Linden Thomas Advisory Services LLC Sells 829 Shares of Neogen Co. (NASDAQ:NEOG)

Linden Thomas Advisory Services LLC trimmed its stake in Neogen Co. (NASDAQ:NEOG) by 1.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,159 shares of the company’s stock after selling 829 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Neogen were worth $1,431,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. New York State Common Retirement Fund lifted its stake in shares of Neogen by 5.1% in the 4th quarter. New York State Common Retirement Fund now owns 1,469,375 shares of the company’s stock valued at $29,549,000 after purchasing an additional 70,815 shares during the last quarter. OLD National Bancorp IN lifted its stake in shares of Neogen by 28.2% in the 4th quarter. OLD National Bancorp IN now owns 16,400 shares of the company’s stock valued at $330,000 after purchasing an additional 3,605 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in shares of Neogen by 45.7% in the 4th quarter. Handelsbanken Fonder AB now owns 57,664 shares of the company’s stock valued at $1,160,000 after purchasing an additional 18,100 shares during the last quarter. Mackenzie Financial Corp lifted its stake in shares of Neogen by 9.3% in the 4th quarter. Mackenzie Financial Corp now owns 5,868,784 shares of the company’s stock valued at $118,021,000 after purchasing an additional 497,856 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Neogen by 1.3% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 80,581 shares of the company’s stock valued at $1,620,000 after purchasing an additional 1,066 shares during the last quarter. 96.73% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Neogen news, CFO David H. Naemura purchased 12,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The stock was purchased at an average cost of $12.51 per share, with a total value of $156,375.00. Following the purchase, the chief financial officer now owns 30,040 shares of the company’s stock, valued at $375,800.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO David H. Naemura acquired 12,500 shares of Neogen stock in a transaction on Wednesday, April 10th. The shares were bought at an average cost of $12.51 per share, for a total transaction of $156,375.00. Following the acquisition, the chief financial officer now directly owns 30,040 shares of the company’s stock, valued at approximately $375,800.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John Edward Adent acquired 23,000 shares of Neogen stock in a transaction on Wednesday, April 10th. The shares were purchased at an average price of $12.36 per share, for a total transaction of $284,280.00. Following the completion of the acquisition, the chief executive officer now directly owns 152,389 shares in the company, valued at $1,883,528.04. The disclosure for this purchase can be found here. In the last three months, insiders acquired 53,000 shares of company stock valued at $662,205. Insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler lowered their price objective on Neogen from $19.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, April 15th.

Neogen Trading Down 0.2 %

Shares of NEOG stock traded down $0.03 on Wednesday, reaching $12.28. 1,040,069 shares of the company’s stock were exchanged, compared to its average volume of 2,123,069. Neogen Co. has a 52 week low of $11.46 and a 52 week high of $24.09. The company has a current ratio of 3.82, a quick ratio of 2.66 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $2.66 billion, a PE ratio of 1,232.23 and a beta of 1.13. The company’s fifty day simple moving average is $15.22 and its 200 day simple moving average is $16.42.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings results on Tuesday, April 9th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). Neogen had a return on equity of 3.35% and a net margin of 0.17%. The business had revenue of $228.80 million for the quarter, compared to the consensus estimate of $230.01 million. During the same period in the prior year, the business posted $0.12 earnings per share. Neogen’s revenue was up 4.8% on a year-over-year basis. As a group, analysts forecast that Neogen Co. will post 0.5 EPS 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.