Neogen Co. (NASDAQ:NEOG) Shares Acquired by Conestoga Capital Advisors LLC

Conestoga Capital Advisors LLC increased its position in shares of Neogen Co. (NASDAQ:NEOG) by 24.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,706,224 shares of the company’s stock after buying an additional 1,711,238 shares during the period. Neogen comprises approximately 2.0% of Conestoga Capital Advisors LLC’s holdings, making the stock its 20th biggest holding. Conestoga Capital Advisors LLC owned about 4.02% of Neogen worth $146,352,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Covestor Ltd boosted its stake in Neogen by 173.2% during the 1st quarter. Covestor Ltd now owns 1,970 shares of the company’s stock valued at $31,000 after acquiring an additional 1,249 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Neogen by 142.6% during the third 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 in the last quarter. Innealta Capital LLC bought a new position in Neogen during the 2nd quarter worth approximately $46,000. Headlands Technologies LLC grew its position in shares of Neogen by 264.1% in the 2nd quarter. Headlands Technologies LLC now owns 3,397 shares of the company’s stock worth $53,000 after acquiring an additional 2,464 shares in the last quarter. Finally, Family Firm Inc. bought a new stake in shares of Neogen in the 2nd quarter valued at approximately $90,000. Institutional investors and hedge funds own 96.73% of the company’s stock.

Neogen Stock Performance

Shares of NASDAQ NEOG traded up $0.27 during midday trading on Friday, hitting $14.55. 210,341 shares of the company’s stock were exchanged, compared to its average volume of 1,913,493. Neogen Co. has a twelve month low of $11.46 and a twelve month high of $20.89. The firm has a market cap of $3.15 billion, a P/E ratio of -129.82 and a beta of 1.21. The stock’s 50 day moving average price is $15.63 and its 200-day moving average price is $15.19. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.41 and a quick ratio of 2.79.

Neogen (NASDAQ:NEOG) last released its quarterly earnings results 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). The business had revenue of $217.00 million during the quarter, compared to the consensus estimate of $215.05 million. Neogen had a positive return on equity of 2.80% and a negative net margin of 2.58%. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.11 EPS. Equities research analysts anticipate that Neogen Co. will post 0.52 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on NEOG. Piper Sandler raised their price objective on Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. StockNews.com raised shares of Neogen to a “sell” rating in a report on Monday, September 30th.

Insider Activity at Neogen

In related news, CEO John Edward Adent acquired 14,500 shares of Neogen stock in a transaction dated Friday, October 11th. The stock was acquired at an average cost of $13.80 per share, with a total value of $200,100.00. Following the purchase, the chief executive officer now directly owns 216,477 shares in the company, valued at $2,987,382.60. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO John Edward Adent acquired 14,500 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was purchased at an average price of $13.80 per share, with a total value of $200,100.00. Following the purchase, 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 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James P. Tobin purchased 3,000 shares of Neogen stock in a transaction dated Tuesday, August 6th. The stock was bought at an average cost of $16.86 per share, with a total value of $50,580.00. Following the completion of the transaction, the director now directly owns 23,392 shares of the company’s stock, valued at $394,389.12. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.13% 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.