Neogen Co. (NASDAQ:NEOG) Position Reduced by Blair William & Co. IL

Blair William & Co. IL lowered its stake in Neogen Co. (NASDAQ:NEOG) by 17.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,090,014 shares of the company’s stock after selling 662,921 shares during the period. Blair William & Co. IL owned 1.42% of Neogen worth $37,513,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Harbour Investments Inc. bought a new stake in Neogen in the fourth quarter valued at about $27,000. Blue Trust Inc. increased its holdings in shares of Neogen by 196.7% in the 4th quarter. Blue Trust Inc. now owns 3,368 shares of the company’s stock valued at $41,000 after acquiring an additional 2,233 shares during the last quarter. Neo Ivy Capital Management bought a new position in Neogen during the third quarter worth $66,000. KBC Group NV boosted its holdings in Neogen by 39.1% in the fourth quarter. KBC Group NV now owns 8,464 shares of the company’s stock worth $103,000 after purchasing an additional 2,379 shares during the period. Finally, Raymond James Trust N.A. bought a new stake in Neogen during the third quarter valued at $182,000. Institutional investors and hedge funds own 96.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Piper Sandler restated a “neutral” rating and issued a $13.00 price target (down from $16.50) on shares of Neogen in a research report on Tuesday, January 21st. Guggenheim initiated coverage on shares of Neogen in a report on Thursday, December 19th. They issued a “buy” rating and a $15.00 target price on the stock.

Insider Buying and Selling at Neogen

In other Neogen news, CFO David H. Naemura acquired 14,800 shares of Neogen stock in a transaction dated Thursday, January 16th. The stock was acquired at an average cost of $11.11 per share, for a total transaction of $164,428.00. Following the completion of the transaction, the chief financial officer now owns 61,434 shares in the company, valued at approximately $682,531.74. This represents a 31.74 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO John Edward Adent acquired 23,035 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was acquired at an average cost of $11.03 per share, with a total value of $254,076.05. Following the completion of the acquisition, the chief executive officer now directly owns 269,164 shares in the company, valued at approximately $2,968,878.92. This 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 currently owned by company insiders.

Neogen Trading Up 6.3 %

NASDAQ:NEOG opened at $8.96 on Friday. Neogen Co. has a 12-month low of $8.31 and a 12-month high of $18.58. 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 business has a 50 day simple moving average of $10.20 and a 200 day simple moving average of $12.80. The firm has a market capitalization of $1.94 billion, a P/E ratio of -4.09 and a beta of 1.27.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings results on Friday, January 10th. The company reported $0.11 earnings per share (EPS) 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 company had revenue of $231.30 million during the quarter, compared to the consensus estimate of $227.16 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year. Equities research analysts predict that Neogen Co. will post 0.38 EPS 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.