Oppenheimer Asset Management Inc. Reduces Stake in Neogen Co. (NASDAQ:NEOG)

Oppenheimer Asset Management Inc. cut its position in Neogen Co. (NASDAQ:NEOG) by 42.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,122 shares of the company’s stock after selling 54,048 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Neogen were worth $1,170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of NEOG. Connable Office Inc. purchased a new stake in shares of Neogen in the 4th quarter worth about $202,000. Moody National Bank Trust Division purchased a new position in shares of Neogen in the first quarter worth $161,000. Vise Technologies Inc. purchased a new stake in Neogen during the fourth quarter valued at $220,000. Washington Trust Advisors Inc. increased its position in Neogen by 10.1% during the fourth quarter. Washington Trust Advisors Inc. now owns 11,966 shares of the company’s stock valued at $241,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in Neogen by 5.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 12,900 shares of the company’s stock worth $259,000 after acquiring an additional 711 shares in the last quarter. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

Neogen Stock Performance

NASDAQ NEOG opened at $16.45 on Monday. The company has a market cap of $3.56 billion, a P/E ratio of 1,646.65 and a beta of 1.20. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.82 and a quick ratio of 2.66. The stock has a 50-day moving average of $14.80 and a two-hundred day moving average of $15.44. Neogen Co. has a 1-year low of $11.46 and a 1-year high of $24.09.

Insider Activity at Neogen

In other news, COO Douglas Edward Jones acquired 10,000 shares of Neogen stock in a transaction on Wednesday, April 17th. The stock was bought at an average price of $12.36 per share, for a total transaction of $123,600.00. Following the completion of the purchase, the chief operating officer now owns 46,131 shares in the company, valued at $570,179.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.71% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NEOG. StockNews.com raised shares of Neogen to a “sell” rating in a research report on Wednesday, July 10th. Piper Sandler dropped their price objective on shares of Neogen from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, April 15th.

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.