Neogen Co. (NASDAQ:NEOG) Stock Position Decreased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC decreased its position in Neogen Co. (NASDAQ:NEOG) by 29.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 57,992 shares of the company’s stock after selling 24,298 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Neogen were worth $704,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in NEOG. Stephens Inc. AR raised its position in Neogen by 2.6% in the third quarter. Stephens Inc. AR now owns 35,930 shares of the company’s stock worth $604,000 after purchasing an additional 909 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Neogen by 142.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company’s stock worth $33,000 after buying an additional 1,165 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of Neogen by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 22,810 shares of the company’s stock worth $383,000 after buying an additional 1,550 shares during the period. Inspire Investing LLC boosted its stake in Neogen by 6.6% in the 3rd quarter. Inspire Investing LLC now owns 27,803 shares of the company’s stock valued at $467,000 after buying an additional 1,729 shares in the last quarter. Finally, Lindenwold Advisors INC grew its position in Neogen by 19.1% in the third quarter. Lindenwold Advisors INC now owns 12,821 shares of the company’s stock valued at $216,000 after acquiring an additional 2,055 shares during the period. Institutional investors and hedge funds own 96.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NEOG shares. Guggenheim began coverage on shares of Neogen in a research report on Thursday, December 19th. They set a “buy” rating and a $15.00 target price for the company. Piper Sandler reaffirmed a “neutral” rating and set a $13.00 price objective (down previously from $16.50) on shares of Neogen in a report on Tuesday, January 21st.

Neogen Trading Down 2.8 %

Shares of NASDAQ NEOG opened at $10.37 on Friday. Neogen Co. has a 1-year low of $10.27 and a 1-year high of $18.58. The company has a 50-day moving average of $12.08 and a two-hundred day moving average of $14.46. The company has a market cap of $2.25 billion, a PE ratio of -4.74 and a beta of 1.23. 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) last posted its quarterly earnings data on Friday, January 10th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.12. The firm had revenue of $231.30 million for the quarter, compared to the consensus estimate of $227.16 million. Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 EPS. As a group, equities analysts expect that Neogen Co. will post 0.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Neogen

In related news, CEO John Edward Adent bought 23,035 shares of Neogen stock in a transaction on Thursday, January 16th. The shares were purchased at an average price of $11.03 per share, for a total transaction of $254,076.05. Following the completion of the acquisition, the chief executive officer now owns 269,164 shares in the company, valued at approximately $2,968,878.92. This represents a 9.36 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David H. Naemura purchased 14,800 shares of the stock in a transaction dated Thursday, January 16th. The stock was bought at an average cost of $11.11 per share, with a total value of $164,428.00. Following the completion of the purchase, the chief financial officer now owns 61,434 shares in the company, valued at $682,531.74. The trade was a 31.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.13% of the company’s stock.

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.