Federated Hermes Inc. Sells 3,084 Shares of Neogen Co. (NASDAQ:NEOG)

Federated Hermes Inc. lessened its stake in shares of Neogen Co. (NASDAQ:NEOG) by 16.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 15,562 shares of the company’s stock after selling 3,084 shares during the period. Federated Hermes Inc.’s holdings in Neogen were worth $313,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of NEOG. New York State Teachers Retirement System raised its position in Neogen by 29.1% during the 3rd quarter. New York State Teachers Retirement System now owns 126,506 shares of the company’s stock valued at $2,345,000 after purchasing an additional 28,507 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Neogen by 17.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,145 shares of the company’s stock valued at $763,000 after acquiring an additional 6,166 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Neogen by 4.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 98,392 shares of the company’s stock worth $1,824,000 after acquiring an additional 4,136 shares during the period. Advisor Partners II LLC increased its position in Neogen by 6.0% during the 3rd quarter. Advisor Partners II LLC now owns 19,622 shares of the company’s stock valued at $364,000 after purchasing an additional 1,109 shares during the period. Finally, Inspire Advisors LLC bought a new stake in shares of Neogen in the 3rd quarter valued at about $610,000. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Neogen Stock Performance

Shares of Neogen stock opened at $12.02 on Friday. The company has a market capitalization of $2.60 billion, a PE ratio of 1,203.20 and a beta of 1.18. The company has a 50-day simple moving average of $14.41 and a two-hundred day simple moving average of $16.22. Neogen Co. has a one year low of $11.46 and a one year high of $24.09. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.66 and a current ratio of 3.82.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings data on Tuesday, April 9th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.02). The firm had revenue of $228.80 million for the quarter, compared to the consensus estimate of $230.01 million. Neogen had a return on equity of 3.35% and a net margin of 0.17%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.12 EPS. Research analysts expect that Neogen Co. will post 0.46 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Piper Sandler cut their price objective on shares of Neogen from $19.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday, April 15th.

Insider Activity

In other Neogen news, Director James C. Borel bought 7,500 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The shares were purchased at an average cost of $13.06 per share, for a total transaction of $97,950.00. Following the purchase, the director now directly owns 21,392 shares in the company, valued at $279,379.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director James C. Borel purchased 7,500 shares of the business’s stock in a transaction on Thursday, April 11th. The shares were acquired at an average price of $13.06 per share, for a total transaction of $97,950.00. Following the purchase, the director now owns 21,392 shares of the company’s stock, valued at approximately $279,379.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John Edward Adent purchased 23,000 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was bought at an average cost of $12.36 per share, with a total value of $284,280.00. Following the acquisition, the chief executive officer now owns 152,389 shares of the company’s stock, valued at approximately $1,883,528.04. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 53,000 shares of company stock worth $662,205. Insiders own 0.71% 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.