AMI Asset Management Corp Sells 50,242 Shares of Neogen Co. (NASDAQ:NEOG)

AMI Asset Management Corp lowered its stake in shares of Neogen Co. (NASDAQ:NEOG - Free Report) by 42.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,599 shares of the company's stock after selling 50,242 shares during the quarter. AMI Asset Management Corp's holdings in Neogen were worth $1,136,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. William Blair Investment Management LLC raised its holdings in Neogen by 64.7% in the 2nd 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. Baillie Gifford & Co. raised its stake in shares of Neogen by 42.3% in the first quarter. Baillie Gifford & Co. now owns 11,789,521 shares of the company's stock valued at $186,039,000 after purchasing an additional 3,502,807 shares in the last quarter. Select Equity Group L.P. lifted its position in Neogen by 23.1% in the second quarter. Select Equity Group L.P. now owns 15,530,439 shares of the company's stock worth $242,741,000 after purchasing an additional 2,914,893 shares during the period. Dimensional Fund Advisors LP boosted its stake in 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. Finally, Shapiro Capital Management LLC bought a new stake in Neogen in the 2nd quarter valued at $31,087,000. Institutional investors own 96.73% of the company's stock.

Neogen Price Performance

Shares of NEOG traded up $0.23 during trading hours on Wednesday, hitting $14.57. The stock had a trading volume of 1,092,906 shares, compared to its average volume of 1,926,063. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of -132.45 and a beta of 1.21. 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's fifty day moving average is $15.63 and its two-hundred day moving average is $15.19. Neogen Co. has a 52 week low of $11.46 and a 52 week high of $20.89.

Neogen (NASDAQ:NEOG - Get Free Report) last announced its earnings results on Thursday, October 10th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.03). Neogen had a positive return on equity of 2.80% and a negative net margin of 2.58%. The business had revenue of $217.00 million during the quarter, compared to analyst estimates of $215.05 million. During the same period in the previous year, the firm earned $0.11 earnings per share. The firm's revenue was down 5.2% compared to the same quarter last year. On average, analysts anticipate that Neogen Co. will post 0.52 EPS for the current year.

Insider Transactions at Neogen

In other Neogen news, Director James P. Tobin purchased 3,000 shares of the business's stock in a transaction that occurred on Tuesday, August 6th. The stock was acquired at an average cost of $16.86 per share, with a total value of $50,580.00. Following the completion of the acquisition, the director now directly owns 23,392 shares of the company's stock, valued at $394,389.12. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director James P. Tobin purchased 3,000 shares of the firm's stock in a transaction dated Tuesday, August 6th. The shares were acquired at an average cost of $16.86 per share, with a total value of $50,580.00. Following the completion of the purchase, the director now directly owns 23,392 shares of the company's stock, valued at $394,389.12. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John Edward Adent acquired 14,500 shares of the company's stock in a transaction that occurred on Friday, October 11th. The stock was bought 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 in the company, valued at $2,987,382.60. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.13% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on NEOG shares. Piper Sandler raised their price objective on shares of Neogen from $17.00 to $17.50 and gave the stock a "neutral" rating in a report on Tuesday, August 6th. StockNews.com raised shares of Neogen to a "sell" rating in a research report on Monday, September 30th.

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.