AMI Asset Management Corp Has $1.14 Million Stock Holdings in Neogen Co. (NASDAQ:NEOG)

AMI Asset Management Corp trimmed its stake in Neogen Co. (NASDAQ:NEOG - Free Report) by 42.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,599 shares of the company's stock after selling 50,242 shares during the period. AMI Asset Management Corp's holdings in Neogen were worth $1,136,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. William Blair Investment Management LLC raised its stake in shares of Neogen by 64.7% during the second quarter. William Blair Investment Management LLC now owns 12,013,072 shares of the company's stock worth $187,764,000 after purchasing an additional 4,717,696 shares during the last quarter. Baillie Gifford & Co. boosted its position in shares of Neogen by 42.3% during the 1st quarter. Baillie Gifford & Co. now owns 11,789,521 shares of the company's stock worth $186,039,000 after purchasing an additional 3,502,807 shares in the last quarter. Select Equity Group L.P. lifted its stake in shares of Neogen by 23.1% in the second 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. Dimensional Fund Advisors LP grew its position 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 during the period. Finally, Shapiro Capital Management LLC purchased a new stake in shares of Neogen during the 2nd quarter worth approximately $31,087,000. 96.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on NEOG. Piper Sandler lifted their price target on Neogen from $17.00 to $17.50 and gave the stock a "neutral" rating in a research note on Tuesday, August 6th. StockNews.com upgraded Neogen to a "sell" rating in a research report on Monday, September 30th.

Neogen Trading Up 2.0 %

Shares of Neogen stock traded up $0.28 during trading hours on Wednesday, hitting $14.62. The company's stock had a trading volume of 528,079 shares, compared to its average volume of 1,923,374. Neogen Co. has a 1-year low of $11.46 and a 1-year high of $20.89. The business has a fifty day moving average of $15.67 and a 200 day moving average of $15.20. The company has a quick ratio of 2.79, a current ratio of 4.41 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $3.17 billion, a PE ratio of -130.36 and a beta of 1.21.

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

Insider Activity

In related news, Director James P. Tobin purchased 3,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were acquired at an average cost of $16.86 per share, for a total transaction of $50,580.00. Following the acquisition, the director now directly owns 23,392 shares in the company, valued at approximately $394,389.12. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director James P. Tobin bought 3,000 shares of the company's stock in a transaction that occurred on Tuesday, August 6th. The shares were purchased at an average price of $16.86 per share, for a total transaction of $50,580.00. Following the acquisition, the director now directly owns 23,392 shares of the company's stock, valued at $394,389.12. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO John Edward Adent acquired 14,500 shares of Neogen stock in a transaction dated Friday, October 11th. The stock was acquired at an average cost of $13.80 per share, with a total value of $200,100.00. Following the completion of the transaction, the chief executive officer now directly owns 216,477 shares of the company's stock, valued at $2,987,382.60. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.13% of the company's stock.

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.