Commonwealth Equity Services LLC Has $573,000 Stock Position in Neogen Co. (NASDAQ:NEOG)

Commonwealth Equity Services LLC increased its holdings in Neogen Co. (NASDAQ:NEOG) by 3.4% during the second quarter, HoldingsChannel reports. The fund owned 36,630 shares of the company’s stock after acquiring an additional 1,190 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Neogen were worth $573,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Peregrine Capital Management LLC raised its stake in shares of Neogen by 1.3% in the second quarter. Peregrine Capital Management LLC now owns 571,724 shares of the company’s stock worth $8,936,000 after purchasing an additional 7,424 shares during the last quarter. Innealta Capital LLC purchased a new stake in Neogen in the 2nd quarter valued at $46,000. Conestoga Capital Advisors LLC boosted its holdings in Neogen by 1.9% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 6,994,986 shares of the company’s stock worth $109,332,000 after acquiring an additional 129,945 shares during the last quarter. Legato Capital Management LLC grew its stake in shares of Neogen by 20.3% in the 2nd quarter. Legato Capital Management LLC now owns 64,527 shares of the company’s stock worth $1,009,000 after acquiring an additional 10,901 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Neogen by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 1,957,993 shares of the company’s stock valued at $30,603,000 after purchasing an additional 20,989 shares during the last quarter. Institutional investors own 96.73% of the company’s stock.

Insider Activity at Neogen

In other news, Director James P. Tobin bought 3,000 shares of the stock in a transaction on Tuesday, August 6th. The shares were purchased at an average cost of $16.86 per share, for a total transaction of $50,580.00. Following the completion of the purchase, the director now directly owns 23,392 shares in the company, valued at approximately $394,389.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.71% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. StockNews.com raised shares of Neogen to a “sell” rating in a research report on Friday, September 13th. Piper Sandler boosted their target price on Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th.

Neogen Trading Down 0.4 %

Shares of Neogen stock opened at $17.46 on Friday. The firm has a market cap of $3.78 billion, a PE ratio of 1,738.00 and a beta of 1.21. Neogen Co. has a 1 year low of $11.46 and a 1 year high of $20.89. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.82 and a quick ratio of 2.59. The stock has a fifty day moving average price of $16.61 and a 200-day moving average price of $15.20.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). The company had revenue of $236.80 million for the quarter, compared to analysts’ expectations of $225.83 million. Neogen had a positive return on equity of 3.09% and a negative net margin of 1.02%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the business posted $0.14 EPS. Equities research analysts anticipate that Neogen Co. will post 0.54 EPS for the current 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.