Allspring Global Investments Holdings LLC Has $33,000 Stock Holdings in Neogen Co. (NASDAQ:NEOG)

Allspring Global Investments Holdings LLC boosted its stake in shares of Neogen Co. (NASDAQ:NEOG) by 142.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,982 shares of the company’s stock after buying an additional 1,165 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Neogen were worth $33,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Raymond James & Associates grew its stake in shares of Neogen by 21.5% in the third quarter. Raymond James & Associates now owns 250,342 shares of the company’s stock valued at $4,208,000 after buying an additional 44,339 shares in the last quarter. McCollum Christoferson Group LLC lifted its holdings in shares of Neogen by 0.8% during the third quarter. McCollum Christoferson Group LLC now owns 258,304 shares of the company’s stock worth $4,342,000 after buying an additional 2,142 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of Neogen during the third quarter worth $2,664,000. Procyon Advisors LLC raised its stake in Neogen by 21.8% in the third quarter. Procyon Advisors LLC now owns 29,046 shares of the company’s stock valued at $488,000 after purchasing an additional 5,208 shares in the last quarter. Finally, Inspire Investing LLC raised its stake in Neogen by 6.6% in the third quarter. Inspire Investing LLC now owns 27,803 shares of the company’s stock valued at $467,000 after purchasing an additional 1,729 shares in the last quarter. 96.73% of the stock is currently owned by institutional investors and hedge funds.

Neogen Trading Up 4.1 %

NASDAQ NEOG opened at $15.02 on Wednesday. The firm has a market capitalization of $3.25 billion, a P/E ratio of -136.55 and a beta of 1.23. The business has a fifty day simple moving average of $15.50 and a 200 day simple moving average of $15.26. Neogen Co. has a 12 month low of $11.46 and a 12 month high of $20.89. The company has a current ratio of 4.41, a quick ratio of 2.79 and a debt-to-equity ratio of 0.28.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings data on Thursday, October 10th. The company reported $0.07 earnings per share (EPS) 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 the consensus estimate of $215.05 million. Neogen had a negative net margin of 2.58% and a positive return on equity of 2.80%. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.11 EPS. On average, analysts predict that Neogen Co. will post 0.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NEOG. Piper Sandler boosted their price target on Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. StockNews.com upgraded Neogen to a “sell” rating in a report on Monday, September 30th.

Insider Transactions at Neogen

In other news, CEO John Edward Adent purchased 14,500 shares of the business’s stock in a transaction dated 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 purchase, the chief executive officer now owns 216,477 shares of the company’s stock, valued at $2,987,382.60. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.13% of the stock is owned by corporate insiders.

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.