Lazard Asset Management LLC Sells 47,889 Shares of Neogen Co. (NASDAQ:NEOG)

Lazard Asset Management LLC trimmed its stake in Neogen Co. (NASDAQ:NEOG - Free Report) by 47.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,056 shares of the company's stock after selling 47,889 shares during the quarter. Lazard Asset Management LLC's holdings in Neogen were worth $644,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Harbour Investments Inc. purchased a new stake in shares of Neogen during the 4th quarter valued at approximately $27,000. Blue Trust Inc. lifted its stake in shares of Neogen by 196.7% during the 4th quarter. Blue Trust Inc. now owns 3,368 shares of the company's stock valued at $41,000 after buying an additional 2,233 shares in the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of Neogen during the 4th quarter valued at approximately $43,000. Covestor Ltd lifted its stake in shares of Neogen by 41.4% during the 4th quarter. Covestor Ltd now owns 4,103 shares of the company's stock valued at $50,000 after buying an additional 1,202 shares in the last quarter. Finally, KBC Group NV lifted its stake in shares of Neogen by 39.1% during the 4th 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 in the last quarter. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NEOG has been the topic of a number of recent research reports. Piper Sandler dropped their price target on shares of Neogen from $6.40 to $5.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Guggenheim decreased their target price on shares of Neogen from $15.00 to $13.00 and set a "buy" rating on the stock in a report on Thursday, April 10th.

Neogen Price Performance

Shares of NASDAQ:NEOG traded down $0.13 during trading on Friday, reaching $6.06. The company had a trading volume of 3,122,489 shares, compared to its average volume of 3,057,193. The company has a fifty day moving average of $6.45 and a two-hundred day moving average of $10.10. The stock has a market capitalization of $1.32 billion, a P/E ratio of -2.77 and a beta of 1.83. Neogen Co. has a 12 month low of $3.87 and a 12 month high of $18.58. The company has a current ratio of 3.77, a quick ratio of 2.46 and a debt-to-equity ratio of 0.33.

Neogen (NASDAQ:NEOG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 9th. The company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.12 by ($0.02). The company had revenue of $221.00 million during the quarter, compared to the consensus estimate of $225.27 million. Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. Neogen's quarterly revenue was down 3.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.12 EPS. Equities research analysts forecast that Neogen Co. will post 0.38 earnings per share for the current year.

Insider Activity at Neogen

In other Neogen news, Director Aashima Gupta bought 16,000 shares of Neogen stock in a transaction that occurred on Monday, May 12th. The shares were bought at an average price of $6.25 per share, with a total value of $100,000.00. Following the acquisition, the director now owns 21,917 shares in the company, valued at approximately $136,981.25. This trade represents a 270.41% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO John Patrick Moylan purchased 10,000 shares of the company's stock in a transaction on Thursday, April 10th. The shares were purchased at an average cost of $5.07 per share, with a total value of $50,700.00. Following the transaction, the chief accounting officer now directly owns 10,000 shares in the company, valued at $50,700. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 83,500 shares of company stock valued at $431,525. Insiders own 1.13% of the company's stock.

Neogen Company 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.