Centiva Capital LP Purchases Shares of 20,522 Neogen Co. (NASDAQ:NEOG)

Centiva Capital LP acquired a new position in Neogen Co. (NASDAQ:NEOG) during the third quarter, Holdings Channel reports. The firm acquired 20,522 shares of the company’s stock, valued at approximately $345,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Select Equity Group L.P. grew its holdings in shares of Neogen by 23.1% during the second quarter. Select Equity Group L.P. now owns 15,530,439 shares of the company’s stock worth $242,741,000 after purchasing an additional 2,914,893 shares in the last quarter. William Blair Investment Management LLC lifted its position in Neogen by 64.7% in 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 during the last quarter. Conestoga Capital Advisors LLC raised its stake in shares of Neogen by 24.5% during the third quarter. Conestoga Capital Advisors LLC now owns 8,706,224 shares of the company’s stock worth $146,352,000 after acquiring an additional 1,711,238 shares in the last quarter. Bamco Inc. NY grew its holdings in shares of Neogen by 1.4% during the 3rd quarter. Bamco Inc. NY now owns 7,303,115 shares of the company’s stock valued at $122,765,000 after purchasing an additional 98,067 shares during the last quarter. Finally, Champlain Investment Partners LLC raised its position in Neogen by 10.7% in the 3rd quarter. Champlain Investment Partners LLC now owns 7,110,530 shares of the company’s stock worth $119,528,000 after purchasing an additional 690,029 shares during the period. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO John Edward Adent acquired 14,500 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was acquired at an average price of $13.80 per share, for a total transaction of $200,100.00. Following the completion of the acquisition, the chief executive officer now owns 216,477 shares in the company, valued at $2,987,382.60. This trade represents a 7.18 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, StockNews.com upgraded Neogen to a “sell” rating in a report on Monday, September 30th.

Neogen Price Performance

Shares of Neogen stock opened at $13.11 on Tuesday. The business has a 50 day moving average of $14.51 and a 200 day moving average of $15.61. Neogen Co. has a 52 week low of $11.46 and a 52 week high of $20.89. The company has a market cap of $2.84 billion, a PE ratio of -119.18 and a beta of 1.21. The company has a quick ratio of 2.79, a current ratio of 4.41 and a debt-to-equity ratio of 0.28.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings data on Thursday, October 10th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.03). The company had revenue of $217.00 million during the quarter, compared to the consensus estimate of $215.05 million. Neogen had a positive return on equity of 2.80% and a negative net margin of 2.58%. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.11 earnings per share. As a group, equities research analysts forecast that Neogen Co. will post 0.5 earnings per share for the current year.

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.