Texas Permanent School Fund Corp Boosts Stock Holdings in Neogen Co. (NASDAQ:NEOG)

Texas Permanent School Fund Corp grew its position in shares of Neogen Co. (NASDAQ:NEOG) by 2.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 176,547 shares of the company’s stock after acquiring an additional 4,106 shares during the quarter. Texas Permanent School Fund Corp owned 0.08% of Neogen worth $2,759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Neogen by 67.5% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 616,190 shares of the company’s stock worth $9,723,000 after acquiring an additional 248,340 shares during the last quarter. Trigran Investments Inc. bought a new stake in shares of Neogen during the 4th quarter worth $12,048,000. SG Americas Securities LLC raised its stake in shares of Neogen by 277.1% during the 1st quarter. SG Americas Securities LLC now owns 45,558 shares of the company’s stock worth $719,000 after purchasing an additional 33,478 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Neogen by 73.4% during the 1st quarter. BNP Paribas Financial Markets now owns 115,830 shares of the company’s stock worth $1,828,000 after purchasing an additional 49,041 shares during the period. Finally, Connable Office Inc. bought a new stake in shares of Neogen during the 4th quarter worth $202,000. 96.73% of the stock is owned by hedge funds and other institutional investors.

Neogen Trading Up 4.1 %

Shares of Neogen stock 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 stock’s 50-day simple moving average is $16.47 and its 200 day simple moving average is $15.18. The stock has a market capitalization of $3.49 billion, a P/E ratio of 1,613.00 and a beta of 1.21. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.59 and a current ratio of 3.82.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.10 earnings per share (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 during the quarter, compared to the consensus estimate of $225.83 million. During the same quarter in the prior year, the firm posted $0.14 earnings per share. The company’s revenue was down 2.1% on a year-over-year basis. As a group, research analysts anticipate that Neogen Co. will post 0.54 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insider Activity at Neogen

In other news, Director James P. Tobin acquired 3,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average cost of $16.86 per share, for a total transaction of $50,580.00. Following the purchase, the director now owns 23,392 shares of the company’s stock, valued at approximately $394,389.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.71% of the stock is currently owned by company insiders.

Neogen 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.