William Blair Investment Management LLC Increases Stock Position in Neogen Co. (NASDAQ:NEOG)

William Blair Investment Management LLC increased its stake in shares of Neogen Co. (NASDAQ:NEOG - Free Report) by 8.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,346,759 shares of the company's stock after acquiring an additional 1,074,825 shares during the quarter. William Blair Investment Management LLC owned approximately 6.61% of Neogen worth $174,170,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Atria Investments Inc lifted its position in shares of Neogen by 29.6% during the 3rd quarter. Atria Investments Inc now owns 32,417 shares of the company's stock worth $545,000 after buying an additional 7,408 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in Neogen by 25.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 130,089 shares of the company's stock worth $2,187,000 after buying an additional 26,478 shares in the last quarter. Natixis Advisors LLC raised its stake in Neogen by 35.1% in the third quarter. Natixis Advisors LLC now owns 96,374 shares of the company's stock valued at $1,620,000 after purchasing an additional 25,061 shares in the last quarter. Mutual of America Capital Management LLC raised its position in shares of Neogen by 44.5% during the 3rd quarter. Mutual of America Capital Management LLC now owns 388,954 shares of the company's stock valued at $6,538,000 after buying an additional 119,865 shares in the last quarter. Finally, Lindenwold Advisors INC boosted its holdings in shares of Neogen by 19.1% in the 3rd quarter. Lindenwold Advisors INC now owns 12,821 shares of the company's stock worth $216,000 after purchasing an additional 2,055 shares in the last quarter. 96.73% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

NEOG has been the topic of several analyst reports. 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. Piper Sandler reissued a "neutral" rating and issued a $13.00 price target (down from $16.50) on shares of Neogen in a research note on Tuesday, January 21st.

Neogen Price Performance

NASDAQ:NEOG traded down $0.12 during trading hours on Friday, hitting $8.85. 36,396,580 shares of the stock traded hands, compared to its average volume of 2,154,572. Neogen Co. has a 1 year low of $8.61 and a 1 year high of $18.58. The company has a quick ratio of 2.46, a current ratio of 3.77 and a debt-to-equity ratio of 0.33. The company has a market cap of $1.92 billion, a price-to-earnings ratio of -4.04 and a beta of 1.27. The stock has a 50 day moving average price of $10.53 and a 200 day moving average price of $13.06.

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

Insider Buying and Selling at Neogen

In other news, CFO David H. Naemura acquired 14,800 shares of the business's stock in a transaction dated Thursday, January 16th. The shares were acquired 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 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 this link. Also, CEO John Edward Adent bought 23,035 shares of the firm's stock in a transaction that occurred on Thursday, January 16th. The shares were acquired at an average price of $11.03 per share, with a total value 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 $2,968,878.92. This trade represents a 9.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.13% of the company's stock.

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.