TD Asset Management Inc Buys 19,800 Shares of Neogen Co. (NASDAQ:NEOG)

TD Asset Management Inc raised its stake in shares of Neogen Co. (NASDAQ:NEOG) by 14.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,316 shares of the company’s stock after buying an additional 19,800 shares during the period. TD Asset Management Inc owned 0.07% of Neogen worth $2,506,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NEOG. Roubaix Capital LLC grew its position in Neogen by 160.4% during the second quarter. Roubaix Capital LLC now owns 288,427 shares of the company’s stock worth $4,508,000 after buying an additional 177,646 shares in the last quarter. Rhumbline Advisers grew its position in Neogen by 0.3% during the second quarter. Rhumbline Advisers now owns 715,254 shares of the company’s stock worth $11,179,000 after buying an additional 1,860 shares in the last quarter. Natixis Advisors LLC grew its position in Neogen by 12.6% during the second quarter. Natixis Advisors LLC now owns 71,313 shares of the company’s stock worth $1,115,000 after buying an additional 7,954 shares in the last quarter. Commonwealth Equity Services LLC grew its position in Neogen by 3.4% during the second quarter. Commonwealth Equity Services LLC now owns 36,630 shares of the company’s stock worth $573,000 after buying an additional 1,190 shares in the last quarter. Finally, Peregrine Capital Management LLC grew its position in Neogen by 1.3% during the second quarter. Peregrine Capital Management LLC now owns 571,724 shares of the company’s stock worth $8,936,000 after buying an additional 7,424 shares in the last quarter. 96.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on NEOG. Piper Sandler lifted their price objective on Neogen from $17.00 to $17.50 and gave the company a “neutral” rating in a report on Tuesday, August 6th. StockNews.com raised Neogen to a “sell” rating in a report on Friday.

Insider Buying and Selling at Neogen

In other Neogen news, Director James P. Tobin bought 3,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were purchased at an average price of $16.86 per share, for a total transaction of $50,580.00. Following the transaction, the director now directly owns 23,392 shares in the company, valued at approximately $394,389.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.71% of the company’s stock.

Neogen Price Performance

Shares of NASDAQ NEOG opened at $15.50 on Friday. The firm has a market cap of $3.36 billion, a PE ratio of 1,550.00 and a beta of 1.21. The company has a current ratio of 3.82, a quick ratio of 2.59 and a debt-to-equity ratio of 0.28. Neogen Co. has a 1-year low of $11.46 and a 1-year high of $21.88. The company has a fifty day moving average price of $16.45 and a 200 day moving average price of $15.21.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.02). The business had revenue of $236.80 million for the quarter, compared to the consensus estimate of $225.83 million. Neogen had a positive return on equity of 3.09% and a negative net margin of 1.02%. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period last year, the firm earned $0.14 earnings per share. Research analysts predict that Neogen Co. will post 0.54 earnings per share for the current fiscal year.

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.