Neogen Co. (NASDAQ:NEOG) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System decreased its position in shares of Neogen Co. (NASDAQ:NEOG) by 6.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 300,675 shares of the company’s stock after selling 19,737 shares during the quarter. California Public Employees Retirement System’s holdings in Neogen were worth $6,047,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in NEOG. New York State Teachers Retirement System grew its stake in shares of Neogen by 29.1% during the 3rd quarter. New York State Teachers Retirement System now owns 126,506 shares of the company’s stock worth $2,345,000 after purchasing an additional 28,507 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Neogen by 17.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,145 shares of the company’s stock valued at $763,000 after buying an additional 6,166 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Neogen by 4.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 98,392 shares of the company’s stock valued at $1,824,000 after buying an additional 4,136 shares in the last quarter. Advisor Partners II LLC lifted its position in shares of Neogen by 6.0% during the 3rd quarter. Advisor Partners II LLC now owns 19,622 shares of the company’s stock valued at $364,000 after buying an additional 1,109 shares in the last quarter. Finally, Inspire Advisors LLC purchased a new position in shares of Neogen during the 3rd quarter valued at approximately $610,000. Institutional investors and hedge funds own 96.73% of the company’s stock.

Insider Buying and Selling at Neogen

In other news, CEO John Edward Adent acquired 23,000 shares of the firm’s stock in a transaction on Wednesday, April 10th. The shares were bought at an average price of $12.36 per share, for a total transaction of $284,280.00. Following the acquisition, the chief executive officer now owns 152,389 shares of the company’s stock, valued at approximately $1,883,528.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO John Edward Adent acquired 23,000 shares of the firm’s stock in a transaction on Wednesday, April 10th. The shares were bought at an average price of $12.36 per share, for a total transaction of $284,280.00. Following the acquisition, the chief executive officer now owns 152,389 shares of the company’s stock, valued at approximately $1,883,528.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James C. Borel acquired 7,500 shares of the firm’s stock in a transaction on Thursday, April 11th. The stock was purchased at an average price of $13.06 per share, for a total transaction of $97,950.00. Following the acquisition, the director now directly owns 21,392 shares in the company, valued at approximately $279,379.52. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 53,000 shares of company stock worth $662,205. Corporate insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler decreased their target price on Neogen from $19.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, April 15th.

Neogen Trading Down 3.5 %

Shares of NASDAQ:NEOG opened at $12.02 on Friday. Neogen Co. has a 1 year low of $11.46 and a 1 year high of $24.09. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of 1,203.20 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.82 and a quick ratio of 2.66. The business’s 50 day moving average price is $14.41 and its 200-day moving average price is $16.22.

Neogen (NASDAQ:NEOG) last announced its 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). The business had revenue of $228.80 million for the quarter, compared to analysts’ expectations of $230.01 million. Neogen had a net margin of 0.17% and a return on equity of 3.35%. The company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the business earned $0.12 EPS. On average, equities research analysts forecast that Neogen Co. will post 0.46 earnings per share 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.