JPMorgan Chase & Co. Sells 329,569 Shares of Neogen Co. (NASDAQ:NEOG)

JPMorgan Chase & Co. reduced its position in Neogen Co. (NASDAQ:NEOG - Free Report) by 10.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,867,945 shares of the company's stock after selling 329,569 shares during the period. JPMorgan Chase & Co. owned 1.32% of Neogen worth $34,817,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Zions Bancorporation N.A. raised its position in shares of Neogen by 17.2% in the fourth quarter. Zions Bancorporation N.A. now owns 116,916 shares of the company's stock valued at $1,419,000 after purchasing an additional 17,119 shares during the period. Vanguard Group Inc. grew its stake in Neogen by 9.8% in the 4th quarter. Vanguard Group Inc. now owns 21,637,251 shares of the company's stock valued at $262,676,000 after buying an additional 1,928,491 shares in the last quarter. Bridge City Capital LLC lifted its position in shares of Neogen by 6.4% during the fourth quarter. Bridge City Capital LLC now owns 326,437 shares of the company's stock worth $3,963,000 after acquiring an additional 19,507 shares in the last quarter. Stevens Capital Management LP bought a new position in shares of Neogen in the fourth quarter worth $202,000. Finally, LPL Financial LLC boosted its holdings in shares of Neogen by 17.0% in the fourth quarter. LPL Financial LLC now owns 179,133 shares of the company's stock worth $2,107,000 after acquiring an additional 26,002 shares during the period. 96.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Piper Sandler reissued a "neutral" rating and set a $13.00 price objective (down previously from $16.50) on shares of Neogen in a report on Tuesday, January 21st. Guggenheim cut their price objective on shares of Neogen from $15.00 to $13.00 and set a "buy" rating for the company in a research report on Thursday.

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Insider Buying and Selling at Neogen

In related news, CEO John Edward Adent acquired 23,035 shares of the company's stock in a transaction dated Thursday, January 16th. The stock was bought at an average cost of $11.03 per share, with a total value of $254,076.05. Following the acquisition, the chief executive officer now owns 269,164 shares of the company's stock, valued at approximately $2,968,878.92. The trade was a 9.36 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David H. Naemura bought 14,800 shares of the business's stock in a transaction that occurred on Thursday, January 16th. The stock was bought at an average price of $11.11 per share, with a total value 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 $682,531.74. This represents a 31.74 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 47,835 shares of company stock worth $469,204 over the last three months. 1.13% of the stock is owned by insiders.

Neogen Price Performance

Shares of Neogen stock traded down $0.05 during trading on Friday, hitting $5.58. The stock had a trading volume of 7,941,109 shares, compared to its average volume of 2,549,685. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -2.55 and a beta of 1.57. Neogen Co. has a 12 month low of $3.87 and a 12 month high of $18.58. The business's 50-day moving average is $9.08 and its 200 day moving average is $11.97. 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 (NASDAQ:NEOG - Get Free Report) last released its quarterly earnings results on Wednesday, April 9th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.02). Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The business had revenue of $221.00 million during the quarter, compared to analysts' expectations of $225.27 million. During the same period in the previous year, the business earned $0.12 EPS. The business's revenue was down 3.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Neogen Co. will post 0.38 earnings per share for the current 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.