Charles Schwab Investment Management Inc. Has $33.78 Million Holdings in Neogen Co. (NASDAQ:NEOG)

Charles Schwab Investment Management Inc. lessened its holdings in Neogen Co. (NASDAQ:NEOG) by 2.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,009,264 shares of the company’s stock after selling 46,521 shares during the period. Charles Schwab Investment Management Inc. owned about 0.93% of Neogen worth $33,776,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in NEOG. Select Equity Group L.P. increased its stake in Neogen by 23.1% in the 2nd quarter. Select Equity Group L.P. now owns 15,530,439 shares of the company’s stock valued at $242,741,000 after buying an additional 2,914,893 shares during the last quarter. William Blair Investment Management LLC increased its stake in Neogen by 64.7% in the 2nd quarter. William Blair Investment Management LLC now owns 12,013,072 shares of the company’s stock valued at $187,764,000 after buying an additional 4,717,696 shares during the last quarter. Conestoga Capital Advisors LLC increased its stake in Neogen by 24.5% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 8,706,224 shares of the company’s stock valued at $146,352,000 after buying an additional 1,711,238 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Neogen by 148.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,109,180 shares of the company’s stock valued at $64,229,000 after buying an additional 2,454,566 shares during the last quarter. Finally, Blair William & Co. IL increased its stake in Neogen by 24.1% in the 2nd quarter. Blair William & Co. IL now owns 3,487,126 shares of the company’s stock valued at $54,504,000 after buying an additional 678,202 shares during the last quarter. Institutional investors and hedge funds own 96.73% of the company’s stock.

Neogen Trading Down 3.8 %

Shares of NEOG stock opened at $13.25 on Wednesday. The company has a 50 day moving average of $14.89 and a 200-day moving average of $15.63. The company has a quick ratio of 2.79, a current ratio of 4.41 and a debt-to-equity ratio of 0.28. Neogen Co. has a 12-month low of $11.46 and a 12-month high of $20.89. The firm has a market cap of $2.87 billion, a P/E ratio of -120.45 and a beta of 1.21.

Neogen (NASDAQ:NEOG) last released its quarterly earnings data on Thursday, October 10th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.03). The business had revenue of $217.00 million during the quarter, compared to the consensus estimate of $215.05 million. Neogen had a positive return on equity of 2.80% and a negative net margin of 2.58%. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period last year, the business posted $0.11 earnings per share. Sell-side analysts anticipate that Neogen Co. will post 0.5 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO John Edward Adent purchased 14,500 shares of the business’s stock in a transaction on Friday, October 11th. The stock was purchased at an average cost of $13.80 per share, with a total value of $200,100.00. Following the acquisition, the chief executive officer now directly owns 216,477 shares in the company, valued at approximately $2,987,382.60. This trade represents a 7.18 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

NEOG has been the subject of several analyst reports. Piper Sandler increased their price objective on shares of Neogen from $17.00 to $17.50 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. StockNews.com upgraded shares of Neogen to a “sell” rating in a research note on Monday, September 30th.

Neogen 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.