Neogen Co. (NASDAQ:NEOG) Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC lowered its position in Neogen Co. (NASDAQ:NEOG - Free Report) by 11.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,816,232 shares of the company's stock after selling 239,943 shares during the period. Neogen comprises about 1.0% of Granite Investment Partners LLC's investment portfolio, making the stock its 25th biggest holding. Granite Investment Partners LLC owned 0.84% of Neogen worth $22,049,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NEOG. Vanguard Group Inc. grew its position in shares of Neogen by 9.8% during the 4th quarter. Vanguard Group Inc. now owns 21,637,251 shares of the company's stock valued at $262,676,000 after acquiring an additional 1,928,491 shares during the period. Norges Bank purchased a new stake in Neogen in the fourth quarter worth about $212,171,000. William Blair Investment Management LLC raised its stake in shares of Neogen by 8.1% in the fourth quarter. William Blair Investment Management LLC now owns 14,346,759 shares of the company's stock worth $174,170,000 after buying an additional 1,074,825 shares during the period. State Street Corp lifted its position in shares of Neogen by 3.1% during the 3rd quarter. State Street Corp now owns 7,932,192 shares of the company's stock valued at $133,340,000 after buying an additional 236,762 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Neogen by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 5,148,388 shares of the company's stock worth $86,559,000 after acquiring an additional 20,387 shares during the period. Hedge funds and other institutional investors own 96.73% of the company's stock.

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Wall Street Analysts Forecast Growth

NEOG has been the topic of a number of research analyst reports. Piper Sandler lowered their price target on Neogen from $13.00 to $6.50 and set a "neutral" rating on the stock in a report on Monday. Guggenheim lowered their target price on shares of Neogen from $15.00 to $13.00 and set a "buy" rating on the stock in a report on Thursday, April 10th.

Insider Buying and Selling

In other Neogen news, CAO John Patrick Moylan acquired 10,000 shares of Neogen stock in a transaction that occurred on Thursday, April 10th. The stock was bought at an average price of $5.07 per share, with a total value of $50,700.00. Following the completion of the purchase, the chief accounting officer now directly owns 10,000 shares of the company's stock, valued at approximately $50,700. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David H. Naemura purchased 14,800 shares of Neogen stock in a transaction dated Thursday, January 16th. The stock was bought at an average cost of $11.11 per share, with a total value of $164,428.00. Following the completion of the transaction, the chief financial officer now owns 61,434 shares in the company, valued at approximately $682,531.74. This represents a 31.74 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 47,835 shares of company stock valued at $469,204. Insiders own 1.13% of the company's stock.

Neogen Price Performance

Shares of NEOG stock traded down $0.45 during trading hours on Tuesday, hitting $4.95. The stock had a trading volume of 7,483,013 shares, compared to its average volume of 2,577,718. The stock's 50-day moving average price is $8.86 and its two-hundred day moving average price is $11.81. Neogen Co. has a one year low of $3.87 and a one year high of $18.58. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -2.26 and a beta of 1.57. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.77 and a quick ratio of 2.46.

Neogen (NASDAQ:NEOG - Get Free Report) last released 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). Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. The firm had revenue of $221.00 million during the quarter, compared to the consensus estimate of $225.27 million. During the same period in the previous year, the firm earned $0.12 EPS. The business's revenue was down 3.4% compared to the same quarter last year. Equities analysts forecast that Neogen Co. will post 0.38 EPS for the current year.

About Neogen

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.