Janus Henderson Group PLC Has $40.11 Million Stake in Neogen Co. (NASDAQ:NEOG)

Janus Henderson Group PLC decreased its holdings in shares of Neogen Co. (NASDAQ:NEOG - Free Report) by 9.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,303,645 shares of the company's stock after selling 329,362 shares during the quarter. Janus Henderson Group PLC owned approximately 1.52% of Neogen worth $40,107,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Harbour Investments Inc. bought a new stake in shares of Neogen during the 4th quarter worth about $27,000. Blue Trust Inc. lifted its position in Neogen by 196.7% during 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. Johnson Financial Group Inc. bought a new stake in shares of Neogen during the fourth quarter worth approximately $43,000. Covestor Ltd grew its position in shares of Neogen by 41.4% in the fourth quarter. Covestor Ltd now owns 4,103 shares of the company's stock valued at $50,000 after purchasing an additional 1,202 shares during the last quarter. Finally, KBC Group NV increased its stake in shares of Neogen by 39.1% during the fourth 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 period. Institutional investors own 96.73% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Activity

In other Neogen news, insider Amy M. Rocklin bought 12,500 shares of the stock in a transaction on Wednesday, April 23rd. The stock was purchased at an average price of $4.99 per share, with a total value of $62,375.00. Following the completion of the purchase, the insider now owns 36,287 shares in the company, valued at $181,072.13. The trade was a 52.55% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James P. Tobin bought 10,000 shares of the company's stock in a transaction dated Tuesday, April 22nd. The stock was bought at an average cost of $4.73 per share, with a total value of $47,300.00. Following the acquisition, the director now directly owns 37,474 shares of the company's stock, valued at approximately $177,252.02. The trade was a 36.40% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 83,500 shares of company stock worth $431,525. 1.13% of the stock is currently owned by corporate insiders.

Neogen Price Performance

Shares of NEOG stock traded up $0.07 during trading on Tuesday, hitting $6.47. The company had a trading volume of 518,257 shares, compared to its average volume of 3,010,949. The stock's 50-day moving average price is $6.69 and its 200 day moving average price is $10.27. Neogen Co. has a one year low of $3.87 and a one year high of $18.58. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.46 and a current ratio of 3.77. The firm has a market capitalization of $1.40 billion, a P/E ratio of -2.96 and a beta of 1.83.

Neogen (NASDAQ:NEOG - Get Free Report) last released its earnings results 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). Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. The company had revenue of $221.00 million for the quarter, compared to analyst estimates of $225.27 million. During the same period last year, the company posted $0.12 earnings per share. The business's revenue for the quarter was down 3.4% compared to the same quarter last year. Equities analysts expect that Neogen Co. will post 0.38 EPS for the current fiscal year.

About Neogen

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.