Linden Thomas Advisory Services LLC Sells 1,560 Shares of Neogen Co. (NASDAQ:NEOG)

Linden Thomas Advisory Services LLC decreased its stake in Neogen Co. (NASDAQ:NEOG) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,565 shares of the company’s stock after selling 1,560 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Neogen were worth $869,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NEOG. Fred Alger Management LLC lifted its stake in Neogen by 86.5% in the 3rd quarter. Fred Alger Management LLC now owns 3,986,744 shares of the company’s stock valued at $67,017,000 after purchasing an additional 1,849,427 shares during the last quarter. Conestoga Capital Advisors LLC lifted its stake in Neogen by 24.5% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 8,706,224 shares of the company’s stock valued at $146,352,000 after purchasing an additional 1,711,238 shares during the last quarter. Millennium Management LLC acquired a new position in Neogen in the 2nd quarter valued at approximately $19,338,000. American Capital Management Inc. increased its position in Neogen by 36.5% in the 3rd quarter. American Capital Management Inc. now owns 3,414,700 shares of the company’s stock valued at $57,401,000 after acquiring an additional 913,604 shares during the period. Finally, Champlain Investment Partners LLC increased its position in Neogen by 10.7% in the 3rd quarter. Champlain Investment Partners LLC now owns 7,110,530 shares of the company’s stock valued at $119,528,000 after acquiring an additional 690,029 shares during the period. Institutional investors own 96.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on NEOG shares. Guggenheim started coverage on shares of Neogen in a research report on Thursday, December 19th. They issued a “buy” rating and a $15.00 price target for the company. Piper Sandler restated a “neutral” rating and issued a $13.00 price target (down from $16.50) on shares of Neogen in a research report on Tuesday, January 21st. Finally, StockNews.com upgraded shares of Neogen to a “sell” rating in a research report on Monday, September 30th.

Insider Transactions at Neogen

In related news, CEO John Edward Adent bought 23,035 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were acquired at an average cost of $11.03 per share, with a total value of $254,076.05. Following the completion of the purchase, the chief executive officer now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO David H. Naemura bought 14,800 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were bought at an average cost of $11.11 per share, for a total transaction of $164,428.00. Following the completion of the purchase, the chief financial officer now owns 61,434 shares of the company’s stock, valued at $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 currently owned by corporate insiders.

Neogen Trading Down 2.3 %

NEOG opened at $11.47 on Monday. Neogen Co. has a twelve month low of $10.72 and a twelve month high of $18.58. The company has a quick ratio of 2.46, a current ratio of 3.77 and a debt-to-equity ratio of 0.33. The company has a fifty day moving average of $12.79 and a 200-day moving average of $14.82. The stock has a market cap of $2.49 billion, a PE ratio of -5.24 and a beta of 1.23.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings data on Friday, January 10th. The company reported $0.11 earnings per share for the quarter, topping 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 analysts’ expectations of $227.16 million. During the same period in the prior year, the company posted $0.11 earnings per share. Neogen’s revenue for the quarter was up .7% compared to the same quarter last year. On average, sell-side analysts predict that Neogen Co. will post 0.41 EPS for the current year.

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.