McCollum Christoferson Group LLC Acquires 2,142 Shares of Neogen Co. (NASDAQ:NEOG)

McCollum Christoferson Group LLC lifted its holdings in shares of Neogen Co. (NASDAQ:NEOG) by 0.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 258,304 shares of the company’s stock after purchasing an additional 2,142 shares during the period. McCollum Christoferson Group LLC owned 0.12% of Neogen worth $4,342,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Neogen by 0.9% in the first quarter. Vanguard Group Inc. now owns 19,715,974 shares of the company’s stock worth $311,118,000 after acquiring an additional 169,237 shares during the last quarter. Select Equity Group L.P. raised its position in Neogen by 23.1% in the 2nd quarter. Select Equity Group L.P. now owns 15,530,439 shares of the company’s stock worth $242,741,000 after purchasing an additional 2,914,893 shares during the last quarter. William Blair Investment Management LLC lifted its holdings 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 worth $187,764,000 after buying an additional 4,717,696 shares in the last quarter. Baillie Gifford & Co. boosted its position in Neogen by 42.3% in the 1st quarter. Baillie Gifford & Co. now owns 11,789,521 shares of the company’s stock valued at $186,039,000 after buying an additional 3,502,807 shares during the last quarter. Finally, Bamco Inc. NY increased its stake in shares of Neogen by 10.3% in the 1st quarter. Bamco Inc. NY now owns 7,304,967 shares of the company’s stock valued at $115,272,000 after buying an additional 680,668 shares during the period. Institutional investors own 96.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NEOG. StockNews.com raised Neogen to a “sell” rating in a research note on Monday, September 30th. Piper Sandler boosted their price objective on Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a report on Tuesday, August 6th.

Neogen Stock Performance

Shares of Neogen stock opened at $14.61 on Thursday. Neogen Co. has a 52 week low of $11.46 and a 52 week high of $20.89. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.59 and a current ratio of 3.82. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 1,461.00 and a beta of 1.21. The firm has a fifty day moving average of $16.10 and a two-hundred day moving average of $15.17.

Neogen (NASDAQ:NEOG) last issued 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). The company had revenue of $217.00 million for the quarter, compared to the consensus estimate of $215.05 million. Neogen had a positive return on equity of 3.09% and a negative net margin of 1.02%. Neogen’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the business posted $0.11 EPS. As a group, equities research analysts predict that Neogen Co. will post 0.54 EPS for the current year.

Insider Buying and Selling at Neogen

In other news, Director James P. Tobin purchased 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was bought at an average price of $16.86 per share, with a total value of $50,580.00. Following the acquisition, the director now directly owns 23,392 shares of the company’s stock, valued at approximately $394,389.12. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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, for a total transaction of $200,100.00. Following the acquisition, the chief executive officer now owns 216,477 shares of the company’s stock, valued at approximately $2,987,382.60. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James P. Tobin purchased 3,000 shares of Neogen stock in a transaction dated Tuesday, August 6th. The stock was bought at an average price of $16.86 per share, with a total value of $50,580.00. Following the acquisition, the director now directly owns 23,392 shares of the company’s stock, valued at approximately $394,389.12. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.71% of the company’s stock.

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.