Neogen Co. (NASDAQ:NEOG) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. decreased its holdings in Neogen Co. (NASDAQ:NEOG) by 22.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 100,413 shares of the company’s stock after selling 29,676 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Neogen were worth $1,219,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Citigroup Inc. increased its holdings in Neogen by 129.1% during the 3rd quarter. Citigroup Inc. now owns 231,833 shares of the company’s stock worth $3,897,000 after purchasing an additional 130,641 shares during the last quarter. American Capital Management Inc. increased its stake in shares of Neogen by 36.5% in the third quarter. American Capital Management Inc. now owns 3,414,700 shares of the company’s stock worth $57,401,000 after buying an additional 913,604 shares during the last quarter. State Street Corp raised its holdings in Neogen by 3.1% in the third quarter. State Street Corp now owns 7,932,192 shares of the company’s stock valued at $133,340,000 after acquiring an additional 236,762 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Neogen by 17.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,166 shares of the company’s stock valued at $642,000 after acquiring an additional 5,804 shares in the last quarter. Finally, Barclays PLC grew its holdings in 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 acquiring an additional 207,160 shares in the last quarter. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Insider Activity at Neogen

In other Neogen news, CEO John Edward Adent purchased 23,035 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were purchased 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 owns 269,164 shares in the company, valued at $2,968,878.92. The trade was a 9.36 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David H. Naemura bought 14,800 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was acquired at an average price of $11.11 per share, for a total transaction of $164,428.00. Following the completion of the acquisition, the chief financial officer now directly owns 61,434 shares in the company, valued at approximately $682,531.74. This represents 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 insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NEOG shares. Guggenheim initiated coverage on shares of Neogen in a research note on Thursday, December 19th. They issued a “buy” rating and a $15.00 target price on the stock. Piper Sandler restated a “neutral” rating and set a $13.00 price objective (down previously from $16.50) on shares of Neogen in a research note on Tuesday, January 21st.

Neogen Trading Down 6.4 %

Neogen stock opened at $9.41 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.46 and a current ratio of 3.77. The firm’s 50-day moving average is $11.29 and its 200-day moving average is $13.67. Neogen Co. has a 1 year low of $9.39 and a 1 year high of $18.58. The company has a market cap of $2.04 billion, a P/E ratio of -4.30 and a beta of 1.23.

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