Neogen Co. (NASDAQ:NEOG) Stake Decreased by First Trust Advisors LP

First Trust Advisors LP decreased its holdings in Neogen Co. (NASDAQ:NEOG - Free Report) by 87.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 10,636 shares of the company's stock after selling 72,605 shares during the period. First Trust Advisors LP's holdings in Neogen were worth $129,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NEOG. Norges Bank purchased a new position in Neogen in the fourth quarter valued at about $212,171,000. Clarkston Capital Partners LLC acquired a new position in shares of Neogen in the fourth quarter worth about $34,801,000. Vanguard Group Inc. grew its stake in Neogen by 9.8% during the 4th quarter. Vanguard Group Inc. now owns 21,637,251 shares of the company's stock valued at $262,676,000 after purchasing an additional 1,928,491 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in 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 last quarter. Finally, William Blair Investment Management LLC increased its holdings in Neogen by 8.1% during the 4th quarter. William Blair Investment Management LLC now owns 14,346,759 shares of the company's stock worth $174,170,000 after purchasing an additional 1,074,825 shares during the last quarter. 96.73% of the stock is owned by institutional investors and hedge funds.

Neogen Stock Down 1.7%

Neogen stock traded down $0.11 during midday trading on Wednesday, hitting $6.38. The stock had a trading volume of 9,501,274 shares, compared to its average volume of 2,990,293. The business has a fifty day moving average price of $6.97 and a 200 day moving average price of $10.52. Neogen Co. has a 12 month low of $3.87 and a 12 month high of $18.58. The stock has a market cap of $1.38 billion, a P/E ratio of -2.91 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 issued its earnings results on Wednesday, April 9th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.02). The firm had revenue of $221.00 million during the quarter, compared to analyst estimates of $225.27 million. Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. Neogen's revenue was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.12 EPS. Research analysts predict that Neogen Co. will post 0.38 EPS for the current year.

Insiders Place Their Bets

In related news, Director James C. Borel acquired 35,000 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was purchased at an average cost of $4.89 per share, for a total transaction of $171,150.00. Following the purchase, the director now directly owns 60,474 shares in the company, valued at $295,717.86. This represents a 137.39% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO John Patrick Moylan bought 10,000 shares of the business's stock in a transaction on Thursday, April 10th. The stock was bought at an average price of $5.07 per share, for a total transaction of $50,700.00. Following the completion of the purchase, the chief accounting officer now directly owns 10,000 shares of the company's stock, valued at $50,700. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 83,500 shares of company stock valued at $431,525. Company insiders own 1.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Piper Sandler decreased their price target on shares of Neogen from $6.40 to $5.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Guggenheim decreased their price objective on shares of Neogen from $15.00 to $13.00 and set a "buy" rating for the company in a report on Thursday, April 10th.

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.