Baillie Gifford & Co. Reduces Stock Holdings in Neogen Co. (NASDAQ:NEOG)

Baillie Gifford & Co. lowered its holdings in shares of Neogen Co. (NASDAQ:NEOG) by 3.1% in the third quarter, HoldingsChannel.com reports. The fund owned 11,227,219 shares of the company’s stock after selling 353,767 shares during the quarter. Baillie Gifford & Co. owned about 0.05% of Neogen worth $188,730,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NEOG. Atria Investments Inc raised its position in shares of Neogen by 29.6% during the 3rd quarter. Atria Investments Inc now owns 32,417 shares of the company’s stock worth $545,000 after purchasing an additional 7,408 shares during the last quarter. WoodTrust Financial Corp grew its holdings in Neogen by 19.2% in the 3rd quarter. WoodTrust Financial Corp now owns 55,925 shares of the company’s stock valued at $940,000 after buying an additional 9,000 shares during the period. American Capital Advisory LLC acquired a new position in Neogen during the third quarter worth approximately $228,000. QRG Capital Management Inc. increased its holdings in shares of Neogen by 26.7% during the 3rd quarter. QRG Capital Management Inc. now owns 19,223 shares of the company’s stock worth $323,000 after buying an additional 4,049 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of 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 during the period. Institutional investors and hedge funds own 96.73% of the company’s stock.

Analyst Upgrades and Downgrades

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

Neogen Trading Up 1.0 %

NASDAQ:NEOG opened at $16.40 on Tuesday. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of -149.09 and a beta of 1.23. Neogen Co. has a one year low of $11.46 and a one year high of $20.89. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.79 and a current ratio of 4.41. The business’s 50-day simple moving average is $15.37 and its 200 day simple moving average is $15.40.

Neogen (NASDAQ:NEOG) last announced its earnings results on Thursday, October 10th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). Neogen had a negative net margin of 2.58% and a positive return on equity of 2.80%. The business had revenue of $217.00 million during the quarter, compared to analyst estimates of $215.05 million. During the same period in the previous year, the company earned $0.11 earnings per share. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. As a group, sell-side analysts predict that Neogen Co. will post 0.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Neogen

In related news, CEO John Edward Adent bought 14,500 shares of the company’s stock in a transaction dated Friday, October 11th. The stock was bought at an average price of $13.80 per share, with a total value of $200,100.00. Following the transaction, 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 1.13% of the stock is currently owned by insiders.

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.