AQR Capital Management LLC Takes $907,000 Position in Neogen Co. (NASDAQ:NEOG)

AQR Capital Management LLC purchased a new position in shares of Neogen Co. (NASDAQ:NEOG) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 58,204 shares of the company’s stock, valued at approximately $907,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. William Blair Investment Management LLC raised its position 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 acquiring an additional 4,717,696 shares during the last quarter. Baillie Gifford & Co. raised its position in shares of Neogen by 42.3% during the 1st quarter. Baillie Gifford & Co. now owns 11,789,521 shares of the company’s stock worth $186,039,000 after purchasing an additional 3,502,807 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Neogen by 148.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,109,180 shares of the company’s stock worth $64,229,000 after purchasing an additional 2,454,566 shares during the last quarter. Shapiro Capital Management LLC purchased a new stake in Neogen in the 2nd quarter valued at approximately $31,087,000. Finally, Fred Alger Management LLC grew its holdings in Neogen by 542.3% during the 2nd quarter. Fred Alger Management LLC now owns 2,137,317 shares of the company’s stock valued at $33,406,000 after buying an additional 1,804,550 shares during the last quarter. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

Neogen Stock Up 4.6 %

Shares of NASDAQ NEOG opened at $14.43 on Friday. The firm has a market cap of $3.13 billion, a P/E ratio of -360.75 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 Co. has a 1 year low of $11.46 and a 1 year high of $20.89. The firm’s 50 day moving average price is $16.22 and its 200 day moving average price is $15.19.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings data on Thursday, October 10th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.03). Neogen had a positive return on equity of 3.09% and a negative net margin of 1.02%. The business had revenue of $217.00 million for the quarter, compared to analyst estimates of $215.05 million. During the same quarter last year, the business earned $0.11 EPS. Neogen’s revenue for the quarter was down 5.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Neogen Co. will post 0.54 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on NEOG. Piper Sandler upped their price objective on Neogen from $17.00 to $17.50 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. StockNews.com upgraded shares of Neogen to a “sell” rating in a report on Monday, September 30th.

Insider Buying and Selling at Neogen

In related news, Director James P. Tobin bought 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired 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 owns 23,392 shares of the company’s stock, valued at approximately $394,389.12. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.13% of the stock is owned by company insiders.

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.