Neogen Co. (NASDAQ:NEOG) Stake Trimmed by Baillie Gifford & Co.

Baillie Gifford & Co. lowered its holdings in Neogen Co. (NASDAQ:NEOG - Free Report) by 3.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,227,219 shares of the company's stock after selling 353,767 shares during the period. Baillie Gifford & Co. owned approximately 5.18% of Neogen worth $188,730,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. William Blair Investment Management LLC boosted its holdings 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 worth $187,764,000 after acquiring an additional 4,717,696 shares during the period. Select Equity Group L.P. boosted 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 purchasing an additional 2,914,893 shares during the period. Dimensional Fund Advisors LP grew its holdings in 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 purchasing an additional 2,454,566 shares in the last quarter. Shapiro Capital Management LLC purchased a new stake in Neogen during the 2nd quarter worth $31,087,000. Finally, Fred Alger Management LLC lifted its holdings in Neogen by 542.3% in the 2nd quarter. Fred Alger Management LLC now owns 2,137,317 shares of the company's stock worth $33,406,000 after buying an additional 1,804,550 shares in the last quarter. Hedge funds and other institutional investors own 96.73% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on NEOG shares. StockNews.com raised Neogen to a "sell" rating in a research report on Monday, September 30th. Piper Sandler upped their target price on Neogen from $17.00 to $17.50 and gave the company a "neutral" rating in a research report on Tuesday, August 6th.

Insider Activity at Neogen

In related news, CEO John Edward Adent purchased 14,500 shares of Neogen stock in a transaction dated Friday, October 11th. The stock was bought at an average cost of $13.80 per share, with a total value of $200,100.00. Following the purchase, the chief executive officer now owns 216,477 shares in the company, valued at approximately $2,987,382.60. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.13% of the stock is currently owned by insiders.

Neogen Stock Performance

Shares of NEOG stock traded down $0.74 on Tuesday, hitting $15.66. 1,262,090 shares of the stock traded hands, compared to its average volume of 1,907,564. The company has a market capitalization of $3.39 billion, a PE ratio of -145.82 and a beta of 1.23. The company's fifty day moving average is $15.37 and its 200 day moving average is $15.40. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.41 and a quick ratio of 2.79. Neogen Co. has a 1-year low of $11.46 and a 1-year high of $20.89.

Neogen (NASDAQ:NEOG - Get Free Report) last posted its quarterly 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). Neogen had a negative net margin of 2.58% and a positive return on equity of 2.80%. The business had revenue of $217.00 million during the quarter, compared to analyst estimates of $215.05 million. During the same period last year, the firm posted $0.11 earnings per share. The company's quarterly revenue was down 5.2% on a year-over-year basis. On average, equities research analysts predict that Neogen Co. will post 0.5 earnings per share for the current fiscal year.

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.