Boston Family Office LLC Sells 4,435 Shares of Neogen Co. (NASDAQ:NEOG)

Boston Family Office LLC lessened its holdings in Neogen Co. (NASDAQ:NEOG) by 4.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 88,866 shares of the company’s stock after selling 4,435 shares during the quarter. Boston Family Office LLC’s holdings in Neogen were worth $1,079,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of 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 worth $262,676,000 after buying an additional 1,928,491 shares in the last quarter. Norges Bank bought a new stake in Neogen in the 4th quarter valued at $212,171,000. William Blair Investment Management LLC lifted its stake in 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 in the last quarter. State Street Corp boosted its holdings in shares of Neogen by 3.1% during the 3rd quarter. State Street Corp now owns 7,932,192 shares of the company’s stock valued at $133,340,000 after purchasing an additional 236,762 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Neogen by 0.4% in the third quarter. Geode Capital Management LLC now owns 5,148,388 shares of the company’s stock worth $86,559,000 after buying an additional 20,387 shares in the last quarter. 96.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NEOG. Piper Sandler reaffirmed a “neutral” rating and issued a $13.00 price objective (down previously from $16.50) on shares of Neogen in a research note on Tuesday, January 21st. Guggenheim assumed coverage on shares of Neogen in a research note on Thursday, December 19th. They set a “buy” rating and a $15.00 price target on the stock.

Insider Buying and Selling at Neogen

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

Neogen Stock Performance

NASDAQ NEOG opened at $8.39 on Wednesday. The company has a market cap of $1.82 billion, a P/E ratio of -3.83 and a beta of 1.27. The business’s 50 day moving average price is $10.02 and its 200-day moving average price is $12.62. Neogen Co. has a fifty-two week low of $8.04 and a fifty-two week high of $18.58. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.46 and a current ratio of 3.77.

Neogen (NASDAQ:NEOG) last announced its earnings results on Friday, January 10th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.12. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The business had revenue of $231.30 million for the quarter, compared to the consensus estimate of $227.16 million. During the same quarter in the prior year, the firm posted $0.11 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis. Sell-side analysts predict that Neogen Co. will post 0.38 earnings per share for the current year.

Neogen Company 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.