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

New York State Common Retirement Fund increased its holdings in shares of Neogen Co. (NASDAQ:NEOG - Free Report) by 5.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,469,375 shares of the company's stock after buying an additional 70,815 shares during the period. New York State Common Retirement Fund owned 0.68% of Neogen worth $29,549,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Mackenzie Financial Corp increased its stake in Neogen by 9.3% in the fourth quarter. Mackenzie Financial Corp now owns 5,868,784 shares of the company's stock valued at $118,021,000 after purchasing an additional 497,856 shares in the last quarter. FMR LLC increased its stake in Neogen by 0.9% in the third quarter. FMR LLC now owns 1,915,751 shares of the company's stock valued at $35,518,000 after purchasing an additional 16,414 shares in the last quarter. Inspire Investing LLC boosted its holdings in shares of Neogen by 99.3% in the third quarter. Inspire Investing LLC now owns 33,979 shares of the company's stock valued at $630,000 after buying an additional 16,930 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Neogen by 77.3% in the fourth quarter. Pacer Advisors Inc. now owns 29,849 shares of the company's stock valued at $600,000 after buying an additional 13,013 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in shares of Neogen by 194.2% in the fourth quarter. Fifth Third Bancorp now owns 29,326 shares of the company's stock valued at $590,000 after buying an additional 19,359 shares during the period. 96.73% of the stock is owned by institutional investors.

Neogen Stock Performance

NEOG stock traded up $0.18 during trading hours on Friday, reaching $12.14. The stock had a trading volume of 2,032,678 shares, compared to its average volume of 2,140,810. The stock has a market capitalization of $2.63 billion, a PE ratio of 1,214.00 and a beta of 1.13. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.82 and a quick ratio of 2.66. The stock has a 50-day simple moving average of $14.91 and a 200 day simple moving average of $16.32. Neogen Co. has a fifty-two week low of $11.46 and a fifty-two week high of $24.09.

Neogen (NASDAQ:NEOG - Get Free Report) last announced its quarterly earnings results on Tuesday, April 9th. The company reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.02). The firm had revenue of $228.80 million during the quarter, compared to analyst estimates of $230.01 million. Neogen had a net margin of 0.17% and a return on equity of 3.35%. The business's revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.12 EPS. Analysts predict that Neogen Co. will post 0.5 EPS for the current fiscal year.

Insider Activity

In related news, CEO John Edward Adent acquired 23,000 shares of the company's stock in a transaction dated Wednesday, April 10th. The shares were bought at an average cost of $12.36 per share, with a total value of $284,280.00. Following the completion of the transaction, the chief executive officer now directly owns 152,389 shares of the company's stock, valued at $1,883,528.04. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other Neogen news, CEO John Edward Adent purchased 23,000 shares of the stock in a transaction that occurred on Wednesday, April 10th. The shares were acquired at an average cost of $12.36 per share, with a total value of $284,280.00. Following the completion of the transaction, the chief executive officer now owns 152,389 shares in the company, valued at $1,883,528.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James C. Borel purchased 7,500 shares of the stock in a transaction that occurred on Thursday, April 11th. The shares were acquired at an average cost of $13.06 per share, for a total transaction of $97,950.00. Following the completion of the transaction, the director now owns 21,392 shares of the company's stock, valued at approximately $279,379.52. The disclosure for this purchase can be found here. Insiders have purchased 53,000 shares of company stock valued at $662,205 over the last ninety days. 0.71% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, Piper Sandler reduced their price target on shares of Neogen from $19.00 to $17.00 and set a "neutral" rating for the company in a report on Monday, April 15th.

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.