Federated Hermes Inc. Sells 3,084 Shares of Neogen Co. (NASDAQ:NEOG)

Federated Hermes Inc. reduced its position in shares of Neogen Co. (NASDAQ:NEOG) by 16.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,562 shares of the company’s stock after selling 3,084 shares during the period. Federated Hermes Inc.’s holdings in Neogen were worth $313,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in NEOG. New York State Teachers Retirement System increased its position in Neogen by 29.1% in the 3rd quarter. New York State Teachers Retirement System now owns 126,506 shares of the company’s stock valued at $2,345,000 after acquiring an additional 28,507 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Neogen by 17.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,145 shares of the company’s stock valued at $763,000 after purchasing an additional 6,166 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Neogen by 4.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 98,392 shares of the company’s stock worth $1,824,000 after purchasing an additional 4,136 shares during the last quarter. Advisor Partners II LLC lifted its holdings in Neogen by 6.0% during the 3rd quarter. Advisor Partners II LLC now owns 19,622 shares of the company’s stock worth $364,000 after buying an additional 1,109 shares during the period. Finally, Inspire Advisors LLC bought a new stake in shares of Neogen in the 3rd quarter valued at about $610,000. Institutional investors and hedge funds own 96.73% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler lowered their price objective on Neogen from $19.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, April 15th.

Neogen Price Performance

Shares of NASDAQ NEOG opened at $12.02 on Friday. The company has a market capitalization of $2.60 billion, a PE ratio of 1,203.20 and a beta of 1.18. The company has a quick ratio of 2.66, a current ratio of 3.82 and a debt-to-equity ratio of 0.28. Neogen Co. has a twelve month low of $11.46 and a twelve month high of $24.09. The firm has a fifty day simple moving average of $14.41 and a 200 day simple moving average of $16.22.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings data on Tuesday, April 9th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.02). Neogen had a return on equity of 3.35% and a net margin of 0.17%. The business had revenue of $228.80 million during the quarter, compared to the consensus estimate of $230.01 million. During the same period last year, the business posted $0.12 earnings per share. The business’s revenue was up 4.8% on a year-over-year basis. On average, sell-side analysts forecast that Neogen Co. will post 0.46 EPS for the current year.

Insider Buying and Selling at Neogen

In related news, CFO David H. Naemura acquired 12,500 shares of the stock in a transaction dated Wednesday, April 10th. The stock was bought at an average price of $12.51 per share, for a total transaction of $156,375.00. Following the purchase, the chief financial officer now directly owns 30,040 shares of the company’s stock, valued at approximately $375,800.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO David H. Naemura bought 12,500 shares of Neogen stock in a transaction dated Wednesday, April 10th. The stock was bought at an average cost of $12.51 per share, for a total transaction of $156,375.00. Following the purchase, the chief financial officer now directly owns 30,040 shares in the company, valued at approximately $375,800.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John Edward Adent purchased 23,000 shares of the business’s stock in a transaction on Wednesday, April 10th. The stock was purchased at an average price of $12.36 per share, for a total transaction of $284,280.00. Following the acquisition, the chief executive officer now owns 152,389 shares of the company’s stock, valued at approximately $1,883,528.04. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 53,000 shares of company stock valued at $662,205. 0.71% of the stock is currently owned by company 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.