Neogen Co. (NASDAQ:NEOG) Position Trimmed by American International Group Inc.

American International Group Inc. trimmed its holdings in shares of Neogen Co. (NASDAQ:NEOG) by 3.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 372,624 shares of the company’s stock after selling 11,756 shares during the period. American International Group Inc. owned about 0.17% of Neogen worth $7,493,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. RMB Capital Management LLC boosted its stake in Neogen by 3.6% in the 4th quarter. RMB Capital Management LLC now owns 364,700 shares of the company’s stock worth $7,334,000 after purchasing an additional 12,734 shares during the period. Neuberger Berman Group LLC boosted its stake in Neogen by 27.3% in the 4th quarter. Neuberger Berman Group LLC now owns 298,877 shares of the company’s stock worth $6,010,000 after purchasing an additional 64,171 shares during the period. Ranger Investment Management L.P. boosted its stake in Neogen by 0.5% in the 4th quarter. Ranger Investment Management L.P. now owns 505,683 shares of the company’s stock worth $10,169,000 after purchasing an additional 2,520 shares during the period. Trigran Investments Inc. acquired a new position in Neogen in the 4th quarter worth approximately $12,048,000. Finally, Azimuth Capital Investment Management LLC boosted its stake in Neogen by 11.6% in the 4th quarter. Azimuth Capital Investment Management LLC now owns 127,662 shares of the company’s stock worth $2,567,000 after purchasing an additional 13,280 shares during the period. 96.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Piper Sandler decreased their price objective on shares of Neogen from $19.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, April 15th.

Neogen Trading Up 0.4 %

Shares of NASDAQ:NEOG opened at $16.84 on Thursday. The firm has a fifty day moving average of $13.61 and a two-hundred day moving average of $15.89. The firm has a market capitalization of $3.65 billion, a P/E ratio of 1,685.69 and a beta of 1.19. Neogen Co. has a 12-month low of $11.46 and a 12-month high of $24.09. The company has a quick ratio of 2.66, a current ratio of 3.82 and a debt-to-equity ratio of 0.28.

Neogen (NASDAQ:NEOG) last issued its earnings results on Tuesday, April 9th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). The company had revenue of $228.80 million for the quarter, compared to analyst estimates of $230.01 million. Neogen had a net margin of 0.17% and a return on equity of 3.35%. The company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the business earned $0.12 EPS. On average, equities analysts expect that Neogen Co. will post 0.46 EPS for the current fiscal year.

Insider Buying and Selling at Neogen

In related news, CEO John Edward Adent bought 23,000 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was bought at an average price of $12.36 per share, with a total value of $284,280.00. Following the purchase, the chief executive officer now directly owns 152,389 shares of the company’s stock, valued at approximately $1,883,528.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Neogen news, CEO John Edward Adent purchased 23,000 shares of the business’s stock in a transaction dated Wednesday, April 10th. The shares were acquired at an average price of $12.36 per share, for a total transaction of $284,280.00. Following the acquisition, the chief executive officer now owns 152,389 shares of the company’s stock, valued at $1,883,528.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James C. Borel purchased 7,500 shares of the business’s stock in a transaction dated Thursday, April 11th. The shares were acquired at an average price of $13.06 per share, for a total transaction of $97,950.00. Following the acquisition, the director now directly owns 21,392 shares in the company, valued at approximately $279,379.52. The disclosure for this purchase can be found here. Insiders purchased 53,000 shares of company stock valued at $662,205 in the last quarter. Company insiders own 0.71% of the company’s stock.

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.