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

Jane Street Group LLC lessened its position in Neogen Co. (NASDAQ:NEOG) by 65.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 122,601 shares of the company’s stock after selling 233,756 shares during the period. Jane Street Group LLC owned about 0.06% of Neogen worth $2,061,000 as of its most recent SEC filing.

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

Neogen Stock Up 0.7 %

NEOG stock opened at $12.12 on Tuesday. The company has a market cap of $2.63 billion, a price-to-earnings ratio of -110.18 and a beta of 1.21. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.79 and a current ratio of 4.41. The business’s 50-day moving average is $14.04 and its two-hundred day moving average is $15.50. Neogen Co. has a fifty-two week low of $11.46 and a fifty-two week high of $20.81.

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 analysts’ consensus estimates of $0.10 by ($0.03). Neogen had a positive return on equity of 2.80% and a negative net margin of 2.58%. The business had revenue of $217.00 million during the quarter, compared to analysts’ expectations of $215.05 million. During the same period in the previous year, the business posted $0.11 EPS. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. As a group, analysts forecast that Neogen Co. will post 0.5 earnings per share for the current year.

Insider Activity

In related news, CEO John Edward Adent bought 14,500 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were bought at an average cost of $13.80 per share, for a total transaction of $200,100.00. Following the completion of the transaction, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.13% of the company’s stock.

Wall Street Analyst Weigh In

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

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.