Glenmede Trust Co. NA Has $16.02 Million Holdings in Neogen Co. (NASDAQ:NEOG)

Glenmede Trust Co. NA lessened its stake in shares of Neogen Co. (NASDAQ:NEOG) by 0.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 953,137 shares of the company’s stock after selling 4,068 shares during the quarter. Glenmede Trust Co. NA’s holdings in Neogen were worth $16,022,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its position in Neogen by 142.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company’s stock worth $33,000 after purchasing an additional 1,165 shares during the period. Innealta Capital LLC acquired a new stake in shares of Neogen in the second quarter worth $46,000. Headlands Technologies LLC boosted its holdings in shares of Neogen by 264.1% during the 2nd quarter. Headlands Technologies LLC now owns 3,397 shares of the company’s stock worth $53,000 after buying an additional 2,464 shares during the period. Family Firm Inc. acquired a new position in Neogen in the 2nd quarter valued at $90,000. Finally, Quantum Private Wealth LLC bought a new position in Neogen in the 2nd quarter worth $156,000. Institutional investors and hedge funds own 96.73% of the company’s stock.

Analysts Set New Price Targets

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

Insider Transactions at Neogen

In other Neogen news, CEO John Edward Adent acquired 14,500 shares of the company’s stock in a transaction dated Friday, October 11th. The stock was bought at an average price of $13.80 per share, for a total transaction of $200,100.00. Following the purchase, the chief executive officer now owns 216,477 shares in the company, valued at $2,987,382.60. This represents a 7.18 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.13% of the stock is owned by insiders.

Neogen Stock Down 0.2 %

Shares of Neogen stock opened at $14.14 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 firm has a fifty day moving average price of $15.09 and a two-hundred day moving average price of $15.59. Neogen Co. has a fifty-two week low of $11.46 and a fifty-two week high of $20.89.

Neogen (NASDAQ:NEOG) last released its earnings results on Thursday, October 10th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.03). Neogen had a negative net margin of 2.58% and a positive return on equity of 2.80%. The company had revenue of $217.00 million during the quarter, compared to the consensus estimate of $215.05 million. During the same quarter in the previous year, the business posted $0.11 EPS. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. Equities analysts anticipate that Neogen Co. will post 0.5 EPS for the current year.

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.