State Board of Administration of Florida Retirement System trimmed its position in Neogen Co. (NASDAQ:NEOG – Free Report) by 8.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,192 shares of the company’s stock after selling 3,570 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Neogen were worth $744,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. AdvisorNet Financial Inc purchased a new position in shares of Neogen in the 1st quarter worth about $25,000. Park Place Capital Corp purchased a new stake in shares of Neogen during the 1st quarter valued at about $25,000. Lindbrook Capital LLC purchased a new stake in shares of Neogen during the 1st quarter valued at about $29,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Neogen during the 1st quarter valued at about $29,000. Finally, Allworth Financial LP purchased a new stake in shares of Neogen during the 1st quarter valued at about $33,000. 96.73% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on the company. StockNews.com downgraded Neogen from a “hold” rating to a “sell” rating in a report on Wednesday. Piper Sandler raised their target price on Neogen from $19.00 to $24.00 in a report on Monday, August 7th. Finally, Wells Fargo & Company raised their target price on Neogen from $22.00 to $28.00 and gave the company an “overweight” rating in a report on Monday, August 14th.
Neogen Price Performance
NEOG stock opened at $19.31 on Friday. The company has a quick ratio of 3.11, a current ratio of 4.03 and a debt-to-equity ratio of 0.28. Neogen Co. has a 52-week low of $10.49 and a 52-week high of $24.09. The stock’s 50 day moving average is $22.18 and its two-hundred day moving average is $19.75. The company has a market capitalization of $4.18 billion, a PE ratio of -275.86 and a beta of 1.04.
Neogen (NASDAQ:NEOG – Get Free Report) last posted its quarterly earnings data on Thursday, July 27th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.11. Neogen had a positive return on equity of 4.06% and a negative net margin of 2.78%. The company had revenue of $241.80 million for the quarter, compared to the consensus estimate of $227.72 million. During the same period in the previous year, the business earned $0.18 EPS. Neogen’s revenue for the quarter was up 71.4% compared to the same quarter last year. Analysts predict that Neogen Co. will post 0.6 earnings per share for the current fiscal year.
Insider Transactions at Neogen
In other news, Director William T. Boehm sold 1,500 shares of Neogen stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $22.59, for a total value of $33,885.00. Following the completion of the transaction, the director now owns 24,509 shares in the company, valued at approximately $553,658.31. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.73% of the company’s stock.
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.
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