Stifel Financial Corp Cuts Stock Position in Neogen Co. (NASDAQ:NEOG)

Stifel Financial Corp lessened its position in shares of Neogen Co. (NASDAQ:NEOG) by 16.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,250 shares of the company’s stock after selling 3,816 shares during the quarter. Stifel Financial Corp’s holdings in Neogen were worth $324,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its position in Neogen by 142.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company’s stock valued at $33,000 after buying an additional 1,165 shares in the last quarter. Headlands Technologies LLC increased its holdings in shares of Neogen by 264.1% during the second quarter. Headlands Technologies LLC now owns 3,397 shares of the company’s stock valued at $53,000 after acquiring an additional 2,464 shares in the last quarter. Marco Investment Management LLC purchased a new position in shares of Neogen in the 3rd quarter valued at approximately $169,000. Raymond James Trust N.A. acquired a new stake in Neogen in the 3rd quarter worth approximately $182,000. Finally, International Assets Investment Management LLC grew its position in Neogen by 1,581.0% during the 3rd quarter. International Assets Investment Management LLC now owns 11,666 shares of the company’s stock worth $196,000 after purchasing an additional 10,972 shares during the last quarter. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Wall Street Analysts Forecast Growth

NEOG has been the topic of several research analyst reports. Guggenheim initiated coverage on Neogen in a research note on Thursday, December 19th. They set a “buy” rating and a $15.00 price target on the stock. StockNews.com upgraded Neogen to a “sell” rating in a research report on Monday, September 30th.

Neogen Stock Performance

NEOG opened at $12.43 on Friday. Neogen Co. has a twelve month low of $11.46 and a twelve month high of $20.72. The firm has a market capitalization of $2.69 billion, a PE ratio of -113.00 and a beta of 1.21. The company has a current ratio of 4.41, a quick ratio of 2.79 and a debt-to-equity ratio of 0.28. The firm’s 50-day moving average price is $13.82 and its 200 day moving average price is $15.38.

Neogen (NASDAQ:NEOG) last issued its earnings results 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). Neogen had a negative net margin of 2.58% and a positive return on equity of 2.80%. The company had revenue of $217.00 million during the quarter, compared to analysts’ expectations of $215.05 million. During the same quarter in the previous year, the company earned $0.11 earnings per share. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. As a group, sell-side analysts expect that Neogen Co. will post 0.5 EPS for the current fiscal year.

Insider Activity at Neogen

In other news, CEO John Edward Adent bought 14,500 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was bought at an average cost of $13.80 per share, for a total transaction of $200,100.00. Following the acquisition, 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 7.18 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 1.13% of the stock is currently owned by 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.