Arizona State Retirement System Trims Stock Holdings in Neogen Co. (NASDAQ:NEOG)

Arizona State Retirement System trimmed its holdings in Neogen Co. (NASDAQ:NEOG) by 1.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 57,445 shares of the company’s stock after selling 1,041 shares during the quarter. Arizona State Retirement System’s holdings in Neogen were worth $1,155,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of NEOG. Steward Partners Investment Advisory LLC purchased a new position in Neogen during the 1st quarter worth $29,000. State of Tennessee Treasury Department purchased a new position in Neogen during the 1st quarter worth $45,000. International Assets Investment Management LLC purchased a new position in Neogen during the 3rd quarter worth $49,000. Allspring Global Investments Holdings LLC increased 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 worth $56,000 after purchasing an additional 2,446 shares during the period. Finally, First Manhattan CO. LLC. purchased a new position in Neogen during the 1st quarter worth $68,000. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO David H. Naemura purchased 12,500 shares of the business’s stock in a transaction dated Wednesday, April 10th. The shares were acquired at an average cost of $12.51 per share, for a total transaction of $156,375.00. Following the acquisition, the chief financial officer now owns 30,040 shares of the company’s stock, valued at approximately $375,800.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Neogen news, CFO David H. Naemura acquired 12,500 shares of the stock in a transaction dated Wednesday, April 10th. The stock was purchased at an average price of $12.51 per share, with a total value of $156,375.00. Following the transaction, the chief financial officer now directly owns 30,040 shares of the company’s stock, valued at $375,800.40. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO John Edward Adent acquired 23,000 shares of the stock in a transaction dated Wednesday, April 10th. The stock was acquired at an average cost of $12.36 per share, with a total value of $284,280.00. Following the transaction, the chief executive officer now directly owns 152,389 shares in the company, valued at $1,883,528.04. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 43,000 shares of company stock worth $538,605. 0.71% of the stock is currently owned by company insiders.

Neogen Trading Down 3.0 %

Shares of NASDAQ:NEOG opened at $12.01 on Tuesday. Neogen Co. has a 12-month low of $11.94 and a 12-month high of $24.09. The business’s fifty day simple moving average is $15.75 and its 200-day simple moving average is $16.65. The company has a market capitalization of $2.60 billion, a PE ratio of 1,202.20 and a beta of 1.13. The company has a current ratio of 3.82, a quick ratio of 2.66 and a debt-to-equity ratio of 0.28.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings results on Tuesday, April 9th. The company reported $0.12 earnings per share (EPS) 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 company had revenue of $228.80 million during the quarter, compared to analysts’ expectations of $230.01 million. During the same quarter in the prior year, the business posted $0.12 earnings per share. The company’s revenue was up 4.8% compared to the same quarter last year. As a group, equities research analysts predict that Neogen Co. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reduced their price objective on Neogen from $19.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday.

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.