Neogen Co. (NASDAQ:NEOG) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in shares of Neogen Co. (NASDAQ:NEOG) by 13.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 506,018 shares of the company’s stock after selling 80,594 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.23% of Neogen worth $8,506,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position in shares of Neogen by 142.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company’s stock valued at $33,000 after acquiring an additional 1,165 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Neogen during the second quarter valued at about $46,000. Headlands Technologies LLC increased its position in shares of Neogen by 264.1% during the second quarter. Headlands Technologies LLC now owns 3,397 shares of the company’s stock valued at $53,000 after acquiring an additional 2,464 shares during the last quarter. Family Firm Inc. acquired a new stake in shares of Neogen during the second quarter valued at about $90,000. Finally, Quantum Private Wealth LLC purchased a new position in shares of Neogen in the second quarter valued at approximately $156,000. 96.73% of the stock is currently owned by institutional investors and hedge funds.

Neogen Trading Up 2.3 %

Shares of NEOG stock opened at $13.11 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.79 and a current ratio of 4.41. The stock has a market capitalization of $2.84 billion, a P/E ratio of -119.18 and a beta of 1.21. The company has a 50 day moving average price of $14.51 and a 200 day moving average price of $15.61. Neogen Co. has a fifty-two week low of $11.46 and a fifty-two week high of $20.89.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings data on Thursday, October 10th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). The business had revenue of $217.00 million during the quarter, compared to analyst estimates of $215.05 million. Neogen had a negative net margin of 2.58% and a positive return on equity of 2.80%. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.11 EPS. Equities research analysts predict that Neogen Co. will post 0.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO John Edward Adent purchased 14,500 shares of the stock in a transaction on Friday, October 11th. The stock was bought at an average price of $13.80 per share, for a total transaction of $200,100.00. Following the acquisition, the chief executive officer now directly owns 216,477 shares of the company’s stock, valued at approximately $2,987,382.60. The trade was a 7.18 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.13% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Neogen to a “sell” rating in a report on Monday, September 30th.

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.