Neogen Co. (NASDAQ:NEOG) Stock Holdings Trimmed by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC decreased its holdings in Neogen Co. (NASDAQ:NEOG) by 9.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 82,290 shares of the company’s stock after selling 8,144 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Neogen were worth $1,383,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of NEOG. Vanguard Group Inc. increased its stake in Neogen by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 19,715,974 shares of the company’s stock valued at $311,118,000 after buying an additional 169,237 shares during the period. Select Equity Group L.P. increased its stake in shares of Neogen by 23.1% during 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 acquiring an additional 2,914,893 shares during the period. William Blair Investment Management LLC raised its holdings in Neogen by 64.7% during the second 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 in the last quarter. Conestoga Capital Advisors LLC lifted its position in Neogen by 24.5% in the third quarter. Conestoga Capital Advisors LLC now owns 8,706,224 shares of the company’s stock worth $146,352,000 after purchasing an additional 1,711,238 shares during the period. Finally, Bamco Inc. NY boosted its stake in Neogen by 10.3% during the 1st quarter. Bamco Inc. NY now owns 7,304,967 shares of the company’s stock valued at $115,272,000 after purchasing an additional 680,668 shares in the last quarter. 96.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NEOG has been the subject of several research reports. Piper Sandler raised their target price on 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 report on Monday, September 30th.

Neogen Price Performance

Shares of NASDAQ:NEOG opened at $14.64 on Friday. The company has a market capitalization of $3.17 billion, a PE ratio of -133.09 and a beta of 1.23. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.79 and a current ratio of 4.41. The stock has a fifty day moving average of $15.31 and a 200-day moving average of $15.41. Neogen Co. has a one year low of $11.46 and a one year high of $20.89.

Neogen (NASDAQ:NEOG) last announced its earnings results on Thursday, October 10th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.03). The company had revenue of $217.00 million for the quarter, compared to analysts’ expectations of $215.05 million. Neogen had a negative net margin of 2.58% and a positive return on equity of 2.80%. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.11 earnings per share. As a group, equities analysts anticipate that Neogen Co. will post 0.5 EPS for the current fiscal year.

Insider Buying and Selling

In other Neogen news, CEO John Edward Adent bought 14,500 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was acquired at an average price of $13.80 per share, with a total value of $200,100.00. Following the completion of the transaction, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.13% of the company’s stock.

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.