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

Boston Family Office LLC lowered its stake in Neogen Co. (NASDAQ:NEOG) by 4.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,866 shares of the company’s stock after selling 4,435 shares during the period. Boston Family Office LLC’s holdings in Neogen were worth $1,079,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Neogen during the fourth quarter valued at approximately $212,171,000. Vanguard Group Inc. boosted its holdings in shares of Neogen by 9.8% during the 4th 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 in the last quarter. William Blair Investment Management LLC grew its position 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 buying an additional 1,074,825 shares during the period. American Century Companies Inc. increased its stake 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 acquiring an additional 924,571 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its position in Neogen by 26.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,369,595 shares of the company’s stock valued at $28,767,000 after acquiring an additional 501,957 shares during the period. 96.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Neogen

In related news, CEO John Edward Adent bought 23,035 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was acquired at an average cost of $11.03 per share, for a total transaction of $254,076.05. Following the purchase, the chief executive officer now 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David H. Naemura purchased 14,800 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was purchased at an average price of $11.11 per share, for a total transaction of $164,428.00. Following the completion of the purchase, the chief financial officer now owns 61,434 shares in the company, valued at approximately $682,531.74. The trade was 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 Price Performance

Shares of NEOG opened at $8.39 on Wednesday. The company has a market capitalization of $1.82 billion, a P/E ratio of -3.83 and a beta of 1.27. Neogen Co. has a twelve month low of $8.04 and a twelve month high of $18.58. The company has a quick ratio of 2.46, a current ratio of 3.77 and a debt-to-equity ratio of 0.33. The firm has a 50 day moving average of $10.02 and a 200 day moving average of $12.62.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings results 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. Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. The firm had revenue of $231.30 million during the quarter, compared to analysts’ expectations of $227.16 million. During the same quarter in the previous year, the business earned $0.11 earnings per share. The company’s revenue was up .7% on a year-over-year basis. As a group, equities research analysts anticipate that Neogen Co. will post 0.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.