Neogen Co. (NASDAQ:NEOG) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lessened its stake in shares of Neogen Co. (NASDAQ:NEOG) by 40.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,731 shares of the company’s stock after selling 17,520 shares during the quarter. Bank of Montreal Can’s holdings in Neogen were worth $312,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Neogen during the fourth quarter worth $212,171,000. Clarkston Capital Partners LLC purchased a new position in shares of Neogen in the fourth quarter valued at approximately $34,801,000. Vanguard Group Inc. increased its stake in Neogen by 9.8% during the 4th quarter. Vanguard Group Inc. now owns 21,637,251 shares of the company’s stock worth $262,676,000 after buying an additional 1,928,491 shares during the period. William Blair Investment Management LLC lifted its holdings in Neogen by 8.1% during the 4th quarter. William Blair Investment Management LLC now owns 14,346,759 shares of the company’s stock worth $174,170,000 after buying an additional 1,074,825 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Neogen by 55.0% in the fourth quarter. American Century Companies Inc. now owns 2,606,043 shares of the company’s stock worth $31,637,000 after acquiring an additional 924,571 shares in the last quarter. 96.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Amy M. Rocklin purchased 12,500 shares of the business’s stock in a transaction dated Wednesday, April 23rd. The stock was acquired at an average price of $4.99 per share, for a total transaction of $62,375.00. Following the completion of the purchase, the insider now directly owns 36,287 shares of the company’s stock, valued at $181,072.13. This trade represents a 52.55 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James P. Tobin bought 10,000 shares of Neogen stock in a transaction dated Tuesday, April 22nd. The stock was purchased at an average price of $4.73 per share, with a total value of $47,300.00. Following the purchase, the director now directly owns 37,474 shares in the company, valued at approximately $177,252.02. This trade represents a 36.40 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 32,500 shares of company stock valued at $160,375 in the last ninety days. 1.13% of the stock is currently owned by company insiders.

Neogen Stock Performance

Shares of Neogen stock opened at $4.92 on Thursday. The firm has a market capitalization of $1.07 billion, a P/E ratio of -2.25 and a beta of 1.57. 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 Co. has a 52 week low of $3.87 and a 52 week high of $18.58. The firm’s 50 day moving average is $8.20 and its two-hundred day moving average is $11.38.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings results on Wednesday, April 9th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The company had revenue of $221.00 million during the quarter, compared to analysts’ expectations of $225.27 million. During the same period last year, the firm earned $0.12 earnings per share. Neogen’s revenue was down 3.4% on a year-over-year basis. Research analysts forecast that Neogen Co. will post 0.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NEOG has been the subject of several recent research reports. Piper Sandler decreased their price objective on Neogen from $6.40 to $5.00 and set a “neutral” rating for the company in a research note on Tuesday. Guggenheim dropped their price objective on shares of Neogen from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th.

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.