Jane Street Group LLC Sells 233,756 Shares of Neogen Co. (NASDAQ:NEOG)

Jane Street Group LLC trimmed its position in shares of Neogen Co. (NASDAQ:NEOG) by 65.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 122,601 shares of the company’s stock after selling 233,756 shares during the period. Jane Street Group LLC’s holdings in Neogen were worth $2,061,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its holdings in Neogen by 142.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company’s stock valued at $33,000 after acquiring an additional 1,165 shares during the period. Innealta Capital LLC purchased a new stake in shares of Neogen during the second quarter worth about $46,000. Headlands Technologies LLC grew its position in shares of Neogen by 264.1% during the second quarter. Headlands Technologies LLC now owns 3,397 shares of the company’s stock worth $53,000 after purchasing an additional 2,464 shares in the last quarter. Marco Investment Management LLC purchased a new position in Neogen in the 3rd quarter worth approximately $169,000. Finally, Raymond James Trust N.A. bought a new position in Neogen in the 3rd quarter worth approximately $182,000. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NEOG. Guggenheim started coverage on shares of Neogen in a research report on Thursday, December 19th. They set a “buy” rating and a $15.00 price objective on the stock. StockNews.com upgraded shares of Neogen to a “sell” rating in a research note on Monday, September 30th.

Insider Activity at Neogen

In related news, CEO John Edward Adent acquired 14,500 shares of the stock in a transaction dated Friday, October 11th. The stock was acquired at an average cost of $13.80 per share, with a total value of $200,100.00. Following the purchase, the chief executive officer now directly owns 216,477 shares of the company’s stock, valued at approximately $2,987,382.60. This trade represents a 7.18 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.13% of the stock is owned by insiders.

Neogen Stock Performance

NASDAQ:NEOG opened at $12.12 on Tuesday. 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 company has a market cap of $2.63 billion, a price-to-earnings ratio of -110.18 and a beta of 1.21. Neogen Co. has a 1 year low of $11.46 and a 1 year high of $20.81. The stock’s 50 day simple moving average is $14.04 and its two-hundred day simple moving average is $15.50.

Neogen (NASDAQ:NEOG) last released its quarterly earnings results on Thursday, October 10th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $217.00 million for the quarter, compared to analysts’ expectations of $215.05 million. During the same period in the previous year, the company earned $0.11 EPS. Neogen’s revenue for the quarter was down 5.2% compared to the same quarter last year. As a group, equities analysts anticipate that Neogen Co. will post 0.5 earnings per share for the current fiscal 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.