Shapiro Capital Management LLC Buys Shares of 1,988,950 Neogen Co. (NASDAQ:NEOG)

Shapiro Capital Management LLC purchased a new position in shares of Neogen Co. (NASDAQ:NEOG) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,988,950 shares of the company’s stock, valued at approximately $31,087,000. Shapiro Capital Management LLC owned about 0.92% of Neogen as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp increased its position in Neogen by 67.5% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 616,190 shares of the company’s stock worth $9,723,000 after buying an additional 248,340 shares during the last quarter. Trigran Investments Inc. bought a new position in shares of Neogen in the 4th quarter valued at approximately $12,048,000. SG Americas Securities LLC lifted its holdings in Neogen by 277.1% in 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 last quarter. BNP Paribas Financial Markets boosted its position in Neogen by 73.4% during the first 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 Neogen during the fourth quarter worth approximately $202,000. Institutional investors own 96.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. StockNews.com raised Neogen to a “sell” rating in a research report on Friday, September 13th.

Insider Activity at Neogen

In other news, Director James P. Tobin acquired 3,000 shares of Neogen stock in a transaction on Tuesday, August 6th. The stock was bought at an average price of $16.86 per share, for a total transaction of $50,580.00. Following the transaction, the director now owns 23,392 shares of the company’s stock, valued at $394,389.12. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.71% of the company’s stock.

Neogen Stock Down 0.2 %

Shares of NEOG stock opened at $17.43 on Tuesday. The stock has a 50 day moving average of $16.64 and a 200-day moving average of $15.18. The firm has a market cap of $3.78 billion, a PE ratio of 1,743.00 and a beta of 1.21. The company has a quick ratio of 2.59, a current ratio of 3.82 and a debt-to-equity ratio of 0.28. Neogen Co. has a 12 month low of $11.46 and a 12 month high of $20.89.

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