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

Natixis Advisors LLC lowered its stake in shares of Neogen Co. (NASDAQ:NEOG) by 7.8% in the fourth quarter, HoldingsChannel reports. The fund owned 88,895 shares of the company’s stock after selling 7,479 shares during the quarter. Natixis Advisors LLC’s holdings in Neogen were worth $1,079,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of NEOG. Fred Alger Management LLC increased its position in Neogen by 86.5% during the third quarter. Fred Alger Management LLC now owns 3,986,744 shares of the company’s stock worth $67,017,000 after purchasing an additional 1,849,427 shares during the last quarter. American Capital Management Inc. increased its holdings in shares of Neogen by 36.5% during the 3rd quarter. American Capital Management Inc. now owns 3,414,700 shares of the company’s stock worth $57,401,000 after buying an additional 913,604 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Neogen by 32.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 1,303,465 shares of the company’s stock valued at $15,824,000 after acquiring an additional 316,457 shares during the last quarter. State Street Corp grew its position in Neogen by 3.1% during the third quarter. State Street Corp now owns 7,932,192 shares of the company’s stock valued at $133,340,000 after acquiring an additional 236,762 shares during the period. Finally, Franklin Resources Inc. grew its position in Neogen by 33.9% during the third quarter. Franklin Resources Inc. now owns 923,918 shares of the company’s stock valued at $15,531,000 after acquiring an additional 233,796 shares during the period. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

Neogen Price Performance

NEOG stock opened at $8.45 on Wednesday. The firm has a market cap of $1.83 billion, a P/E ratio of -3.86 and a beta of 1.27. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.46 and a current ratio of 3.77. Neogen Co. has a 1 year low of $8.44 and a 1 year high of $18.58. The stock has a 50-day simple moving average of $10.31 and a 200-day simple moving average of $12.86.

Neogen (NASDAQ:NEOG) last posted its earnings results on Friday, January 10th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.12. The business had revenue of $231.30 million for the quarter, compared to analysts’ expectations of $227.16 million. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.11 earnings per share. On average, equities analysts predict that Neogen Co. will post 0.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NEOG. Piper Sandler reaffirmed a “neutral” rating and issued a $13.00 price objective (down from $16.50) on shares of Neogen in a research note on Tuesday, January 21st. Guggenheim began coverage on shares of Neogen in a research report on Thursday, December 19th. They set a “buy” rating and a $15.00 price target on the stock.

Insider Activity

In related news, CEO John Edward Adent purchased 23,035 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was acquired at an average price of $11.03 per share, with a total value of $254,076.05. Following the completion of the transaction, the chief executive officer now owns 269,164 shares of the company’s stock, valued at $2,968,878.92. This represents a 9.36 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David H. Naemura acquired 14,800 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were bought at an average cost of $11.11 per share, with a total value of $164,428.00. Following the completion of the acquisition, the chief financial officer now owns 61,434 shares in the company, valued at $682,531.74. This represents a 31.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.13% of the company’s stock.

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.