Neogen Co. (NASDAQ:NEOG) Shares Sold by Blair William & Co. IL

Blair William & Co. IL trimmed its position in Neogen Co. (NASDAQ:NEOG) by 17.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,090,014 shares of the company’s stock after selling 662,921 shares during the period. Blair William & Co. IL’s holdings in Neogen were worth $37,513,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Neogen by 9.8% in the fourth quarter. Vanguard Group Inc. now owns 21,637,251 shares of the company’s stock valued at $262,676,000 after buying an additional 1,928,491 shares during the period. Fred Alger Management LLC boosted its position in shares of Neogen by 86.5% during the 3rd quarter. Fred Alger Management LLC now owns 3,986,744 shares of the company’s stock valued at $67,017,000 after purchasing an additional 1,849,427 shares in the last quarter. William Blair Investment Management LLC grew its stake in shares of Neogen by 8.1% in the 4th quarter. William Blair Investment Management LLC now owns 14,346,759 shares of the company’s stock worth $174,170,000 after purchasing an additional 1,074,825 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Neogen by 55.0% in the 4th quarter. American Century Companies Inc. now owns 2,606,043 shares of the company’s stock worth $31,637,000 after purchasing an additional 924,571 shares in the last quarter. Finally, American Capital Management Inc. lifted its stake in Neogen by 36.5% during the third quarter. American Capital Management Inc. now owns 3,414,700 shares of the company’s stock valued at $57,401,000 after purchasing an additional 913,604 shares during the last quarter. 96.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

NEOG has been the topic of several recent research reports. Guggenheim initiated coverage on shares of Neogen in a research report on Thursday, December 19th. They issued a “buy” rating and a $15.00 price target on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $13.00 target price (down from $16.50) on shares of Neogen in a research report on Tuesday, January 21st.

Insider Activity at Neogen

In other Neogen news, CFO David H. Naemura bought 14,800 shares of the stock in a transaction on Thursday, January 16th. The shares were bought at an average price of $11.11 per share, with a total value of $164,428.00. Following the purchase, the chief financial officer now directly owns 61,434 shares in the company, valued at $682,531.74. The trade was a 31.74 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO John Edward Adent bought 23,035 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was acquired at an average price of $11.03 per share, for a total transaction of $254,076.05. Following the acquisition, the chief executive officer now directly owns 269,164 shares in the company, valued at $2,968,878.92. This trade represents a 9.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.13% of the stock is owned by insiders.

Neogen Stock Performance

Neogen stock opened at $8.96 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.77 and a quick ratio of 2.46. The company has a market cap of $1.94 billion, a P/E ratio of -4.09 and a beta of 1.27. Neogen Co. has a fifty-two week low of $8.31 and a fifty-two week high of $18.58. The firm’s 50 day simple moving average is $10.20 and its 200-day simple moving average is $12.80.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings data on Friday, January 10th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.12. The firm had revenue of $231.30 million for the quarter, compared to analysts’ expectations of $227.16 million. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.11 EPS. As a group, equities research analysts predict that Neogen Co. will post 0.38 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.