Neogen Co. (NASDAQ:NEOG) Shares Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC boosted its holdings in Neogen Co. (NASDAQ:NEOG) by 1,581.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,666 shares of the company’s stock after purchasing an additional 10,972 shares during the quarter. International Assets Investment Management LLC’s holdings in Neogen were worth $196,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in NEOG. Vanguard Group Inc. lifted its holdings in shares of Neogen by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 19,715,974 shares of the company’s stock worth $311,118,000 after acquiring an additional 169,237 shares during the period. Select Equity Group L.P. raised its stake in Neogen by 23.1% during the second quarter. Select Equity Group L.P. now owns 15,530,439 shares of the company’s stock worth $242,741,000 after purchasing an additional 2,914,893 shares during the period. William Blair Investment Management LLC raised its stake in Neogen by 64.7% during the second quarter. William Blair Investment Management LLC now owns 12,013,072 shares of the company’s stock worth $187,764,000 after purchasing an additional 4,717,696 shares during the period. Bamco Inc. NY boosted its holdings in shares of Neogen by 10.3% in the 1st quarter. Bamco Inc. NY now owns 7,304,967 shares of the company’s stock valued at $115,272,000 after purchasing an additional 680,668 shares during the last quarter. Finally, Conestoga Capital Advisors LLC grew its stake in shares of Neogen by 1.9% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 6,994,986 shares of the company’s stock valued at $109,332,000 after buying an additional 129,945 shares during the period. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Neogen

In related news, CEO John Edward Adent bought 14,500 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was bought at an average price of $13.80 per share, with a total value of $200,100.00. Following the completion of the transaction, the chief executive officer now directly owns 216,477 shares of the company’s stock, valued at approximately $2,987,382.60. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.13% of the stock is currently owned by corporate insiders.

Neogen Trading Up 4.0 %

NASDAQ NEOG opened at $15.62 on Thursday. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of -142.00 and a beta of 1.23. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.79 and a current ratio of 4.41. Neogen Co. has a one year low of $11.46 and a one year high of $20.89. The company’s 50 day moving average price is $15.45 and its 200 day moving average price is $15.29.

Neogen (NASDAQ:NEOG) last issued its earnings results on Thursday, October 10th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). The business had revenue of $217.00 million during the quarter, compared to analysts’ expectations of $215.05 million. Neogen had a negative net margin of 2.58% and a positive return on equity of 2.80%. The business’s revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.11 EPS. On average, sell-side analysts predict that Neogen Co. will post 0.52 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NEOG. StockNews.com raised Neogen to a “sell” rating in a research report on Monday, September 30th. Piper Sandler upped their price target on Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th.

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.