Neogen Co. (NASDAQ:NEOG) Shares Sold by Baillie Gifford & Co.

Baillie Gifford & Co. cut its stake in Neogen Co. (NASDAQ:NEOG) by 13.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,749,003 shares of the company’s stock after selling 1,478,216 shares during the quarter. Baillie Gifford & Co. owned approximately 4.49% of Neogen worth $118,353,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NEOG. Allspring Global Investments Holdings LLC lifted its stake in Neogen by 142.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company’s stock valued at $33,000 after buying an additional 1,165 shares in the last quarter. Blue Trust Inc. lifted its position in Neogen by 196.7% during the fourth quarter. Blue Trust Inc. now owns 3,368 shares of the company’s stock worth $41,000 after buying an additional 2,233 shares in the last quarter. Neo Ivy Capital Management purchased a new position in Neogen during the third quarter worth approximately $66,000. KBC Group NV increased its stake in Neogen by 39.1% during the fourth quarter. KBC Group NV now owns 8,464 shares of the company’s stock worth $103,000 after acquiring an additional 2,379 shares during the last quarter. Finally, Marco Investment Management LLC acquired a new stake in Neogen during the third quarter worth $169,000. 96.73% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Neogen

In other Neogen news, CEO John Edward Adent bought 23,035 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were purchased at an average price of $11.03 per share, with a total value of $254,076.05. Following the completion of the acquisition, the chief executive officer now directly owns 269,164 shares of the company’s stock, valued at approximately $2,968,878.92. The trade was a 9.36 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO David H. Naemura purchased 14,800 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were acquired at an average cost of $11.11 per share, for a total transaction of $164,428.00. Following the acquisition, the chief financial officer now owns 61,434 shares of the company’s stock, valued at approximately $682,531.74. The trade was a 31.74 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.13% of the company’s stock.

Neogen Stock Performance

NASDAQ NEOG opened at $9.83 on Tuesday. The company has a current ratio of 3.77, a quick ratio of 2.46 and a debt-to-equity ratio of 0.33. The business’s 50 day moving average is $11.71 and its two-hundred day moving average is $14.12. Neogen Co. has a 12-month low of $9.70 and a 12-month high of $18.58. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of -4.49 and a beta of 1.23.

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NEOG. Piper Sandler reissued a “neutral” rating and set a $13.00 target price (down previously from $16.50) on shares of Neogen in a research note on Tuesday, January 21st. Guggenheim began coverage on Neogen in a report on Thursday, December 19th. They issued a “buy” rating and a $15.00 target price for the company.

About Neogen

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.