Neogen Co. (NASDAQ:NEOG) Shares Bought by Champlain Investment Partners LLC

Champlain Investment Partners LLC increased its holdings in Neogen Co. (NASDAQ:NEOG) by 10.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,110,530 shares of the company’s stock after acquiring an additional 690,029 shares during the quarter. Champlain Investment Partners LLC’s holdings in Neogen were worth $119,528,000 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 NEOG. Vanguard Group Inc. raised its position in shares of Neogen by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 19,715,974 shares of the company’s stock valued at $311,118,000 after purchasing an additional 169,237 shares in the last quarter. Select Equity Group L.P. raised its holdings in Neogen by 23.1% in the second quarter. Select Equity Group L.P. now owns 15,530,439 shares of the company’s stock valued at $242,741,000 after acquiring an additional 2,914,893 shares in the last quarter. William Blair Investment Management LLC boosted its stake in Neogen by 64.7% during the 2nd quarter. William Blair Investment Management LLC now owns 12,013,072 shares of the company’s stock valued at $187,764,000 after acquiring an additional 4,717,696 shares during the last quarter. Conestoga Capital Advisors LLC grew its holdings in Neogen by 24.5% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 8,706,224 shares of the company’s stock worth $146,352,000 after acquiring an additional 1,711,238 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Neogen by 148.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,109,180 shares of the company’s stock worth $64,229,000 after purchasing an additional 2,454,566 shares during the last quarter. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Piper Sandler increased their price target on shares of Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. StockNews.com upgraded Neogen to a “sell” rating in a research report on Monday, September 30th.

Neogen Stock Performance

NEOG stock opened at $14.98 on Friday. Neogen Co. has a 1-year low of $11.46 and a 1-year high of $20.89. The firm has a fifty day moving average price of $15.23 and a two-hundred day moving average price of $15.52. The company has a current ratio of 4.41, a quick ratio of 2.79 and a debt-to-equity ratio of 0.28.

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

Insider Buying and Selling

In related news, CEO John Edward Adent bought 14,500 shares of the company’s stock in a transaction on Friday, October 11th. The shares were purchased at an average cost of $13.80 per share, with a total value of $200,100.00. Following the completion of the transaction, the chief executive officer now directly owns 216,477 shares of the company’s stock, valued at approximately $2,987,382.60. This represents a 7.18 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.13% of the company’s stock.

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.