Legal & General Group Plc Has $4.01 Million Stock Holdings in Neogen Co. (NASDAQ:NEOG)

Legal & General Group Plc reduced its stake in Neogen Co. (NASDAQ:NEOG) by 3.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 330,169 shares of the company’s stock after selling 10,358 shares during the period. Legal & General Group Plc owned 0.15% of Neogen worth $4,008,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Barclays PLC grew its position in shares of Neogen by 129.8% during the 3rd quarter. Barclays PLC now owns 366,753 shares of the company’s stock worth $6,165,000 after buying an additional 207,160 shares during the period. Franklin Resources Inc. boosted its stake in Neogen by 33.9% during the 3rd quarter. Franklin Resources Inc. now owns 923,918 shares of the company’s stock worth $15,531,000 after acquiring an additional 233,796 shares during the last quarter. Diversified Trust Co grew its holdings in Neogen by 7.1% during the fourth quarter. Diversified Trust Co now owns 74,446 shares of the company’s stock valued at $904,000 after purchasing an additional 4,961 shares during the period. Harbor Capital Advisors Inc. increased its stake 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 purchasing an additional 316,457 shares in the last quarter. Finally, Procyon Advisors LLC raised its holdings in Neogen by 22.3% in the fourth quarter. Procyon Advisors LLC now owns 35,513 shares of the company’s stock worth $431,000 after purchasing an additional 6,467 shares during the period. 96.73% of the stock is owned by institutional investors and hedge funds.

Neogen Trading Up 1.3 %

Shares of NASDAQ:NEOG opened at $4.75 on Wednesday. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of -2.17 and a beta of 1.57. Neogen Co. has a 12 month low of $3.87 and a 12 month high of $18.58. The company’s fifty day simple moving average is $8.30 and its 200 day simple moving average is $11.42. The company has a quick ratio of 2.46, a current ratio of 3.77 and a debt-to-equity ratio of 0.33.

Neogen (NASDAQ:NEOG) last released its quarterly earnings results on Wednesday, April 9th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.02). The firm had revenue of $221.00 million during the quarter, compared to analyst estimates of $225.27 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 down 3.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.12 EPS. As a group, research analysts forecast that Neogen Co. will post 0.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other Neogen news, Director James P. Tobin acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, April 22nd. The shares were acquired at an average price of $4.73 per share, with a total value of $47,300.00. Following the completion of the transaction, the director now directly owns 37,474 shares in the company, valued at $177,252.02. This trade represents a 36.40 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Guggenheim lowered their price objective on shares of Neogen from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Piper Sandler lowered their price target on Neogen from $6.40 to $5.00 and set a “neutral” rating for the company in a report on Tuesday.

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.