Holocene Advisors LP Cuts Stock Holdings in Neogen Co. (NASDAQ:NEOG)

Holocene Advisors LP lowered its stake in Neogen Co. (NASDAQ:NEOG - Free Report) by 88.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,437 shares of the company's stock after selling 261,000 shares during the period. Holocene Advisors LP's holdings in Neogen were worth $545,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the company. Select Equity Group L.P. boosted its holdings in Neogen by 23.1% in the 2nd quarter. Select Equity Group L.P. now owns 15,530,439 shares of the company's stock valued at $242,741,000 after purchasing an additional 2,914,893 shares during the period. William Blair Investment Management LLC grew its stake in Neogen by 64.7% during 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 acquiring an additional 4,717,696 shares in the last quarter. Conestoga Capital Advisors LLC lifted its holdings in shares of Neogen by 24.5% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 8,706,224 shares of the company's stock worth $146,352,000 after acquiring an additional 1,711,238 shares during the last quarter. Bamco Inc. NY increased its position in Neogen by 1.4% during the 3rd quarter. Bamco Inc. NY now owns 7,303,115 shares of the company's stock valued at $122,765,000 after purchasing an additional 98,067 shares during the period. Finally, Champlain Investment Partners LLC raised its holdings in Neogen by 10.7% in the third quarter. Champlain Investment Partners LLC now owns 7,110,530 shares of the company's stock worth $119,528,000 after buying an additional 690,029 shares during the last quarter. 96.73% of the stock is owned by institutional investors.

Neogen Stock Up 3.6 %

Neogen stock traded up $0.45 during midday trading on Friday, hitting $12.82. The stock had a trading volume of 2,090,140 shares, compared to its average volume of 1,715,651. The company has a current ratio of 4.41, a quick ratio of 2.79 and a debt-to-equity ratio of 0.28. The business has a fifty day moving average price of $14.59 and a 200 day moving average price of $15.59. Neogen Co. has a 12 month low of $11.46 and a 12 month high of $20.89. The stock has a market cap of $2.78 billion, a P/E ratio of -116.55 and a beta of 1.21.

Neogen (NASDAQ:NEOG - Get Free Report) last released 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 firm had revenue of $217.00 million for the quarter, compared to the consensus estimate of $215.05 million. Neogen had a negative net margin of 2.58% and a positive return on equity of 2.80%. The firm's revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the company earned $0.11 earnings per share. Research analysts predict that Neogen Co. will post 0.5 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Neogen to a "sell" rating in a report on Monday, September 30th.

Insider Buying and Selling at Neogen

In other Neogen news, CEO John Edward Adent purchased 14,500 shares of the 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 transaction, the chief executive officer now directly owns 216,477 shares of the company's stock, valued at approximately $2,987,382.60. This trade represents a 7.18 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.13% of the company's stock.

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.