Sumitomo Mitsui Trust Group Inc. Sells 4,195 Shares of Neogen Co. (NASDAQ:NEOG)

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of Neogen Co. (NASDAQ:NEOG) by 6.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 57,921 shares of the company’s stock after selling 4,195 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Neogen were worth $974,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Neogen by 0.9% during the first quarter. Vanguard Group Inc. now owns 19,715,974 shares of the company’s stock valued at $311,118,000 after acquiring an additional 169,237 shares during the last quarter. Select Equity Group L.P. increased its position in shares of Neogen by 23.1% during the 2nd quarter. Select Equity Group L.P. now owns 15,530,439 shares of the company’s stock valued at $242,741,000 after purchasing an additional 2,914,893 shares during the last quarter. William Blair Investment Management LLC lifted its stake 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 worth $187,764,000 after purchasing an additional 4,717,696 shares during the period. Conestoga Capital Advisors LLC boosted its holdings in shares of Neogen by 24.5% in the third quarter. Conestoga Capital Advisors LLC now owns 8,706,224 shares of the company’s stock worth $146,352,000 after buying an additional 1,711,238 shares during the last quarter. Finally, Bamco Inc. NY grew its position in Neogen by 10.3% during the first quarter. Bamco Inc. NY now owns 7,304,967 shares of the company’s stock valued at $115,272,000 after buying an additional 680,668 shares during the period. 96.73% of the stock is currently owned by institutional investors.

Insider Activity at Neogen

In other Neogen news, CEO John Edward Adent bought 14,500 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 216,477 shares of the company’s stock, valued at $2,987,382.60. This trade represents a 7.18 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.13% of the stock is owned by corporate insiders.

Neogen Stock Down 0.7 %

NASDAQ NEOG opened at $15.09 on Wednesday. Neogen Co. has a 52 week low of $11.46 and a 52 week high of $20.89. The company has a quick ratio of 2.79, a current ratio of 4.41 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $3.27 billion, a P/E ratio of -137.18 and a beta of 1.23. The stock’s 50-day moving average price is $15.28 and its 200-day moving average price is $15.51.

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

Analyst Upgrades and Downgrades

NEOG has been the topic of several recent research reports. Piper Sandler increased their price target on shares of Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. StockNews.com upgraded Neogen to a “sell” rating in a research note on Monday, September 30th.

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.