Neogen Co. (NASDAQ:NEOG) Shares Sold by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC decreased its holdings in shares of Neogen Co. (NASDAQ:NEOG) by 1.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 71,159 shares of the company’s stock after selling 829 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Neogen were worth $1,431,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its stake in Neogen by 416.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,033 shares of the company’s stock worth $56,000 after acquiring an additional 2,446 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in shares of Neogen in the third quarter valued at $151,000. Fifth Third Bancorp grew its stake in shares of Neogen by 10.7% in the third quarter. Fifth Third Bancorp now owns 9,967 shares of the company’s stock valued at $185,000 after buying an additional 966 shares in the last quarter. Savant Capital LLC grew its stake in shares of Neogen by 9.4% in the third quarter. Savant Capital LLC now owns 10,320 shares of the company’s stock valued at $191,000 after buying an additional 889 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Neogen in the third quarter valued at $201,000. Institutional investors and hedge funds own 96.73% of the company’s stock.

Neogen Stock Down 0.2 %

NASDAQ:NEOG traded down $0.03 during midday trading on Wednesday, reaching $12.28. The company had a trading volume of 1,040,069 shares, compared to its average volume of 2,123,069. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of 1,232.23 and a beta of 1.13. The stock’s fifty day simple moving average is $15.22 and its 200-day simple moving average is $16.42. Neogen Co. has a 12-month low of $11.46 and a 12-month high of $24.09. The company has a current ratio of 3.82, a quick ratio of 2.66 and a debt-to-equity ratio of 0.28.

Neogen (NASDAQ:NEOG) last released its earnings results on Tuesday, April 9th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). The company had revenue of $228.80 million during the quarter, compared to analysts’ expectations of $230.01 million. Neogen had a net margin of 0.17% and a return on equity of 3.35%. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the business posted $0.12 earnings per share. On average, sell-side analysts anticipate that Neogen Co. will post 0.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO David H. Naemura purchased 12,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The shares were purchased at an average price of $12.51 per share, for a total transaction of $156,375.00. Following the transaction, the chief financial officer now directly owns 30,040 shares of the company’s stock, valued at approximately $375,800.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Neogen news, CFO David H. Naemura bought 12,500 shares of the company’s stock in a transaction on Wednesday, April 10th. The shares were bought at an average price of $12.51 per share, for a total transaction of $156,375.00. Following the transaction, the chief financial officer now owns 30,040 shares of the company’s stock, valued at approximately $375,800.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Douglas Edward Jones bought 10,000 shares of the company’s stock in a transaction on Wednesday, April 17th. The shares were acquired at an average price of $12.36 per share, for a total transaction of $123,600.00. Following the transaction, the chief operating officer now directly owns 46,131 shares in the company, valued at approximately $570,179.16. The disclosure for this purchase can be found here. Insiders acquired 53,000 shares of company stock valued at $662,205 in the last ninety days. Insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler dropped their price objective on Neogen from $19.00 to $17.00 and set a “neutral” rating for the company 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.