Neogen Co. (NASDAQ:NEOG) Shares Sold by Private Trust Co. NA

Private Trust Co. NA lowered its holdings in shares of Neogen Co. (NASDAQ:NEOG) by 23.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,254 shares of the company’s stock after selling 7,706 shares during the period. Private Trust Co. NA’s holdings in Neogen were worth $307,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NEOG. Fred Alger Management LLC raised its position in Neogen by 86.5% during the third quarter. Fred Alger Management LLC now owns 3,986,744 shares of the company’s stock worth $67,017,000 after acquiring an additional 1,849,427 shares during the last quarter. American Capital Management Inc. raised its position in Neogen by 36.5% during the third quarter. American Capital Management Inc. now owns 3,414,700 shares of the company’s stock worth $57,401,000 after acquiring an additional 913,604 shares during the last quarter. Champlain Investment Partners LLC raised its position in Neogen by 10.7% during the third quarter. Champlain Investment Partners LLC now owns 7,110,530 shares of the company’s stock worth $119,528,000 after acquiring an additional 690,029 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in Neogen by 148.0% during the third quarter. Harbor Capital Advisors Inc. now owns 987,008 shares of the company’s stock worth $16,592,000 after acquiring an additional 588,962 shares during the last quarter. Finally, State Street Corp raised its position in Neogen by 3.1% during the third quarter. State Street Corp now owns 7,932,192 shares of the company’s stock worth $133,340,000 after acquiring an additional 236,762 shares during the last quarter. Institutional investors and hedge funds own 96.73% of the company’s stock.

Insider Activity

In related news, CEO John Edward Adent purchased 23,035 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was purchased at an average price of $11.03 per share, with a total value of $254,076.05. Following the completion of the transaction, the chief executive officer now owns 269,164 shares of the company’s stock, valued at approximately $2,968,878.92. This trade represents a 9.36 % increase in their position. The purchase 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 company’s stock in a transaction that occurred on Thursday, January 16th. The shares were bought at an average cost of $11.11 per share, with a total value of $164,428.00. Following the transaction, the chief financial officer now directly owns 61,434 shares of the company’s stock, valued at $682,531.74. The trade was a 31.74 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.13% of the company’s stock.

Neogen Stock Performance

NASDAQ:NEOG opened at $10.05 on Monday. The firm has a 50 day simple moving average of $11.34 and a 200-day simple moving average of $13.72. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.77 and a quick ratio of 2.46. The firm has a market cap of $2.18 billion, a PE ratio of -4.59 and a beta of 1.23. Neogen Co. has a 1-year low of $9.70 and a 1-year high of $18.58.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings data on Friday, January 10th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.12. The business had revenue of $231.30 million during the quarter, compared to analyst estimates of $227.16 million. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The company’s revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.11 earnings per share. On average, equities analysts expect that Neogen Co. will post 0.38 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NEOG shares. Guggenheim started 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 reissued a “neutral” rating and issued a $13.00 price objective (down previously from $16.50) on shares of Neogen in a research report on Tuesday, January 21st.

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.