New York State Common Retirement Fund Trims Stock Holdings in Neogen Co. (NASDAQ:NEOG)

New York State Common Retirement Fund trimmed its holdings in Neogen Co. (NASDAQ:NEOG) by 6.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 286,667 shares of the company’s stock after selling 19,947 shares during the period. New York State Common Retirement Fund owned approximately 0.13% of Neogen worth $3,480,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of NEOG. Raymond James & Associates grew its stake in Neogen by 21.5% in the 3rd quarter. Raymond James & Associates now owns 250,342 shares of the company’s stock valued at $4,208,000 after buying an additional 44,339 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Neogen by 142.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company’s stock valued at $33,000 after buying an additional 1,165 shares in the last quarter. International Assets Investment Management LLC grew its stake in Neogen by 1,581.0% in the 3rd quarter. International Assets Investment Management LLC now owns 11,666 shares of the company’s stock valued at $196,000 after buying an additional 10,972 shares in the last quarter. State of Alaska Department of Revenue grew its stake in Neogen by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 22,810 shares of the company’s stock valued at $383,000 after buying an additional 1,550 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in Neogen by 12.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 28,258 shares of the company’s stock valued at $475,000 after buying an additional 3,123 shares in the last quarter. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

Neogen Trading Down 0.3 %

Neogen stock opened at $10.05 on Friday. The stock has a market cap of $2.18 billion, a P/E ratio of -4.59 and a beta of 1.23. Neogen Co. has a fifty-two week low of $9.70 and a fifty-two week high of $18.58. The firm’s fifty day moving average price is $11.34 and its 200-day moving average price is $13.75. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.46 and a current ratio of 3.77.

Neogen (NASDAQ:NEOG) last announced its earnings results on Friday, January 10th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.12. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The company had revenue of $231.30 million during the quarter, compared to analyst estimates of $227.16 million. During the same period in the previous year, the business earned $0.11 earnings per share. The firm’s quarterly revenue was up .7% compared to the same quarter last year. Equities research analysts forecast that Neogen Co. will post 0.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on NEOG shares. Piper Sandler reaffirmed a “neutral” rating and issued a $13.00 price target (down previously from $16.50) on shares of Neogen in a report on Tuesday, January 21st. Guggenheim started coverage on shares of Neogen in a report on Thursday, December 19th. They issued a “buy” rating and a $15.00 price target on the stock.

Insider Buying and Selling

In related news, CEO John Edward Adent bought 23,035 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was bought at an average cost of $11.03 per share, for a total transaction of $254,076.05. Following the completion of the transaction, the chief executive officer now owns 269,164 shares of the company’s stock, valued at approximately $2,968,878.92. The trade was a 9.36 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David H. Naemura purchased 14,800 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were acquired at an average price of $11.11 per share, with a total value of $164,428.00. Following the completion of the transaction, the chief financial officer now owns 61,434 shares of the company’s stock, valued at approximately $682,531.74. This trade represents a 31.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.13% of the stock is 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.