Baillie Gifford & Co. Sells 1,478,216 Shares of Neogen Co. (NASDAQ:NEOG)

Baillie Gifford & Co. decreased its stake in shares of Neogen Co. (NASDAQ:NEOG) by 13.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 9,749,003 shares of the company’s stock after selling 1,478,216 shares during the quarter. Baillie Gifford & Co.’s holdings in Neogen were worth $118,353,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Conestoga Capital Advisors LLC increased its stake in Neogen by 24.5% in the third quarter. Conestoga Capital Advisors LLC now owns 8,706,224 shares of the company’s stock valued at $146,352,000 after acquiring an additional 1,711,238 shares during the period. State Street Corp boosted its position in Neogen by 3.1% in the third quarter. State Street Corp now owns 7,932,192 shares of the company’s stock valued at $133,340,000 after buying an additional 236,762 shares in the last quarter. Bamco Inc. NY boosted its position in Neogen by 1.4% in the third quarter. Bamco Inc. NY now owns 7,303,115 shares of the company’s stock valued at $122,765,000 after buying an additional 98,067 shares in the last quarter. Champlain Investment Partners LLC lifted its position in shares of Neogen by 10.7% during the third quarter. Champlain Investment Partners LLC now owns 7,110,530 shares of the company’s stock worth $119,528,000 after purchasing an additional 690,029 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Neogen by 0.4% during the third quarter. Geode Capital Management LLC now owns 5,148,388 shares of the company’s stock worth $86,559,000 after purchasing an additional 20,387 shares in the last quarter. Institutional investors own 96.73% of the company’s stock.

Wall Street Analyst Weigh In

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

Neogen Stock Down 0.9 %

Shares of NEOG stock opened at $9.83 on Tuesday. The firm has a fifty day moving average of $11.71 and a 200-day moving average of $14.12. The company has a quick ratio of 2.46, a current ratio of 3.77 and a debt-to-equity ratio of 0.33. Neogen Co. has a 12-month low of $9.70 and a 12-month high of $18.58. The company 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 issued its quarterly earnings data on Friday, January 10th. The company reported $0.11 earnings per share (EPS) 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 the consensus estimate of $227.16 million. During the same quarter in the prior year, the firm earned $0.11 earnings per share. The firm’s revenue was up .7% compared to the same quarter last year. As a group, equities research analysts predict that Neogen Co. will post 0.38 earnings per share for the current fiscal year.

Insider Buying and Selling

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

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.