Choreo LLC Makes New $437,000 Investment in Neogen Co. (NASDAQ:NEOG)

Choreo LLC bought a new position in Neogen Co. (NASDAQ:NEOG) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 29,019 shares of the company’s stock, valued at approximately $437,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Arizona State Retirement System grew its stake in Neogen by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 57,609 shares of the company’s stock worth $900,000 after acquiring an additional 1,079 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Neogen by 26.5% during the second quarter. Victory Capital Management Inc. now owns 495,028 shares of the company’s stock valued at $7,737,000 after purchasing an additional 103,815 shares in the last quarter. TD Asset Management Inc boosted its stake in shares of Neogen by 14.1% during the second quarter. TD Asset Management Inc now owns 160,316 shares of the company’s stock valued at $2,506,000 after purchasing an additional 19,800 shares in the last quarter. Roubaix Capital LLC boosted its stake in shares of Neogen by 160.4% during the second quarter. Roubaix Capital LLC now owns 288,427 shares of the company’s stock valued at $4,508,000 after purchasing an additional 177,646 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Neogen by 0.3% during the second quarter. Rhumbline Advisers now owns 715,254 shares of the company’s stock valued at $11,179,000 after purchasing an additional 1,860 shares in the last quarter. 96.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NEOG. Piper Sandler increased their price objective on shares of Neogen from $17.00 to $17.50 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. StockNews.com upgraded shares of Neogen to a “sell” rating in a research note on Friday.

Insiders Place Their Bets

In related news, Director James P. Tobin purchased 3,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was acquired at an average price of $16.86 per share, with a total value of $50,580.00. Following the completion of the acquisition, the director now owns 23,392 shares in the company, valued at approximately $394,389.12. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.71% of the company’s stock.

Neogen Trading Up 4.1 %

NASDAQ:NEOG opened at $16.13 on Monday. Neogen Co. has a 52 week low of $11.46 and a 52 week high of $21.88. The firm has a 50 day moving average of $16.47 and a 200 day moving average of $15.18. The company has a quick ratio of 2.59, a current ratio of 3.82 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of 1,613.00 and a beta of 1.21.

Neogen (NASDAQ:NEOG) last posted its earnings results on Tuesday, July 30th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). Neogen had a negative net margin of 1.02% and a positive return on equity of 3.09%. The firm had revenue of $236.80 million for the quarter, compared to analysts’ expectations of $225.83 million. During the same period in the previous year, the company earned $0.14 EPS. The company’s revenue was down 2.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Neogen Co. will post 0.54 earnings per share for the current fiscal 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.