Oppenheimer Asset Management Inc. Sells 29,676 Shares of Neogen Co. (NASDAQ:NEOG)

Oppenheimer Asset Management Inc. trimmed its holdings in Neogen Co. (NASDAQ:NEOG - Free Report) by 22.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 100,413 shares of the company's stock after selling 29,676 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Neogen were worth $1,219,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of Neogen by 142.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company's stock valued at $33,000 after purchasing an additional 1,165 shares in the last quarter. International Assets Investment Management LLC increased its stake in Neogen by 1,581.0% in the 3rd quarter. International Assets Investment Management LLC now owns 11,666 shares of the company's stock valued at $196,000 after buying an additional 10,972 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Neogen by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 22,810 shares of the company's stock worth $383,000 after buying an additional 1,550 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Neogen by 12.4% during the third quarter. Nisa Investment Advisors LLC now owns 28,258 shares of the company's stock worth $475,000 after acquiring an additional 3,123 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its position in Neogen by 2.5% during the third quarter. New York State Teachers Retirement System now owns 140,005 shares of the company's stock valued at $2,353,000 after purchasing an additional 3,430 shares during the last quarter. Institutional investors and hedge funds own 96.73% of the company's stock.

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Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Guggenheim began coverage on Neogen in a report on Thursday, December 19th. They issued a "buy" rating and a $15.00 price objective for the company. Piper Sandler restated a "neutral" rating and set a $13.00 price objective (down from $16.50) on shares of Neogen in a research note on Tuesday, January 21st.

Neogen Stock Performance

Shares of NEOG stock traded up $0.42 during trading on Friday, reaching $10.40. 2,234,378 shares of the company's stock were exchanged, compared to its average volume of 1,965,538. The firm's fifty day moving average price is $11.13 and its 200-day moving average price is $13.57. Neogen Co. has a twelve month low of $9.01 and a twelve month high of $18.58. The stock has a market capitalization of $2.26 billion, a PE ratio of -4.75 and a beta of 1.27. The company has a quick ratio of 2.46, a current ratio of 3.77 and a debt-to-equity ratio of 0.33.

Neogen (NASDAQ:NEOG - Get Free Report) last released its quarterly earnings data on Friday, January 10th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.12. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The firm had revenue of $231.30 million for the quarter, compared to the consensus estimate of $227.16 million. During the same period in the previous year, the company earned $0.11 earnings per share. The company's quarterly revenue was up .7% on a year-over-year basis. As a group, sell-side analysts anticipate that Neogen Co. will post 0.38 EPS for the current year.

Insider Transactions at Neogen

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