bank of America Corp DE owned about 1.65% of Neogen worth $43,446,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of NEOG. Harbour Investments Inc. bought a new position in shares of Neogen in the 4th quarter worth $27,000. Blue Trust Inc. raised its stake in shares of Neogen by 196.7% in the 4th quarter. Blue Trust Inc. now owns 3,368 shares of the company's stock valued at $41,000 after purchasing an additional 2,233 shares during the period. Johnson Financial Group Inc. acquired a new stake in shares of Neogen in the 4th quarter valued at about $43,000. Covestor Ltd raised its stake in shares of Neogen by 41.4% in the 4th quarter. Covestor Ltd now owns 4,103 shares of the company's stock valued at $50,000 after purchasing an additional 1,202 shares during the period. Finally, KBC Group NV raised its stake in shares of Neogen by 39.1% in the 4th quarter. KBC Group NV now owns 8,464 shares of the company's stock valued at $103,000 after purchasing an additional 2,379 shares during the period. 96.73% of the stock is currently owned by institutional investors.

Insider Transactions at Neogen

In other Neogen news, Director James C. Borel bought 35,000 shares of the business's stock in a transaction on Thursday, April 24th. The stock was purchased at an average cost of $4.89 per share, for a total transaction of $171,150.00. Following the completion of the purchase, the director now directly owns 60,474 shares of the company's stock, valued at approximately $295,717.86. This trade represents a 137.39% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James P. Tobin bought 10,000 shares of the business's stock in a transaction on Tuesday, April 22nd. The shares were acquired at an average price of $4.73 per share, with a total value of $47,300.00. Following the completion of the purchase, the director now directly owns 37,474 shares of the company's stock, valued at approximately $177,252.02. The trade was a 36.40% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 83,500 shares of company stock worth $431,525 over the last quarter. Company insiders own 1.13% of the company's stock.

Analyst Upgrades and Downgrades

NEOG has been the topic of a number of recent research reports. Guggenheim lowered their target price on Neogen from $15.00 to $13.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Piper Sandler lowered their target price on Neogen from $6.40 to $5.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd.

Neogen Stock Performance

NASDAQ NEOG traded up $0.08 during trading on Tuesday, reaching $6.48. 287,119 shares of the company's stock were exchanged, compared to its average volume of 3,009,849. The business has a 50 day moving average price of $6.69 and a 200-day moving average price of $10.27. The stock has a market capitalization of $1.41 billion, a P/E ratio of -2.97 and a beta of 1.83. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.77 and a quick ratio of 2.46. Neogen Co. has a fifty-two week low of $3.87 and a fifty-two week high of $18.58.

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

About Neogen

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.