Atria Investments Inc Raises Holdings in Neogen Co. (NASDAQ:NEOG)

Atria Investments Inc lifted its holdings in shares of Neogen Co. (NASDAQ:NEOG) by 29.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,417 shares of the company’s stock after buying an additional 7,408 shares during the period. Atria Investments Inc’s holdings in Neogen were worth $545,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of NEOG. William Blair Investment Management LLC raised its stake in shares of Neogen by 64.7% during the 2nd quarter. William Blair Investment Management LLC now owns 12,013,072 shares of the company’s stock worth $187,764,000 after buying an additional 4,717,696 shares in the last quarter. Select Equity Group L.P. raised its stake 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 worth $242,741,000 after buying an additional 2,914,893 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Neogen by 148.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,109,180 shares of the company’s stock worth $64,229,000 after buying an additional 2,454,566 shares in the last quarter. Shapiro Capital Management LLC purchased a new position in shares of Neogen during the 2nd quarter worth approximately $31,087,000. Finally, Fred Alger Management LLC raised its stake in shares of Neogen by 542.3% during the 2nd quarter. Fred Alger Management LLC now owns 2,137,317 shares of the company’s stock worth $33,406,000 after buying an additional 1,804,550 shares in the last quarter. 96.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NEOG has been the subject of several research analyst reports. StockNews.com raised Neogen to a “sell” rating in a research note on Monday, September 30th. Piper Sandler raised their price objective on Neogen from $17.00 to $17.50 and gave the company a “neutral” rating in a research note on Tuesday, August 6th.

Neogen Stock Performance

NASDAQ NEOG opened at $15.09 on Wednesday. Neogen Co. has a 1-year low of $11.46 and a 1-year high of $20.89. The company has a market capitalization of $3.27 billion, a P/E ratio of -137.18 and a beta of 1.23. The business has a 50 day moving average price of $15.28 and a 200 day moving average price of $15.51. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.41 and a quick ratio of 2.79.

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

Insider Buying and Selling at Neogen

In related news, CEO John Edward Adent bought 14,500 shares of the stock in a transaction on Friday, October 11th. The shares were purchased at an average price of $13.80 per share, for a total transaction of $200,100.00. Following the acquisition, the chief executive officer now owns 216,477 shares in the company, valued at $2,987,382.60. This represents a 7.18 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.13% of the stock is owned by insiders.

Neogen 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.