FMR LLC decreased its holdings in shares of Neogen Co. (NASDAQ:NEOG - Free Report) by 97.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,586 shares of the company's stock after selling 552,134 shares during the period. FMR LLC's holdings in Neogen were worth $245,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. William Blair Investment Management LLC grew its holdings in shares of 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 purchasing an additional 4,717,696 shares during the last quarter. Select Equity Group L.P. grew its stake in Neogen by 23.1% during the second quarter. Select Equity Group L.P. now owns 15,530,439 shares of the company's stock worth $242,741,000 after buying an additional 2,914,893 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Neogen by 148.3% during the second quarter. Dimensional Fund Advisors LP now owns 4,109,180 shares of the company's stock worth $64,229,000 after buying an additional 2,454,566 shares in the last quarter. Shapiro Capital Management LLC bought a new position in shares of Neogen in the second quarter valued at approximately $31,087,000. Finally, Fred Alger Management LLC boosted its holdings in shares of 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 acquiring an additional 1,804,550 shares in the last quarter. Institutional investors own 96.73% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on NEOG shares. StockNews.com raised Neogen to a "sell" rating in a report on Monday, September 30th. Guggenheim started coverage on Neogen in a research note on Thursday. They issued a "buy" rating and a $15.00 target price for the company.
Check Out Our Latest Analysis on NEOG
Neogen Price Performance
Shares of NEOG stock traded up $0.02 during trading hours on Friday, reaching $12.04. 4,133,540 shares of the company were exchanged, compared to its average volume of 1,925,693. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.41 and a quick ratio of 2.79. The company has a market cap of $2.61 billion, a price-to-earnings ratio of -109.45 and a beta of 1.21. The stock's fifty day moving average is $14.04 and its two-hundred day moving average is $15.51. Neogen Co. has a fifty-two week low of $11.46 and a fifty-two week high of $20.89.
Neogen (NASDAQ:NEOG - Get Free Report) last announced its quarterly earnings data on Thursday, October 10th. The company reported $0.07 EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $217.00 million during the quarter, compared to the consensus estimate of $215.05 million. During the same quarter in the previous year, the business posted $0.11 earnings per share. The firm's quarterly revenue was down 5.2% on a year-over-year basis. Sell-side analysts forecast that Neogen Co. will post 0.5 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Neogen news, CEO John Edward Adent bought 14,500 shares of the company's stock in a transaction on Friday, October 11th. The stock was bought at an average price of $13.80 per share, for a total transaction of $200,100.00. Following the transaction, the chief executive officer now owns 216,477 shares of the company's stock, valued at approximately $2,987,382.60. The trade was a 7.18 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.13% of the company's stock.
About Neogen
(
Free Report)
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.
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