UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Holdings in Neogen Co. (NASDAQ:NEOG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Neogen Co. (NASDAQ:NEOG - Free Report) by 8.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 549,639 shares of the company's stock after acquiring an additional 43,621 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.25% of Neogen worth $6,673,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Harbour Investments Inc. bought a new position in Neogen in the fourth quarter valued at about $27,000. Blue Trust Inc. boosted its position in shares of Neogen by 196.7% during the fourth 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. Johnson Financial Group Inc. bought a new stake in Neogen during the 4th quarter worth about $43,000. Covestor Ltd boosted its position in Neogen by 41.4% during the fourth 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 last quarter. Finally, KBC Group NV grew its stake in shares of Neogen by 39.1% in the fourth quarter. KBC Group NV now owns 8,464 shares of the company's stock valued at $103,000 after buying an additional 2,379 shares in the last quarter. 96.73% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Aashima Gupta acquired 16,000 shares of the business's stock in a transaction on Monday, May 12th. The shares were acquired at an average price of $6.25 per share, for a total transaction of $100,000.00. Following the completion of the transaction, the director now directly owns 21,917 shares of the company's stock, valued at approximately $136,981.25. The trade was a 270.41% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James C. Borel acquired 35,000 shares of the stock in a transaction on Thursday, April 24th. The stock was bought at an average cost of $4.89 per share, with a total value of $171,150.00. Following the completion of the transaction, the director now owns 60,474 shares in the company, valued at $295,717.86. This trade represents a 137.39% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 83,500 shares of company stock valued at $431,525. 1.13% of the stock is currently owned by company insiders.

Neogen Stock Performance

NEOG stock traded up $0.31 during midday trading on Tuesday, hitting $6.00. The company's stock had a trading volume of 3,532,614 shares, compared to its average volume of 3,084,253. The stock's 50-day moving average price is $6.11 and its 200 day moving average price is $9.62. 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 1 year low of $3.87 and a 1 year high of $18.58. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of -2.74 and a beta of 1.83.

Neogen (NASDAQ:NEOG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 9th. The company reported $0.10 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $221.00 million during the quarter, compared to the consensus estimate of $225.27 million. During the same period in the previous year, the business earned $0.12 earnings per share. The firm's revenue for the quarter was down 3.4% on a year-over-year basis. On average, equities analysts forecast that Neogen Co. will post 0.38 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on NEOG shares. Piper Sandler dropped their price objective on shares of Neogen from $6.40 to $5.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Guggenheim dropped their price objective on Neogen from $15.00 to $13.00 and set a "buy" rating for the company in a research report on Thursday, April 10th.

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.