Neogen Co. (NASDAQ:NEOG) Shares Sold by Northern Trust Corp

Northern Trust Corp trimmed its position in Neogen Co. (NASDAQ:NEOG) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,585,346 shares of the company’s stock after selling 48,658 shares during the quarter. Northern Trust Corp owned about 1.65% of Neogen worth $43,526,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in Neogen in the fourth quarter worth approximately $2,744,000. Dimensional Fund Advisors LP grew its holdings in shares of Neogen by 24.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,939,984 shares of the company’s stock worth $84,254,000 after purchasing an additional 1,345,056 shares during the period. Norges Bank purchased a new position in shares of Neogen during the 4th quarter worth $212,171,000. Vanguard Group Inc. increased its position in shares of Neogen by 9.8% during the 4th quarter. Vanguard Group Inc. now owns 21,637,251 shares of the company’s stock worth $262,676,000 after purchasing an additional 1,928,491 shares during the last quarter. Finally, Private Advisor Group LLC raised its holdings in Neogen by 135.3% in the 4th quarter. Private Advisor Group LLC now owns 67,298 shares of the company’s stock valued at $817,000 after buying an additional 38,703 shares during the period. Institutional investors and hedge funds own 96.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Guggenheim lowered their target price on shares of Neogen from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Piper Sandler dropped their target price on shares of Neogen from $6.40 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, April 22nd.

Neogen Stock Performance

Shares of Neogen stock opened at $5.99 on Friday. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -2.73 and a beta of 1.83. 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 business has a 50-day moving average of $7.17 and a 200 day moving average of $10.69. Neogen Co. has a 12 month low of $3.87 and a 12 month high of $18.58.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings data on Wednesday, April 9th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.02). The business had revenue of $221.00 million during the quarter, compared to analysts’ expectations of $225.27 million. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The company’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.12 EPS. As a group, sell-side analysts forecast that Neogen Co. will post 0.38 earnings per share for the current year.

Insider Buying and Selling

In other news, Director James C. Borel purchased 35,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 24th. The stock was bought at an average price of $4.89 per share, for a total transaction of $171,150.00. Following the completion of the purchase, the director now directly owns 60,474 shares of the company’s stock, valued at $295,717.86. The trade was a 137.39 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO John Patrick Moylan acquired 10,000 shares of the company’s stock in a transaction on Thursday, April 10th. The stock was purchased at an average cost of $5.07 per share, for a total transaction of $50,700.00. Following the completion of the transaction, the chief accounting officer now owns 10,000 shares in the company, valued at approximately $50,700. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders purchased 67,500 shares of company stock valued at $331,525 in the last three months. 1.13% of the stock is owned by corporate insiders.

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.