Harbor Capital Advisors Inc. Acquires 316,457 Shares of Neogen Co. (NASDAQ:NEOG)

Harbor Capital Advisors Inc. lifted its holdings in shares of Neogen Co. (NASDAQ:NEOG) by 32.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,303,465 shares of the company’s stock after purchasing an additional 316,457 shares during the period. Neogen comprises about 0.7% of Harbor Capital Advisors Inc.’s investment portfolio, making the stock its 14th biggest position. Harbor Capital Advisors Inc. owned 0.60% of Neogen worth $15,824,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in NEOG. Inspire Investing LLC increased its stake in shares of Neogen by 2.7% in the second quarter. Inspire Investing LLC now owns 26,074 shares of the company’s stock worth $408,000 after buying an additional 685 shares during the period. Stephens Inc. AR grew its stake in shares of Neogen by 2.6% in the third quarter. Stephens Inc. AR now owns 35,930 shares of the company’s stock worth $604,000 after purchasing an additional 909 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Neogen by 1.9% in the second quarter. Arizona State Retirement System now owns 57,609 shares of the company’s stock worth $900,000 after purchasing an additional 1,079 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Neogen by 142.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company’s stock valued at $33,000 after purchasing an additional 1,165 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its position in Neogen by 3.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 36,630 shares of the company’s stock valued at $573,000 after purchasing an additional 1,190 shares during the last quarter. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NEOG. Guggenheim began coverage on shares of Neogen in a research note on Thursday, December 19th. They issued a “buy” rating and a $15.00 price target for the company. StockNews.com upgraded shares of Neogen to a “sell” rating in a research note on Monday, September 30th.

Neogen Stock Performance

Shares of Neogen stock traded down $1.05 during trading on Friday, hitting $12.02. 2,802,574 shares of the company’s stock traded hands, compared to its average volume of 2,325,444. The business has a 50-day simple moving average of $13.54 and a 200-day simple moving average of $15.11. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.41 and a quick ratio of 2.79. The stock has a market capitalization of $2.60 billion, a P/E ratio of -109.27 and a beta of 1.23. Neogen Co. has a 1 year low of $11.46 and a 1 year high of $18.75.

Neogen (NASDAQ:NEOG) last released its quarterly earnings results on Friday, January 10th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.12. Neogen had a positive return on equity of 2.80% and a negative net margin of 2.58%. The business had revenue of $231.30 million during the quarter, compared to the consensus estimate of $227.16 million. During the same period in the previous year, the company posted $0.11 EPS. The business’s quarterly revenue was up .7% compared to the same quarter last year. As a group, analysts forecast that Neogen Co. will post 0.5 EPS for the current year.

Neogen 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.