Neogen Co. (NASDAQ:NEOG) Shares Sold by Fmr LLC

Fmr LLC trimmed its holdings in shares of Neogen Co. (NASDAQ:NEOG) by 97.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,586 shares of the company’s stock after selling 552,134 shares during the period. Fmr LLC’s holdings in Neogen were worth $245,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Select Equity Group L.P. increased its stake in Neogen by 23.1% during the 2nd quarter. Select Equity Group L.P. now owns 15,530,439 shares of the company’s stock valued at $242,741,000 after buying an additional 2,914,893 shares during the period. William Blair Investment Management LLC boosted its holdings in shares of Neogen by 64.7% in the second quarter. William Blair Investment Management LLC now owns 12,013,072 shares of the company’s stock valued at $187,764,000 after acquiring an additional 4,717,696 shares in the last quarter. Conestoga Capital Advisors LLC increased 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 valued at $146,352,000 after acquiring an additional 1,711,238 shares during the period. Champlain Investment Partners LLC raised its holdings in Neogen by 10.7% during the third 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 in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Neogen by 148.3% in the second quarter. Dimensional Fund Advisors LP now owns 4,109,180 shares of the company’s stock worth $64,229,000 after purchasing an additional 2,454,566 shares during the period. 96.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NEOG shares. StockNews.com upgraded Neogen to a “sell” rating in a research report on Monday, September 30th. Guggenheim began coverage on Neogen in a report on Thursday. They set a “buy” rating and a $15.00 target price on the stock.

Neogen Stock Up 0.2 %

NEOG stock opened at $12.04 on Friday. The firm has a market cap of $2.61 billion, a PE ratio of -109.45 and a beta of 1.21. Neogen Co. has a 12 month low of $11.46 and a 12 month high of $20.89. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.41 and a quick ratio of 2.79. The firm has a 50 day simple moving average of $14.08 and a 200 day simple moving average of $15.52.

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

Insider Activity

In related news, CEO John Edward Adent acquired 14,500 shares of the business’s 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 approximately $2,987,382.60. This 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 is available at the SEC website. 1.13% of the stock is currently owned by company 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.