Neogen Co. (NASDAQ:NEOG) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC reduced its stake in shares of Neogen Co. (NASDAQ:NEOG) by 50.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,696 shares of the company’s stock after selling 25,307 shares during the period. Corient Private Wealth LLC’s holdings in Neogen were worth $300,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Harbor Capital Advisors Inc. increased its position in Neogen by 32.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 1,303,465 shares of the company’s stock worth $15,824,000 after buying an additional 316,457 shares in the last quarter. State Street Corp boosted its stake in shares of Neogen by 3.1% during the third quarter. State Street Corp now owns 7,932,192 shares of the company’s stock valued at $133,340,000 after acquiring an additional 236,762 shares during the last quarter. Franklin Resources Inc. increased its position in Neogen by 33.9% during the 3rd quarter. Franklin Resources Inc. now owns 923,918 shares of the company’s stock worth $15,531,000 after purchasing an additional 233,796 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Neogen in the 4th quarter valued at about $2,744,000. Finally, Barclays PLC lifted its holdings in Neogen by 129.8% in the 3rd quarter. Barclays PLC now owns 366,753 shares of the company’s stock valued at $6,165,000 after purchasing an additional 207,160 shares in the last quarter. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Insider Buying and Selling at Neogen

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

Wall Street Analysts Forecast Growth

NEOG has been the subject of a number of recent research reports. Piper Sandler reiterated a “neutral” rating and set a $13.00 price target (down from $16.50) on shares of Neogen in a report on Tuesday, January 21st. Guggenheim assumed coverage on Neogen in a report on Thursday, December 19th. They issued a “buy” rating and a $15.00 price target for the company.

Neogen Stock Up 0.3 %

Shares of NASDAQ:NEOG opened at $8.67 on Tuesday. The company has a current ratio of 3.77, a quick ratio of 2.46 and a debt-to-equity ratio of 0.33. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of -3.96 and a beta of 1.27. The stock’s 50-day moving average price is $10.08 and its two-hundred day moving average price is $12.67. Neogen Co. has a 12-month low of $8.31 and a 12-month high of $18.58.

Neogen (NASDAQ:NEOG) last released its earnings results 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. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The business had revenue of $231.30 million for the quarter, compared to analysts’ expectations of $227.16 million. During the same period last year, the company earned $0.11 earnings per share. The company’s quarterly revenue was up .7% on a year-over-year basis. On average, research analysts forecast that Neogen Co. will post 0.38 EPS for the current year.

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.