Neogen Co. (NASDAQ:NEOG) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC decreased its holdings in Neogen Co. (NASDAQ:NEOG - Free Report) by 47.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 SEC.

Other institutional investors have also modified their holdings of the company. Harbour Investments Inc. acquired a new position in shares of Neogen in the fourth quarter worth about $27,000. Blue Trust Inc. lifted its stake in shares of Neogen by 196.7% in the fourth quarter. Blue Trust Inc. now owns 3,368 shares of the company's stock worth $41,000 after acquiring an additional 2,233 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in shares of Neogen in the fourth quarter worth about $43,000. Covestor Ltd lifted its stake in shares of Neogen by 41.4% in the fourth quarter. Covestor Ltd now owns 4,103 shares of the company's stock worth $50,000 after acquiring an additional 1,202 shares in the last quarter. Finally, KBC Group NV lifted its stake in shares of Neogen by 39.1% in the fourth quarter. KBC Group NV now owns 8,464 shares of the company's stock worth $103,000 after acquiring an additional 2,379 shares in the last quarter. Institutional investors and hedge funds own 96.73% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Piper Sandler cut their price objective on Neogen from $6.40 to $5.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Guggenheim cut their price objective on Neogen from $15.00 to $13.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th.

Neogen Stock Up 1.5%

NASDAQ NEOG traded up $0.09 on Tuesday, hitting $6.15. 3,438,591 shares of the stock traded hands, compared to its average volume of 3,058,718. The stock has a 50-day moving average of $6.33 and a 200 day moving average of $9.92. Neogen Co. has a twelve month low of $3.87 and a twelve month high of $18.58. The company has a market capitalization of $1.33 billion, a P/E ratio of -2.81 and a beta of 1.83. 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 announced its quarterly earnings data on Wednesday, April 9th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.02). The firm had revenue of $221.00 million for the quarter, compared to analyst estimates 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 quarterly revenue was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.12 EPS. As a group, analysts expect that Neogen Co. will post 0.38 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Aashima Gupta bought 16,000 shares of the stock in a transaction dated Monday, May 12th. The stock was bought at an average cost of $6.25 per share, with a total value of $100,000.00. Following the completion of the acquisition, the director now owns 21,917 shares of the company's stock, valued at $136,981.25. This trade represents a 270.41% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO John Patrick Moylan bought 10,000 shares of the stock in a transaction dated Thursday, April 10th. The shares were bought at an average cost of $5.07 per share, with a total value of $50,700.00. Following the completion of the acquisition, the chief accounting officer now directly owns 10,000 shares of the company's stock, valued at approximately $50,700. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 83,500 shares of company stock valued at $431,525. 1.13% of the stock is currently owned by 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.