Grandeur Peak Global Advisors LLC Sells 235,130 Shares of Neogen Co. (NASDAQ:NEOG)

Grandeur Peak Global Advisors LLC reduced its position in Neogen Co. (NASDAQ:NEOG - Free Report) by 51.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 226,259 shares of the company's stock after selling 235,130 shares during the period. Grandeur Peak Global Advisors LLC owned 0.10% of Neogen worth $2,747,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Neogen during the 4th quarter worth about $212,171,000. Vanguard Group Inc. raised its stake in shares of Neogen by 9.8% during the fourth quarter. Vanguard Group Inc. now owns 21,637,251 shares of the company's stock worth $262,676,000 after buying an additional 1,928,491 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of Neogen by 135.3% during the fourth quarter. Private Advisor Group LLC now owns 67,298 shares of the company's stock worth $817,000 after buying an additional 38,703 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Neogen by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,061,927 shares of the company's stock worth $25,032,000 after acquiring an additional 52,663 shares during the period. Finally, Pictet Asset Management Holding SA raised its position in shares of Neogen by 26.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,369,595 shares of the company's stock valued at $28,767,000 after acquiring an additional 501,957 shares during the last quarter. Institutional investors own 96.73% of the company's stock.

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Insider Transactions at Neogen

In other Neogen news, CAO John Patrick Moylan purchased 10,000 shares of the business's stock in a transaction on Thursday, April 10th. The stock was acquired at an average price of $5.07 per share, with a total value of $50,700.00. Following the acquisition, the chief accounting officer now directly owns 10,000 shares of the company's stock, valued at $50,700. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO David H. Naemura acquired 14,800 shares of the company's 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 transaction, the chief financial officer now directly owns 61,434 shares of the company's stock, valued at approximately $682,531.74. This trade represents a 31.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 47,835 shares of company stock worth $469,204 in the last ninety days. Insiders own 1.13% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Guggenheim cut their target price on Neogen from $15.00 to $13.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Piper Sandler cut their target price on shares of Neogen from $13.00 to $6.50 and set a "neutral" rating on the stock in a report on Monday.

Neogen Stock Down 8.3 %

Shares of NASDAQ:NEOG traded down $0.45 during midday trading on Tuesday, reaching $4.95. The company had a trading volume of 7,483,013 shares, compared to its average volume of 2,577,703. The company has a quick ratio of 2.46, a current ratio of 3.77 and a debt-to-equity ratio of 0.33. The business's 50 day moving average price is $8.86 and its 200 day moving average price is $11.81. The stock has a market cap of $1.07 billion, a PE ratio of -2.26 and a beta of 1.57. Neogen Co. has a 1-year low of $3.87 and a 1-year high of $18.58.

Neogen (NASDAQ:NEOG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 9th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.12 by ($0.02). The company had revenue of $221.00 million for the quarter, compared to the consensus estimate of $225.27 million. Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. The company's revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.12 EPS. Research analysts forecast that Neogen Co. will post 0.38 EPS 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.