Creative Planning Decreases Position in Neogen Co. (NASDAQ:NEOG)

Creative Planning lessened its holdings in Neogen Co. (NASDAQ:NEOG) by 7.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 46,245 shares of the company’s stock after selling 3,633 shares during the quarter. Creative Planning’s holdings in Neogen were worth $777,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Covestor Ltd boosted its position in Neogen by 173.2% in the 1st quarter. Covestor Ltd now owns 1,970 shares of the company’s stock valued at $31,000 after buying an additional 1,249 shares during the period. Innealta Capital LLC purchased a new position in Neogen in the 2nd quarter valued at approximately $46,000. Headlands Technologies LLC boosted its position in Neogen by 264.1% in the 2nd quarter. Headlands Technologies LLC now owns 3,397 shares of the company’s stock valued at $53,000 after buying an additional 2,464 shares during the period. Family Firm Inc. purchased a new position in Neogen in the 2nd quarter valued at approximately $90,000. Finally, Quantum Private Wealth LLC purchased a new position in Neogen in the 2nd quarter valued at approximately $156,000. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Neogen Price Performance

Neogen stock opened at $14.44 on Friday. The stock has a market cap of $3.13 billion, a P/E ratio of -131.27 and a beta of 1.23. The company has a fifty day simple moving average of $15.55 and a 200-day simple moving average of $15.20. Neogen Co. has a 12-month low of $11.46 and a 12-month high of $20.89. The company has a current ratio of 4.41, a quick ratio of 2.79 and a debt-to-equity ratio of 0.28.

Neogen (NASDAQ:NEOG) last released its quarterly earnings data on Thursday, October 10th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.03). The firm had revenue of $217.00 million for the quarter, compared to analysts’ expectations of $215.05 million. Neogen had a positive return on equity of 2.80% and a negative net margin of 2.58%. Neogen’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period last year, the firm posted $0.11 earnings per share. Equities analysts expect that Neogen Co. will post 0.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NEOG shares. StockNews.com raised shares of Neogen to a “sell” rating in a research report on Monday, September 30th. Piper Sandler lifted their price objective on shares of Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th.

Insider Buying and Selling

In related news, Director James P. Tobin purchased 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were purchased at an average cost of $16.86 per share, for a total transaction of $50,580.00. Following the purchase, the director now directly owns 23,392 shares of the company’s stock, valued at $394,389.12. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO John Edward Adent purchased 14,500 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were purchased at an average cost of $13.80 per share, for a total transaction of $200,100.00. Following the purchase, the chief executive officer now directly owns 216,477 shares of the company’s stock, valued at $2,987,382.60. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James P. Tobin purchased 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were bought at an average price of $16.86 per share, for a total transaction of $50,580.00. Following the completion of the purchase, the director now directly owns 23,392 shares in the company, valued at $394,389.12. This represents a 0.00 % 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.

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.