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

HighTower Advisors LLC reduced its position in shares of Neogen Co. (NASDAQ:NEOG) by 5.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,151 shares of the company’s stock after selling 1,135 shares during the period. HighTower Advisors LLC’s holdings in Neogen were worth $356,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its stake in shares of Neogen by 142.6% in 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 during the period. Innealta Capital LLC acquired a new position in Neogen in the second quarter valued at approximately $46,000. Headlands Technologies LLC grew its position in Neogen by 264.1% in the second quarter. Headlands Technologies LLC now owns 3,397 shares of the company’s stock worth $53,000 after acquiring an additional 2,464 shares during the period. Marco Investment Management LLC acquired a new stake in Neogen during the third quarter worth $169,000. Finally, Raymond James Trust N.A. purchased a new stake in Neogen in the third quarter valued at $182,000. 96.73% of the stock is owned by hedge funds and other institutional investors.

Neogen Stock Up 0.2 %

Shares of NASDAQ NEOG opened at $12.04 on Monday. Neogen Co. has a 52-week low of $11.46 and a 52-week high of $20.89. The business’s 50 day moving average is $14.04 and its two-hundred day moving average is $15.51. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of -109.45 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 posted its quarterly earnings data 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 firm had revenue of $217.00 million during the quarter, compared to analysts’ expectations of $215.05 million. During the same quarter in the prior year, the firm posted $0.11 EPS. Neogen’s quarterly revenue was down 5.2% compared to the same quarter last year. Research analysts predict that Neogen Co. will post 0.5 EPS for the current year.

Insider Transactions at Neogen

In other Neogen news, CEO John Edward Adent acquired 14,500 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was purchased 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 of the company’s stock, valued at approximately $2,987,382.60. This trade represents a 7.18 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on NEOG shares. StockNews.com upgraded Neogen to a “sell” rating in a report on Monday, September 30th. Guggenheim began coverage on shares of Neogen in a research note on Thursday. They set a “buy” rating and a $15.00 target price for the company.

About Neogen

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.