Harbor Capital Advisors Inc. Grows Position in Neogen Co. (NASDAQ:NEOG)

Harbor Capital Advisors Inc. boosted its stake in shares of Neogen Co. (NASDAQ:NEOG) by 32.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,303,465 shares of the company’s stock after buying an additional 316,457 shares during the period. Neogen comprises 0.7% of Harbor Capital Advisors Inc.’s holdings, making the stock its 14th biggest position. Harbor Capital Advisors Inc.’s holdings in Neogen were worth $15,824,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of NEOG. Allspring Global Investments Holdings LLC increased its holdings in shares of Neogen by 142.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company’s stock worth $33,000 after buying an additional 1,165 shares during the last quarter. Headlands Technologies LLC lifted its stake in shares of Neogen by 264.1% in the 2nd quarter. Headlands Technologies LLC now owns 3,397 shares of the company’s stock valued at $53,000 after purchasing an additional 2,464 shares during the last quarter. Neo Ivy Capital Management purchased a new position in shares of Neogen in the 3rd quarter worth approximately $66,000. Marco Investment Management LLC bought a new position in shares of Neogen during the 3rd quarter valued at approximately $169,000. Finally, Raymond James Trust N.A. bought a new stake in Neogen in the third quarter worth $182,000. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on NEOG shares. Guggenheim initiated coverage on shares of Neogen in a research note on Thursday, December 19th. They issued a “buy” rating and a $15.00 target price on the stock. StockNews.com raised shares of Neogen to a “sell” rating in a research note on Monday, September 30th.

Neogen Trading Down 8.0 %

NEOG traded down $1.05 on Friday, reaching $12.02. 2,802,574 shares of the company traded hands, compared to its average volume of 2,325,444. The company has a quick ratio of 2.79, a current ratio of 4.41 and a debt-to-equity ratio of 0.28. The company has a market cap of $2.60 billion, a P/E ratio of -109.27 and a beta of 1.23. The firm has a fifty day simple moving average of $13.54 and a two-hundred day simple moving average of $15.11. Neogen Co. has a one year low of $11.46 and a one year high of $18.75.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings data on Friday, January 10th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.12. The company had revenue of $231.30 million for the quarter, compared to analysts’ expectations of $227.16 million. Neogen had a positive return on equity of 2.80% and a negative net margin of 2.58%. Neogen’s revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.11 earnings per share. As a group, equities research analysts expect that Neogen Co. will post 0.5 earnings per share 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.