Neogen Co. (NASDAQ:NEOG) Holdings Raised by New York State Teachers Retirement System

New York State Teachers Retirement System grew its position in Neogen Co. (NASDAQ:NEOG) by 1.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 128,491 shares of the company’s stock after buying an additional 1,985 shares during the period. New York State Teachers Retirement System’s holdings in Neogen were worth $2,584,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Steward Partners Investment Advisory LLC bought a new stake in shares of Neogen in the 1st quarter valued at approximately $29,000. State of Tennessee Treasury Department bought a new stake in shares of Neogen in the 1st quarter valued at approximately $45,000. International Assets Investment Management LLC bought a new position in Neogen during the 3rd quarter worth $49,000. Allspring Global Investments Holdings LLC grew its stake 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 buying an additional 2,446 shares during the last quarter. Finally, First Manhattan CO. LLC. bought a new position in Neogen during the 1st quarter worth $68,000. 96.73% of the stock is currently owned by institutional investors.

Neogen Price Performance

Shares of NEOG opened at $12.01 on Tuesday. The company has a market cap of $2.60 billion, a P/E ratio of 1,202.20 and a beta of 1.13. The stock has a fifty day moving average price of $15.75 and a 200 day moving average price of $16.65. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.82 and a quick ratio of 2.66. Neogen Co. has a 12 month low of $11.94 and a 12 month high of $24.09.

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

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lowered their price objective on Neogen from $19.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday.

Insider Transactions at Neogen

In other Neogen news, Director James C. Borel purchased 7,500 shares of the firm’s stock in a transaction dated Thursday, April 11th. The stock was bought at an average price of $13.06 per share, with a total value of $97,950.00. Following the completion of the purchase, the director now owns 21,392 shares in the company, valued at approximately $279,379.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Neogen news, Director James C. Borel purchased 7,500 shares of the firm’s stock in a transaction dated Thursday, April 11th. The stock was bought at an average price of $13.06 per share, with a total value of $97,950.00. Following the completion of the purchase, the director now owns 21,392 shares in the company, valued at approximately $279,379.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO David H. Naemura purchased 12,500 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was acquired at an average cost of $12.51 per share, with a total value of $156,375.00. Following the purchase, the chief financial officer now owns 30,040 shares of the company’s stock, valued at approximately $375,800.40. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 43,000 shares of company stock valued at $538,605. 0.71% of the stock is currently owned by corporate insiders.

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.