Van ECK Associates Corp Sells 91,015 Shares of Neogen Co. (NASDAQ:NEOG)

Van ECK Associates Corp lowered its holdings in shares of Neogen Co. (NASDAQ:NEOG - Free Report) by 22.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 315,508 shares of the company's stock after selling 91,015 shares during the period. Van ECK Associates Corp owned about 0.15% of Neogen worth $5,304,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in NEOG. BNP Paribas Financial Markets boosted its holdings in shares of Neogen by 73.4% during the first quarter. BNP Paribas Financial Markets now owns 115,830 shares of the company's stock worth $1,828,000 after purchasing an additional 49,041 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of Neogen by 3.1% during the first quarter. Janney Montgomery Scott LLC now owns 84,724 shares of the company's stock valued at $1,337,000 after acquiring an additional 2,583 shares in the last quarter. Texas Permanent School Fund Corp lifted its stake in Neogen by 1.5% in the first quarter. Texas Permanent School Fund Corp now owns 172,441 shares of the company's stock worth $2,721,000 after acquiring an additional 2,475 shares during the period. SG Americas Securities LLC increased its position in Neogen by 277.1% during the 1st quarter. SG Americas Securities LLC now owns 45,558 shares of the company's stock valued at $719,000 after purchasing an additional 33,478 shares during the period. Finally, Swiss National Bank raised its holdings in Neogen by 0.3% in the 1st quarter. Swiss National Bank now owns 406,137 shares of the company's stock worth $6,409,000 after purchasing an additional 1,100 shares in the last quarter. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

Neogen Stock Up 2.9 %

Shares of Neogen stock traded up $0.45 during trading on Friday, hitting $16.23. The company's stock had a trading volume of 2,148,141 shares, compared to its average volume of 1,433,868. Neogen Co. has a 52 week low of $11.46 and a 52 week high of $20.89. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.79 and a current ratio of 4.41. The company has a fifty day simple moving average of $15.38 and a two-hundred day simple moving average of $15.34. The company has a market capitalization of $3.52 billion, a PE ratio of -147.55 and a beta of 1.23.

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

Insiders Place Their Bets

In other news, CEO John Edward Adent acquired 14,500 shares of the business's stock in a transaction that occurred on Friday, October 11th. The shares were bought at an average cost of $13.80 per share, with a total value of $200,100.00. Following the transaction, the chief executive officer now 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.13% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on NEOG. StockNews.com upgraded shares of Neogen to a "sell" rating in a research report on Monday, September 30th. Piper Sandler upped 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.

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.