PNC Financial Services Group Inc. Has $810,000 Stock Holdings in Neogen Co. (NASDAQ:NEOG)

PNC Financial Services Group Inc. lessened its holdings in Neogen Co. (NASDAQ:NEOG) by 5.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,260 shares of the company’s stock after selling 2,405 shares during the period. PNC Financial Services Group Inc.’s holdings in Neogen were worth $810,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of NEOG. Connable Office Inc. acquired a new stake in shares of Neogen in the fourth quarter worth $202,000. Vise Technologies Inc. acquired a new stake in Neogen during the fourth quarter valued at $220,000. Envestnet Portfolio Solutions Inc. acquired a new stake in Neogen during the third quarter valued at $229,000. Laurion Capital Management LP acquired a new stake in Neogen during the third quarter valued at $238,000. Finally, Washington Trust Advisors Inc. boosted its position in Neogen by 10.1% during the fourth quarter. Washington Trust Advisors Inc. now owns 11,966 shares of the company’s stock valued at $241,000 after purchasing an additional 1,100 shares during the last quarter. Institutional investors and hedge funds own 96.73% of the company’s stock.

Neogen Price Performance

NASDAQ NEOG opened at $16.58 on Tuesday. Neogen Co. has a fifty-two week low of $11.46 and a fifty-two week high of $24.09. The stock’s 50-day moving average is $13.85 and its two-hundred day moving average is $15.84. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.82 and a quick ratio of 2.66. The firm has a market cap of $3.59 billion, a P/E ratio of 1,659.66 and a beta of 1.19.

Neogen (NASDAQ:NEOG) last posted its earnings results on Tuesday, April 9th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.02). Neogen had a net margin of 0.17% and a return on equity of 3.35%. The company had revenue of $228.80 million for the quarter, compared to the consensus estimate of $230.01 million. During the same quarter last year, the business earned $0.12 earnings per share. Neogen’s quarterly revenue was up 4.8% on a year-over-year basis. On average, analysts anticipate that Neogen Co. will post 0.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Piper Sandler reduced their price objective on Neogen from $19.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, April 15th.

Insider Buying and Selling at Neogen

In related news, Director James C. Borel bought 7,500 shares of the business’s stock in a transaction on Thursday, April 11th. The shares were bought at an average cost of $13.06 per share, for a total transaction of $97,950.00. Following the completion of the acquisition, the director now directly owns 21,392 shares in the company, valued at $279,379.52. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other Neogen news, Director James C. Borel acquired 7,500 shares of the company’s stock in a transaction dated Thursday, April 11th. The shares were acquired at an average cost of $13.06 per share, for a total transaction of $97,950.00. Following the completion of the purchase, the director now owns 21,392 shares of the company’s stock, valued at approximately $279,379.52. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John Edward Adent acquired 23,000 shares of the company’s stock in a transaction dated Wednesday, April 10th. The stock was acquired at an average price of $12.36 per share, for a total transaction of $284,280.00. Following the completion of the purchase, the chief executive officer now directly owns 152,389 shares of the company’s stock, valued at approximately $1,883,528.04. The disclosure for this purchase can be found here. Insiders have purchased a total of 53,000 shares of company stock worth $662,205 over the last three months. Corporate insiders own 0.71% of the company’s stock.

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.