Conestoga Capital Advisors LLC Sells 202,636 Shares of Neogen Co. (NASDAQ:NEOG)

Conestoga Capital Advisors LLC reduced its position in Neogen Co. (NASDAQ:NEOG) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,503,588 shares of the company’s stock after selling 202,636 shares during the quarter. Conestoga Capital Advisors LLC’s holdings in Neogen were worth $103,234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Fred Alger Management LLC boosted its holdings in Neogen by 86.5% in the 3rd quarter. Fred Alger Management LLC now owns 3,986,744 shares of the company’s stock worth $67,017,000 after buying an additional 1,849,427 shares during the period. Millennium Management LLC bought a new position in shares of Neogen in the second quarter worth about $19,338,000. American Capital Management Inc. grew its position in shares of Neogen by 36.5% during the third quarter. American Capital Management Inc. now owns 3,414,700 shares of the company’s stock worth $57,401,000 after purchasing an additional 913,604 shares in the last quarter. Champlain Investment Partners LLC raised its stake in Neogen by 10.7% during the 3rd quarter. Champlain Investment Partners LLC now owns 7,110,530 shares of the company’s stock valued at $119,528,000 after purchasing an additional 690,029 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its holdings in Neogen by 148.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 987,008 shares of the company’s stock worth $16,592,000 after purchasing an additional 588,962 shares in the last quarter. 96.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NEOG. Guggenheim started coverage on shares of Neogen in a report on Thursday, December 19th. They set a “buy” rating and a $15.00 price objective for the company. Piper Sandler reaffirmed a “neutral” rating and set a $13.00 target price (down from $16.50) on shares of Neogen in a research note on Tuesday, January 21st.

Insider Buying and Selling at Neogen

In related news, CEO John Edward Adent purchased 23,035 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was bought at an average cost of $11.03 per share, for a total transaction of $254,076.05. Following the completion of the transaction, the chief executive officer now directly owns 269,164 shares in the company, valued at $2,968,878.92. This represents a 9.36 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO David H. Naemura acquired 14,800 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were purchased at an average price of $11.11 per share, for a total transaction of $164,428.00. Following the transaction, the chief financial officer now directly owns 61,434 shares of the company’s stock, valued at approximately $682,531.74. The trade was a 31.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.13% of the stock is owned by company insiders.

Neogen Price Performance

NASDAQ:NEOG opened at $11.46 on Monday. The business’s 50-day moving average is $12.45 and its 200 day moving average is $14.63. The company has a current ratio of 3.77, a quick ratio of 2.46 and a debt-to-equity ratio of 0.33. Neogen Co. has a 12 month low of $10.72 and a 12 month high of $18.58.

Neogen (NASDAQ:NEOG) last posted its earnings results on Friday, January 10th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.12. Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. The firm had revenue of $231.30 million during the quarter, compared to the consensus estimate of $227.16 million. During the same period in the prior year, the company earned $0.11 EPS. The company’s quarterly revenue was up .7% compared to the same quarter last year. On average, research analysts expect that Neogen Co. will post 0.38 EPS for the current fiscal year.

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.