Northwest Investment Counselors LLC Has $1.42 Million Stake in Neogen Co. (NASDAQ:NEOG)

Northwest Investment Counselors LLC lowered its stake in shares of Neogen Co. (NASDAQ:NEOG) by 5.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 70,812 shares of the company’s stock after selling 4,055 shares during the period. Northwest Investment Counselors LLC’s holdings in Neogen were worth $1,424,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC purchased a new position in shares of Neogen in the 1st quarter worth approximately $29,000. State of Tennessee Treasury Department purchased a new position in Neogen in the first quarter valued at approximately $45,000. International Assets Investment Management LLC purchased a new position in Neogen in the third quarter valued at approximately $49,000. Allspring Global Investments Holdings LLC lifted its stake in Neogen by 416.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,033 shares of the company’s stock valued at $56,000 after purchasing an additional 2,446 shares during the last quarter. Finally, First Manhattan CO. LLC. purchased a new position in Neogen in the first quarter valued at approximately $68,000. Institutional investors and hedge funds own 96.73% of the company’s stock.

Neogen Price Performance

NASDAQ:NEOG traded up $0.32 during midday trading on Friday, hitting $15.78. The company had a trading volume of 1,275,580 shares, compared to its average volume of 1,317,052. Neogen Co. has a 52-week low of $14.44 and a 52-week high of $24.09. The stock’s fifty day moving average price is $16.28 and its 200-day moving average price is $17.17. The company has a market capitalization of $3.42 billion, a PE ratio of 263.04 and a beta of 1.14. The company has a quick ratio of 2.63, a current ratio of 3.54 and a debt-to-equity ratio of 0.28.

Neogen (NASDAQ:NEOG) last announced its earnings results on Tuesday, January 9th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.08. Neogen had a net margin of 1.28% and a return on equity of 3.35%. The company had revenue of $229.60 million during the quarter, compared to analyst estimates of $232.85 million. During the same period in the previous year, the business earned $0.15 earnings per share. The firm’s quarterly revenue was down .2% compared to the same quarter last year. As a group, research analysts expect that Neogen Co. will post 0.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Piper Sandler upped their price objective on Neogen from $17.50 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, January 18th.

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.