Neogen Co. (NASDAQ:NEOG) Shares Sold by Kennedy Capital Management LLC

Kennedy Capital Management LLC lessened its position in Neogen Co. (NASDAQ:NEOG) by 24.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 165,285 shares of the company’s stock after selling 53,458 shares during the period. Kennedy Capital Management LLC’s holdings in Neogen were worth $2,608,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Covestor Ltd lifted its position in Neogen by 173.2% in the first quarter. Covestor Ltd now owns 1,970 shares of the company’s stock valued at $31,000 after purchasing an additional 1,249 shares during the period. Connable Office Inc. acquired a new stake in shares of Neogen in the 4th quarter valued at approximately $202,000. Moody National Bank Trust Division purchased a new stake in shares of Neogen in the first quarter valued at approximately $161,000. Vise Technologies Inc. acquired a new position in Neogen during the fourth quarter worth $220,000. Finally, Bayesian Capital Management LP purchased a new position in Neogen in the first quarter worth $175,000. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Neogen Price Performance

Neogen stock traded down $0.59 during trading hours on Wednesday, hitting $16.99. The stock had a trading volume of 415,159 shares, compared to its average volume of 2,101,881. Neogen Co. has a 1-year low of $11.46 and a 1-year high of $24.09. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of 1,759.76 and a beta of 1.20. The stock’s fifty day moving average is $15.80 and its two-hundred day moving average is $15.25. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.82 and a quick ratio of 2.66.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). The business had revenue of $236.80 million during the quarter, compared to analyst estimates of $225.83 million. Neogen had a net margin of 0.17% and a return on equity of 3.35%. Neogen’s revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.14 earnings per share. As a group, analysts predict that Neogen Co. will post 0.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NEOG. Piper Sandler lowered their price target on shares of Neogen from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, April 15th. StockNews.com upgraded shares of Neogen to a “sell” rating in a research report on Wednesday, July 10th.

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.