Raymond James Trust N.A. Takes $182,000 Position in Neogen Co. (NASDAQ:NEOG)

Raymond James Trust N.A. acquired a new position in shares of Neogen Co. (NASDAQ:NEOG) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 10,855 shares of the company’s stock, valued at approximately $182,000.

Several other hedge funds have also modified their holdings of the stock. William Blair Investment Management LLC boosted its holdings in shares of Neogen by 64.7% in the 2nd quarter. William Blair Investment Management LLC now owns 12,013,072 shares of the company’s stock valued at $187,764,000 after purchasing an additional 4,717,696 shares during the last quarter. Select Equity Group L.P. raised its position in shares of Neogen by 23.1% in the 2nd quarter. Select Equity Group L.P. now owns 15,530,439 shares of the company’s stock worth $242,741,000 after buying an additional 2,914,893 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Neogen by 148.3% in the second quarter. Dimensional Fund Advisors LP now owns 4,109,180 shares of the company’s stock valued at $64,229,000 after acquiring an additional 2,454,566 shares during the last quarter. Shapiro Capital Management LLC purchased a new stake in Neogen during the second quarter valued at about $31,087,000. Finally, Fred Alger Management LLC increased its stake in Neogen by 542.3% during the second quarter. Fred Alger Management LLC now owns 2,137,317 shares of the company’s stock worth $33,406,000 after acquiring an additional 1,804,550 shares during the last quarter. 96.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Neogen news, CEO John Edward Adent acquired 14,500 shares of the stock in a transaction on Friday, October 11th. The stock was purchased at an average price of $13.80 per share, for a total transaction of $200,100.00. Following the purchase, the chief executive officer now directly owns 216,477 shares in the company, valued at $2,987,382.60. This trade represents a 7.18 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.13% of the stock is currently owned by insiders.

Neogen Trading Down 0.2 %

NASDAQ:NEOG opened at $14.14 on Friday. Neogen Co. has a 12 month low of $11.46 and a 12 month high of $20.89. The business’s 50-day moving average is $15.09 and its two-hundred day moving average is $15.59. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.41 and a quick ratio of 2.79. The firm has a market capitalization of $3.06 billion, a PE ratio of -128.55 and a beta of 1.23.

Neogen (NASDAQ:NEOG) last released its quarterly earnings results on Thursday, October 10th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.03). The company had revenue of $217.00 million for the quarter, compared to analyst estimates of $215.05 million. Neogen had a positive return on equity of 2.80% and a negative net margin of 2.58%. The business’s revenue was down 5.2% on a year-over-year basis. During the same period last year, the firm posted $0.11 earnings per share. Research analysts predict that Neogen Co. will post 0.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NEOG shares. StockNews.com raised Neogen to a “sell” rating in a research note on Monday, September 30th. Piper Sandler boosted their price objective on shares of Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th.

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.