Silvercrest Asset Management Group LLC Acquires 52,124 Shares of Neogen Co. (NASDAQ:NEOG)

Silvercrest Asset Management Group LLC raised its stake in Neogen Co. (NASDAQ:NEOG - Free Report) by 4.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,371,528 shares of the company's stock after purchasing an additional 52,124 shares during the period. Silvercrest Asset Management Group LLC owned 0.63% of Neogen worth $16,650,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in Neogen during the 4th quarter valued at approximately $2,744,000. Dimensional Fund Advisors LP raised its holdings in shares of Neogen by 24.0% in 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 in the last quarter. Norges Bank bought a new stake in shares of Neogen during the 4th quarter worth $212,171,000. Vanguard Group Inc. lifted its stake in Neogen by 9.8% during the fourth quarter. Vanguard Group Inc. now owns 21,637,251 shares of the company's stock valued at $262,676,000 after buying an additional 1,928,491 shares in the last quarter. Finally, Private Advisor Group LLC boosted its stake in Neogen by 135.3% in the 4th quarter. Private Advisor Group LLC now owns 67,298 shares of the company's stock worth $817,000 after purchasing an additional 38,703 shares during the period. Institutional investors own 96.73% of the company's stock.

Analysts Set New Price Targets

NEOG has been the subject of a number of research reports. Guggenheim decreased their price objective on Neogen from $15.00 to $13.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Piper Sandler lowered their target price 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 Transactions at Neogen

In other news, Director Aashima Gupta acquired 16,000 shares of the firm's stock in a transaction on Monday, May 12th. The shares were purchased at an average cost of $6.25 per share, with a total value of $100,000.00. Following the completion of the purchase, the director now owns 21,917 shares of the company's stock, valued at $136,981.25. This represents a 270.41% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Amy M. Rocklin acquired 12,500 shares of the company's stock in a transaction dated Wednesday, April 23rd. The shares were purchased at an average cost of $4.99 per share, with a total value of $62,375.00. Following the acquisition, the insider now owns 36,287 shares of the company's stock, valued at approximately $181,072.13. This represents a 52.55% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 83,500 shares of company stock valued at $431,525. Company insiders own 1.13% of the company's stock.

Neogen Stock Performance

NEOG stock traded down $0.11 during trading on Thursday, reaching $6.12. 849,758 shares of the stock were exchanged, compared to its average volume of 3,027,763. 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 -2.79 and a beta of 1.83. The stock has a 50 day simple moving average of $6.57 and a 200-day simple moving average of $10.21. 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 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%. The firm's revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period last year, the business earned $0.12 earnings per share. As a group, sell-side analysts anticipate that Neogen Co. will post 0.38 earnings per share for the current 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.