Grandeur Peak Global Advisors LLC Reduces Holdings in Neogen Co. (NASDAQ:NEOG)

Grandeur Peak Global Advisors LLC cut its holdings in Neogen Co. (NASDAQ:NEOG - Free Report) by 51.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 226,259 shares of the company's stock after selling 235,130 shares during the period. Grandeur Peak Global Advisors LLC owned about 0.10% of Neogen worth $2,747,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in NEOG. Harbour Investments Inc. acquired a new stake in shares of Neogen in the fourth quarter valued at approximately $27,000. Blue Trust Inc. raised its holdings 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 during the last quarter. Covestor Ltd boosted its stake in shares of Neogen by 41.4% during the fourth quarter. Covestor Ltd now owns 4,103 shares of the company's stock valued at $50,000 after acquiring an additional 1,202 shares during the last quarter. Neo Ivy Capital Management acquired a new position in Neogen in the 3rd quarter valued at about $66,000. Finally, KBC Group NV boosted 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 worth $103,000 after purchasing an additional 2,379 shares during the last quarter. 96.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on NEOG shares. Piper Sandler decreased their target price on shares of Neogen from $13.00 to $6.50 and set a "neutral" rating on the stock in a research report on Monday. Guggenheim dropped their target price on Neogen from $15.00 to $13.00 and set a "buy" rating for the company in a research note on Thursday, April 10th.

Neogen Trading Down 3.8 %

Shares of NEOG traded down $0.18 during mid-day trading on Thursday, reaching $4.43. The company had a trading volume of 6,838,679 shares, compared to its average volume of 2,618,925. The stock has a market cap of $959.98 million, a price-to-earnings ratio of -2.01 and a beta of 1.57. The company has a current ratio of 3.77, a quick ratio of 2.46 and a debt-to-equity ratio of 0.33. The firm has a fifty day simple moving average of $8.74 and a 200-day simple moving average of $11.76. Neogen Co. has a fifty-two week low of $3.87 and a fifty-two week high of $18.58.

Neogen (NASDAQ:NEOG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 9th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.12 by ($0.02). The firm had revenue of $221.00 million for 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%. Neogen's revenue was down 3.4% on a year-over-year basis. During the same period last year, the firm posted $0.12 EPS. On average, sell-side analysts anticipate that Neogen Co. will post 0.38 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO John Patrick Moylan purchased 10,000 shares of the stock in a transaction that occurred 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 acquisition, the chief accounting officer now owns 10,000 shares in the company, valued at approximately $50,700. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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.