Public Employees Retirement Association of Colorado Sells 1,073 Shares of Neogen Co. (NASDAQ:NEOG)

Public Employees Retirement Association of Colorado reduced its stake in shares of Neogen Co. (NASDAQ:NEOG) by 0.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 658,532 shares of the company’s stock after selling 1,073 shares during the period. Public Employees Retirement Association of Colorado owned 0.30% of Neogen worth $10,293,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in NEOG. Inspire Investing LLC boosted its position in Neogen by 2.7% during the second quarter. Inspire Investing LLC now owns 26,074 shares of the company’s stock valued at $408,000 after acquiring an additional 685 shares during the last quarter. Northwest Investment Counselors LLC lifted its stake in Neogen by 1.1% in the first quarter. Northwest Investment Counselors LLC now owns 71,621 shares of the company’s stock valued at $1,130,000 after buying an additional 809 shares during the period. Bessemer Group Inc. grew its position in shares of Neogen by 1.2% during the 1st quarter. Bessemer Group Inc. now owns 73,920 shares of the company’s stock worth $1,166,000 after buying an additional 851 shares during the period. Retirement Systems of Alabama increased its stake in shares of Neogen by 0.4% in the 1st quarter. Retirement Systems of Alabama now owns 247,423 shares of the company’s stock valued at $3,904,000 after acquiring an additional 889 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in shares of Neogen by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 57,609 shares of the company’s stock valued at $900,000 after acquiring an additional 1,079 shares during the period. Institutional investors own 96.73% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Piper Sandler upped their price objective on shares of Neogen from $17.00 to $17.50 and gave the company a “neutral” rating in a report on Tuesday, August 6th. StockNews.com upgraded Neogen to a “sell” rating in a report on Friday, September 13th.

Neogen Stock Down 0.4 %

Shares of NASDAQ NEOG opened at $17.46 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.82 and a quick ratio of 2.59. The company has a 50-day moving average price of $16.63 and a 200-day moving average price of $15.19. The stock has a market capitalization of $3.78 billion, a P/E ratio of 1,746.00 and a beta of 1.21. Neogen Co. has a 1 year low of $11.46 and a 1 year high of $20.89.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). The company had revenue of $236.80 million for the quarter, compared to the consensus estimate of $225.83 million. Neogen had a positive return on equity of 3.09% and a negative net margin of 1.02%. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.14 earnings per share. On average, equities research analysts forecast that Neogen Co. will post 0.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director James P. Tobin purchased 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were bought at an average cost of $16.86 per share, with a total value of $50,580.00. Following the completion of the transaction, the director now directly owns 23,392 shares of the company’s stock, valued at $394,389.12. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.71% of the company’s stock.

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.