Texas Permanent School Fund Corp raised its stake in shares of Neogen Co. (NASDAQ:NEOG – Free Report) by 2.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 176,547 shares of the company’s stock after buying an additional 4,106 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Neogen were worth $2,759,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. Covestor Ltd grew its holdings in shares of Neogen by 173.2% during the first quarter. Covestor Ltd now owns 1,970 shares of the company’s stock worth $31,000 after purchasing an additional 1,249 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of Neogen during the second quarter worth about $46,000. Family Firm Inc. purchased a new position in shares of Neogen during the second quarter worth about $90,000. Quantum Private Wealth LLC purchased a new position in shares of Neogen during the second quarter worth about $156,000. Finally, Moody National Bank Trust Division purchased a new position in shares of Neogen during the first quarter worth about $161,000. Hedge funds and other institutional investors own 96.73% of the company’s stock.
Neogen Stock Up 4.1 %
Shares of NEOG opened at $16.13 on Monday. The firm has a market cap of $3.49 billion, a P/E ratio of 1,613.00 and a beta of 1.21. The stock has a 50 day simple moving average of $16.47 and a two-hundred day simple moving average of $15.18. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.82 and a quick ratio of 2.59. Neogen Co. has a 1 year low of $11.46 and a 1 year high of $21.88.
Insiders Place Their Bets
In other news, Director James P. Tobin bought 3,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was acquired at an average price of $16.86 per share, with a total value of $50,580.00. Following the completion of the purchase, the director now directly owns 23,392 shares in the company, valued at $394,389.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.71% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Several research analysts have recently commented on NEOG shares. StockNews.com raised Neogen to a “sell” rating in a report on Friday. Piper Sandler boosted their price objective on Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a report on Tuesday, August 6th.
Read Our Latest Research Report on Neogen
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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