Conestoga Capital Advisors LLC Has $103.23 Million Stock Position in Neogen Co. (NASDAQ:NEOG)

Conestoga Capital Advisors LLC reduced its stake in Neogen Co. (NASDAQ:NEOG - Free Report) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,503,588 shares of the company's stock after selling 202,636 shares during the quarter. Conestoga Capital Advisors LLC owned about 3.92% of Neogen worth $103,234,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its holdings in Neogen by 142.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company's stock worth $33,000 after purchasing an additional 1,165 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Neogen by 196.7% during the fourth quarter. Blue Trust Inc. now owns 3,368 shares of the company's stock worth $41,000 after buying an additional 2,233 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of Neogen in the third quarter valued at about $66,000. KBC Group NV grew its stake in shares of Neogen by 39.1% in the fourth quarter. KBC Group NV now owns 8,464 shares of the company's stock valued at $103,000 after acquiring an additional 2,379 shares in the last quarter. Finally, Marco Investment Management LLC acquired a new stake in Neogen in the 3rd quarter worth about $169,000. 96.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Neogen

In related news, CFO David H. Naemura purchased 14,800 shares of the stock in a transaction dated Thursday, January 16th. The stock was bought at an average cost of $11.11 per share, for a total transaction of $164,428.00. Following the completion of the acquisition, the chief financial officer now owns 61,434 shares of the company's stock, valued at approximately $682,531.74. This represents a 31.74 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John Edward Adent purchased 23,035 shares of the company's stock in a transaction dated Thursday, January 16th. The stock was purchased at an average price of $11.03 per share, with a total value of $254,076.05. Following the completion of the purchase, the chief executive officer now directly owns 269,164 shares in the company, valued at $2,968,878.92. The trade was a 9.36 % increase in their position. The disclosure for this purchase can be found here. 1.13% of the stock is owned by insiders.

Neogen Price Performance

NEOG stock traded down $0.10 during mid-day trading on Thursday, hitting $10.67. The stock had a trading volume of 2,086,379 shares, compared to its average volume of 2,927,624. The firm has a fifty day simple moving average of $12.16 and a 200 day simple moving average of $14.50. The firm has a market capitalization of $2.31 billion, a P/E ratio of -4.87 and a beta of 1.23. The company has a current ratio of 3.77, a quick ratio of 2.46 and a debt-to-equity ratio of 0.33. Neogen Co. has a 52 week low of $10.54 and a 52 week high of $18.58.

Neogen (NASDAQ:NEOG - Get Free Report) last announced its quarterly earnings data on Friday, January 10th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.01) by $0.12. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The business had revenue of $231.30 million for the quarter, compared to analysts' expectations of $227.16 million. During the same period last year, the firm posted $0.11 earnings per share. The firm's quarterly revenue was up .7% compared to the same quarter last year. As a group, research analysts forecast that Neogen Co. will post 0.38 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Piper Sandler restated a "neutral" rating and set a $13.00 target price (down previously from $16.50) on shares of Neogen in a research report on Tuesday, January 21st. Guggenheim started coverage on Neogen in a report on Thursday, December 19th. They issued a "buy" rating and a $15.00 price objective for the company.

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.