New York State Common Retirement Fund Acquires 70,815 Shares of Neogen Co. (NASDAQ:NEOG)

New York State Common Retirement Fund lifted its holdings in shares of Neogen Co. (NASDAQ:NEOG) by 5.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,469,375 shares of the company’s stock after purchasing 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 reporting period.

Other large investors also recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in Neogen in the third quarter valued at about $1,017,000. Meridian Wealth Management LLC boosted its holdings in Neogen by 100.0% in the third quarter. Meridian Wealth Management LLC now owns 34,796 shares of the company’s stock valued at $645,000 after acquiring an additional 17,398 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in Neogen by 29.4% in the third quarter. Handelsbanken Fonder AB now owns 39,564 shares of the company’s stock valued at $734,000 after acquiring an additional 9,000 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in Neogen by 29.1% in the third quarter. New York State Teachers Retirement System now owns 126,506 shares of the company’s stock valued at $2,345,000 after acquiring an additional 28,507 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Neogen by 17.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,145 shares of the company’s stock valued at $763,000 after acquiring an additional 6,166 shares during the last quarter. Institutional investors own 96.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reduced their target price on Neogen from $19.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday, April 15th.

Neogen Price Performance

Shares of NEOG opened at $11.96 on Friday. The stock has a market cap of $2.59 billion, a P/E ratio of 1,197.20 and a beta of 1.13. The company has a current ratio of 3.82, a quick ratio of 2.66 and a debt-to-equity ratio of 0.28. The stock’s 50-day moving average price is $15.02 and its two-hundred day moving average price is $16.36. Neogen Co. has a 1 year low of $11.46 and a 1 year high of $24.09.

Neogen (NASDAQ:NEOG) last released 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 business had revenue of $228.80 million for the quarter, compared to analyst estimates of $230.01 million. Neogen had a return on equity of 3.35% and a net margin of 0.17%. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.12 EPS. On average, equities analysts predict that Neogen Co. will post 0.5 earnings per share for the current year.

Insider Transactions at Neogen

In other Neogen news, CEO John Edward Adent purchased 23,000 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were bought at an average price 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 in the company, valued at approximately $1,883,528.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO John Edward Adent bought 23,000 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were purchased at an average price of $12.36 per share, for a total transaction of $284,280.00. Following the purchase, the chief executive officer now owns 152,389 shares of the company’s stock, valued at approximately $1,883,528.04. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Douglas Edward Jones bought 10,000 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was purchased at an average price of $12.36 per share, for a total transaction of $123,600.00. Following the purchase, the chief operating officer now directly owns 46,131 shares in the company, valued at approximately $570,179.16. The disclosure for this purchase can be found here. Insiders have acquired a total of 53,000 shares of company stock valued at $662,205 over the last 90 days. 0.71% 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.