Victory Capital Management Inc. Raises Stock Holdings in Neogen Co. (NASDAQ:NEOG)

Victory Capital Management Inc. lifted its holdings in shares of Neogen Co. (NASDAQ:NEOG) by 26.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 495,028 shares of the company’s stock after buying an additional 103,815 shares during the quarter. Victory Capital Management Inc. owned approximately 0.23% of Neogen worth $7,737,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Covestor Ltd raised its position in Neogen by 173.2% during the first quarter. Covestor Ltd now owns 1,970 shares of the company’s stock worth $31,000 after acquiring an additional 1,249 shares during the period. Innealta Capital LLC acquired a new position in shares of Neogen during the 2nd quarter worth about $46,000. Family Firm Inc. purchased a new position in Neogen in the 2nd quarter valued at about $90,000. Quantum Private Wealth LLC acquired a new stake in Neogen in the 2nd quarter worth about $156,000. Finally, Moody National Bank Trust Division purchased a new stake in Neogen during the 1st quarter worth approximately $161,000. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on NEOG shares. Piper Sandler lifted their price target on Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. StockNews.com raised shares of Neogen to a “sell” rating in a report on Friday.

Neogen Trading Up 4.1 %

NEOG opened at $16.13 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.82 and a quick ratio of 2.59. The company’s 50 day simple moving average is $16.47 and its two-hundred day simple moving average is $15.18. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of 1,613.00 and a beta of 1.21. Neogen Co. has a 1-year low of $11.46 and a 1-year high of $21.88.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). The company had revenue of $236.80 million for the quarter, compared to analysts’ expectations of $225.83 million. Neogen had a positive return on equity of 3.09% and a negative net margin of 1.02%. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.14 EPS. Analysts expect that Neogen Co. will post 0.54 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director James P. Tobin purchased 3,000 shares of the company’s stock in a transaction dated 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 purchase, the director now directly owns 23,392 shares in the company, valued at approximately $394,389.12. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.71% of the stock is owned by company insiders.

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.