Marshall Wace LLP Acquires Shares of 18,758 Neogen Co. (NASDAQ:NEOG)

Marshall Wace LLP acquired a new stake in Neogen Co. (NASDAQ:NEOG) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 18,758 shares of the company’s stock, valued at approximately $293,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Neogen by 67.5% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 616,190 shares of the company’s stock worth $9,723,000 after purchasing an additional 248,340 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Neogen by 277.1% during the 1st quarter. SG Americas Securities LLC now owns 45,558 shares of the company’s stock worth $719,000 after purchasing an additional 33,478 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Neogen by 73.4% during the 1st quarter. BNP Paribas Financial Markets now owns 115,830 shares of the company’s stock worth $1,828,000 after purchasing an additional 49,041 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in shares of Neogen by 39.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 103,611 shares of the company’s stock worth $1,619,000 after purchasing an additional 29,489 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Neogen by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 19,715,974 shares of the company’s stock worth $311,118,000 after purchasing an additional 169,237 shares during the last quarter. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NEOG. StockNews.com upgraded shares of Neogen to a “sell” rating in a research note on Monday, September 30th. Piper Sandler raised their price objective on shares of Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a report on Tuesday, August 6th.

Insider Activity

In related news, Director James P. Tobin acquired 3,000 shares of the stock in a transaction dated 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 owns 23,392 shares in the company, valued at $394,389.12. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.13% of the company’s stock.

Neogen Stock Up 4.6 %

Shares of NASDAQ:NEOG opened at $14.43 on Friday. The firm has a fifty day moving average price of $16.22 and a two-hundred day moving average price of $15.19. 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 one year low of $11.46 and a one year high of $20.89. The company has a market cap of $3.13 billion, a price-to-earnings ratio of -360.75 and a beta of 1.21.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings results on Thursday, October 10th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.03). The firm had revenue of $217.00 million during the quarter, compared to the consensus estimate of $215.05 million. Neogen had a negative net margin of 1.02% and a positive return on equity of 3.09%. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.11 earnings per share. Analysts anticipate that Neogen Co. will post 0.54 EPS 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.