Washington Trust Advisors Inc. Boosts Stake in Neogen Co. (NASDAQ:NEOG)

Washington Trust Advisors Inc. grew its stake in Neogen Co. (NASDAQ:NEOG) by 10.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,966 shares of the company’s stock after purchasing an additional 1,100 shares during the quarter. Washington Trust Advisors Inc.’s holdings in Neogen were worth $241,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of NEOG. BlackRock Inc. grew its holdings in shares of Neogen by 2.8% in the second quarter. BlackRock Inc. now owns 25,038,824 shares of the company’s stock valued at $544,594,000 after purchasing an additional 671,832 shares in the last quarter. Select Equity Group L.P. acquired a new position in Neogen during the 1st quarter worth approximately $147,849,000. State Street Corp grew its holdings in Neogen by 2.9% during the 2nd quarter. State Street Corp now owns 7,780,439 shares of the company’s stock worth $169,225,000 after acquiring an additional 216,035 shares in the last quarter. Geode Capital Management LLC grew its holdings in Neogen by 6.4% during the 2nd quarter. Geode Capital Management LLC now owns 4,844,776 shares of the company’s stock worth $105,374,000 after acquiring an additional 291,933 shares in the last quarter. Finally, William Blair Investment Management LLC grew its holdings in Neogen by 6.8% during the 3rd quarter. William Blair Investment Management LLC now owns 4,795,526 shares of the company’s stock worth $88,909,000 after acquiring an additional 306,111 shares in the last quarter. Institutional investors and hedge funds own 96.73% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler boosted their price target on shares of Neogen from $17.50 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, January 18th.

Neogen Stock Up 2.5 %

Shares of NASDAQ:NEOG traded up $0.39 during trading on Thursday, hitting $15.85. 549,388 shares of the company were exchanged, compared to its average volume of 1,864,516. The stock has a market capitalization of $3.43 billion, a P/E ratio of 262.04 and a beta of 1.14. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.54 and a quick ratio of 2.63. Neogen Co. has a 12-month low of $14.44 and a 12-month high of $24.09. The firm’s 50 day moving average price is $16.32 and its 200-day moving average price is $17.21.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings data on Tuesday, January 9th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.08. The business had revenue of $229.60 million during the quarter, compared to the consensus estimate of $232.85 million. Neogen had a net margin of 1.28% and a return on equity of 3.35%. The company’s revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.15 EPS. On average, research analysts predict that Neogen Co. will post 0.54 earnings per share for the current fiscal 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.