Stifel Financial Corp Sells 3,816 Shares of Neogen Co. (NASDAQ:NEOG)

Stifel Financial Corp trimmed its position in shares of Neogen Co. (NASDAQ:NEOG) by 16.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,250 shares of the company’s stock after selling 3,816 shares during the quarter. Stifel Financial Corp’s holdings in Neogen were worth $324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in NEOG. William Blair Investment Management LLC increased its stake in shares of Neogen by 64.7% during the 2nd quarter. William Blair Investment Management LLC now owns 12,013,072 shares of the company’s stock worth $187,764,000 after purchasing an additional 4,717,696 shares during the last quarter. Select Equity Group L.P. raised its stake in shares of Neogen by 23.1% in the second 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 period. Dimensional Fund Advisors LP lifted its position in shares of Neogen by 148.3% during 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. Shapiro Capital Management LLC bought a new position in shares of Neogen during the 2nd quarter worth $31,087,000. Finally, Fred Alger Management LLC increased its holdings in Neogen by 86.5% in the 3rd quarter. Fred Alger Management LLC now owns 3,986,744 shares of the company’s stock worth $67,017,000 after acquiring an additional 1,849,427 shares during the last quarter. Institutional investors own 96.73% of the company’s stock.

Insider Buying and Selling at Neogen

In other Neogen news, CEO John Edward Adent bought 14,500 shares of Neogen stock in a transaction dated Friday, October 11th. The shares were purchased at an average cost of $13.80 per share, for a total transaction 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 represents a 7.18 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 1.13% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NEOG. StockNews.com upgraded Neogen to a “sell” rating in a research note on Monday, September 30th. Guggenheim began coverage on shares of Neogen in a report on Thursday, December 19th. They issued a “buy” rating and a $15.00 price target on the stock.

Neogen Stock Performance

Shares of NEOG opened at $12.43 on Friday. The company has a quick ratio of 2.79, a current ratio of 4.41 and a debt-to-equity ratio of 0.28. The stock has a market cap of $2.69 billion, a P/E ratio of -113.00 and a beta of 1.21. The business’s 50 day moving average price is $13.82 and its 200-day moving average price is $15.38. Neogen Co. has a 52 week low of $11.46 and a 52 week high of $20.72.

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

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.