Teton Advisors Inc. Sells 12,340 Shares of Neogen Co. (NASDAQ:NEOG)

Teton Advisors Inc. cut its stake in Neogen Co. (NASDAQ:NEOG) by 5.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 199,660 shares of the company’s stock after selling 12,340 shares during the quarter. Neogen makes up about 1.3% of Teton Advisors Inc.’s portfolio, making the stock its 18th largest position. Teton Advisors Inc.’s holdings in Neogen were worth $4,015,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NEOG. Allspring Global Investments Holdings LLC grew its holdings in Neogen by 416.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,033 shares of the company’s stock valued at $56,000 after buying an additional 2,446 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in Neogen in the 3rd quarter worth approximately $151,000. Fifth Third Bancorp boosted its holdings in Neogen by 10.7% in the 3rd quarter. Fifth Third Bancorp now owns 9,967 shares of the company’s stock valued at $185,000 after purchasing an additional 966 shares during the period. Connable Office Inc. purchased a new position in shares of Neogen during the 4th quarter valued at $202,000. Finally, Savant Capital LLC raised its position in shares of Neogen by 9.4% in the third quarter. Savant Capital LLC now owns 10,320 shares of the company’s stock worth $191,000 after buying an additional 889 shares in the last quarter. 96.73% of the stock is currently owned by institutional investors.

Neogen Price Performance

Shares of NASDAQ:NEOG traded up $0.28 during trading on Monday, reaching $12.42. The company had a trading volume of 1,911,738 shares, compared to its average volume of 2,138,015. The company has a fifty day moving average of $14.81 and a two-hundred day moving average of $16.32. The company has a current ratio of 3.82, a quick ratio of 2.66 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $2.69 billion, a P/E ratio of 1,243.24 and a beta of 1.13. Neogen Co. has a 12 month low of $11.46 and a 12 month high of $24.09.

Neogen (NASDAQ:NEOG) last released its quarterly earnings results on Tuesday, April 9th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). Neogen had a net margin of 0.17% and a return on equity of 3.35%. The firm had revenue of $228.80 million for the quarter, compared to analysts’ expectations of $230.01 million. During the same quarter in the previous year, the business earned $0.12 EPS. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. Equities research analysts forecast that Neogen Co. will post 0.5 earnings per share for the current year.

Insider Buying and Selling

In other Neogen news, COO Douglas Edward Jones bought 10,000 shares of Neogen stock in a transaction that occurred on Wednesday, April 17th. The shares were bought at an average price of $12.36 per share, with a total value of $123,600.00. Following the acquisition, the chief operating officer now owns 46,131 shares in the company, valued at $570,179.16. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Douglas Edward Jones acquired 10,000 shares of the stock in a transaction on Wednesday, April 17th. The stock was purchased at an average price of $12.36 per share, for a total transaction of $123,600.00. Following the completion of the transaction, the chief operating officer now owns 46,131 shares of the company’s stock, valued at approximately $570,179.16. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James C. Borel acquired 7,500 shares of the company’s stock in a transaction dated Thursday, April 11th. The shares were bought at an average cost of $13.06 per share, with a total value of $97,950.00. Following the purchase, the director now owns 21,392 shares of the company’s stock, valued at approximately $279,379.52. The disclosure for this purchase can be found here. Insiders bought 53,000 shares of company stock worth $662,205 in the last quarter. 0.71% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

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.