Champlain Investment Partners LLC Grows Holdings in Neogen Co. (NASDAQ:NEOG)

Champlain Investment Partners LLC lifted its position in shares of Neogen Co. (NASDAQ:NEOG) by 10.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,110,530 shares of the company’s stock after buying an additional 690,029 shares during the quarter. Champlain Investment Partners LLC owned approximately 3.28% of Neogen worth $119,528,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Inspire Investing LLC grew its stake in Neogen by 2.7% in the 2nd quarter. Inspire Investing LLC now owns 26,074 shares of the company’s stock worth $408,000 after acquiring an additional 685 shares during the period. Bessemer Group Inc. increased its stake in Neogen by 1.2% in the first quarter. Bessemer Group Inc. now owns 73,920 shares of the company’s stock valued at $1,166,000 after purchasing an additional 851 shares during the last quarter. Stephens Inc. AR lifted its position in Neogen by 2.6% during the third quarter. Stephens Inc. AR now owns 35,930 shares of the company’s stock worth $604,000 after buying an additional 909 shares during the period. Arizona State Retirement System boosted its stake in Neogen by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 57,609 shares of the company’s stock worth $900,000 after buying an additional 1,079 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings 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 during the period. Institutional investors and hedge funds own 96.73% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Neogen to a “sell” rating in a report on Monday, September 30th. Piper Sandler increased their price target on shares of Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th.

Insider Transactions at Neogen

In related news, CEO John Edward Adent purchased 14,500 shares of Neogen stock in a transaction that occurred on Friday, October 11th. The shares were purchased at an average cost of $13.80 per share, with a total value of $200,100.00. Following the transaction, the chief executive officer now owns 216,477 shares of the company’s stock, valued at approximately $2,987,382.60. The trade was a 7.18 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.13% of the company’s stock.

Neogen Stock Performance

NEOG stock opened at $14.98 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.41 and a quick ratio of 2.79. The stock has a 50-day moving average price of $15.23 and a two-hundred day moving average price of $15.52. Neogen Co. has a 12-month low of $11.46 and a 12-month high of $20.89.

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). Neogen had a positive return on equity of 2.80% and a negative net margin of 2.58%. The firm had revenue of $217.00 million for the quarter, compared to analysts’ expectations of $215.05 million. During the same quarter in the previous year, the firm posted $0.11 EPS. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. Sell-side analysts expect that Neogen Co. will post 0.5 EPS for the current fiscal year.

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.