Blair William & Co. IL Cuts Stock Position in Neogen Co. (NASDAQ:NEOG)

Blair William & Co. IL reduced its holdings in shares of Neogen Co. (NASDAQ:NEOG - Free Report) by 17.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,090,014 shares of the company's stock after selling 662,921 shares during the quarter. Blair William & Co. IL owned approximately 1.42% of Neogen worth $37,513,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Harbour Investments Inc. purchased a new stake in shares of Neogen during the fourth quarter worth $27,000. Blue Trust Inc. boosted its stake in Neogen by 196.7% in the 4th quarter. Blue Trust Inc. now owns 3,368 shares of the company's stock worth $41,000 after purchasing an additional 2,233 shares during the period. Neo Ivy Capital Management purchased a new position in Neogen during the 3rd quarter valued at about $66,000. KBC Group NV increased its position in shares of Neogen by 39.1% during the fourth quarter. KBC Group NV now owns 8,464 shares of the company's stock valued at $103,000 after buying an additional 2,379 shares during the period. Finally, Raymond James Trust N.A. purchased a new stake in shares of Neogen in the third quarter worth about $182,000. 96.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NEOG has been the topic of a number of recent analyst reports. Piper Sandler reiterated a "neutral" rating and issued a $13.00 price objective (down previously from $16.50) on shares of Neogen in a research report on Tuesday, January 21st. Guggenheim began coverage on Neogen in a report on Thursday, December 19th. They issued a "buy" rating and a $15.00 price objective on the stock.

Remove Ads

Insider Buying and Selling

In related news, CFO David H. Naemura acquired 14,800 shares of the firm's stock in a transaction dated Thursday, January 16th. The stock was purchased at an average cost of $11.11 per share, with a total value of $164,428.00. Following the completion of the acquisition, the chief financial officer now directly owns 61,434 shares of the company's stock, valued at approximately $682,531.74. This trade represents a 31.74 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO John Edward Adent purchased 23,035 shares of the firm's stock in a transaction on Thursday, January 16th. The stock was acquired at an average price of $11.03 per share, for a total transaction of $254,076.05. Following the completion of the transaction, the chief executive officer now directly owns 269,164 shares of the company's stock, valued at approximately $2,968,878.92. This trade represents a 9.36 % increase in their position. The disclosure for this purchase can be found here. 1.13% of the stock is owned by insiders.

Neogen Trading Down 4.3 %

NASDAQ:NEOG traded down $0.38 during mid-day trading on Tuesday, reaching $8.30. 1,399,462 shares of the company's stock traded hands, compared to its average volume of 2,246,422. Neogen Co. has a 12-month low of $8.05 and a 12-month high of $18.58. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.77 and a quick ratio of 2.46. The company has a 50 day moving average price of $10.08 and a 200-day moving average price of $12.67. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of -3.78 and a beta of 1.27.

Neogen (NASDAQ:NEOG - Get Free Report) last announced its quarterly earnings results on Friday, January 10th. The company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of ($0.01) by $0.12. The company had revenue of $231.30 million during the quarter, compared to analyst estimates of $227.16 million. Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. The firm's revenue was up .7% on a year-over-year basis. During the same quarter last year, the firm posted $0.11 earnings per share. On average, sell-side analysts predict that Neogen Co. will post 0.38 earnings per share for the current year.

Neogen 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.