Neogen Co. (NASDAQ:NEOG) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. trimmed its position in Neogen Co. (NASDAQ:NEOG - Free Report) by 2.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,009,264 shares of the company's stock after selling 46,521 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.93% of Neogen worth $33,776,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in NEOG. Select Equity Group L.P. raised its position in shares of Neogen by 23.1% in the 2nd quarter. Select Equity Group L.P. now owns 15,530,439 shares of the company's stock worth $242,741,000 after acquiring an additional 2,914,893 shares in the last quarter. William Blair Investment Management LLC increased its holdings in shares of Neogen by 64.7% in the second quarter. William Blair Investment Management LLC now owns 12,013,072 shares of the company's stock valued at $187,764,000 after purchasing an additional 4,717,696 shares during the period. Conestoga Capital Advisors LLC increased its holdings in shares of Neogen by 24.5% in the third quarter. Conestoga Capital Advisors LLC now owns 8,706,224 shares of the company's stock valued at $146,352,000 after purchasing an additional 1,711,238 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Neogen by 148.3% in the second 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 during the period. Finally, Blair William & Co. IL increased its holdings in shares of Neogen by 24.1% in the second quarter. Blair William & Co. IL now owns 3,487,126 shares of the company's stock valued at $54,504,000 after purchasing an additional 678,202 shares during the period. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO John Edward Adent bought 14,500 shares of Neogen stock in a transaction on 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 acquisition, the chief executive officer now directly owns 216,477 shares of the company's stock, valued at $2,987,382.60. The trade was a 7.18 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.13% of the stock is currently owned by company insiders.

Neogen Stock Performance

Shares of NEOG traded down $0.02 during mid-day trading on Wednesday, reaching $13.23. The company had a trading volume of 1,620,129 shares, compared to its average volume of 1,900,758. Neogen Co. has a 52-week low of $11.46 and a 52-week high of $20.89. 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 capitalization of $2.87 billion, a P/E ratio of -120.45 and a beta of 1.21. The stock has a 50 day moving average of $14.81 and a two-hundred day moving average of $15.62.

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

Wall Street Analysts Forecast Growth

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

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.