PNC Financial Services Group Inc. cut its position in Neogen Co. (NASDAQ:NEOG – Free Report) by 4.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 42,665 shares of the company’s stock after selling 1,895 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Neogen were worth $791,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC bought a new stake in shares of Neogen during the first quarter valued at approximately $29,000. State of Tennessee Treasury Department bought a new stake in shares of Neogen during the first quarter valued at approximately $45,000. International Assets Investment Management LLC bought a new stake in shares of Neogen during the third quarter valued at approximately $49,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Neogen by 416.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,033 shares of the company’s stock valued at $56,000 after buying an additional 2,446 shares during the last quarter. Finally, First Manhattan CO. LLC. bought a new stake in shares of Neogen during the first quarter valued at approximately $68,000. 96.73% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Separately, Piper Sandler lifted their price target on Neogen from $17.50 to $19.00 and gave the company a “neutral” rating in a report on Thursday, January 18th.
View Our Latest Stock Analysis on NEOG
Neogen Stock Performance
NEOG opened at $16.86 on Tuesday. Neogen Co. has a twelve month low of $14.44 and a twelve month high of $24.09. The stock has a market cap of $3.65 billion, a PE ratio of 281.05 and a beta of 1.12. The business’s 50 day moving average is $17.85 and its 200-day moving average is $18.19. The company has a current ratio of 3.54, a quick ratio of 2.63 and a debt-to-equity ratio of 0.28.
Neogen (NASDAQ:NEOG – Get Free Report) last announced its earnings results on Tuesday, January 9th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.03 by $0.08. Neogen had a return on equity of 3.35% and a net margin of 1.28%. The firm had revenue of $229.60 million for the quarter, compared to analysts’ expectations of $232.85 million. During the same quarter in the previous year, the company earned $0.15 earnings per share. The firm’s quarterly revenue was down .2% compared to the same quarter last year. On average, analysts predict that Neogen Co. will post 0.55 earnings per share for the current 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.
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Source: americanbankingnews.com
