Neogen Co. (NASDAQ:NEOG) Shares Bought by Sei Investments Co.

Sei Investments Co. grew its position in Neogen Co. (NASDAQ:NEOG) by 4.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 433,825 shares of the company’s stock after purchasing an additional 19,589 shares during the period. Sei Investments Co. owned approximately 0.20% of Neogen worth $6,781,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. TD Asset Management Inc raised its position in shares of Neogen by 5.1% during the 4th quarter. TD Asset Management Inc now owns 136,150 shares of the company’s stock valued at $2,738,000 after buying an additional 6,600 shares during the period. Alberta Investment Management Corp boosted its holdings in shares of Neogen by 21.3% in the fourth quarter. Alberta Investment Management Corp now owns 87,884 shares of the company’s stock valued at $1,767,000 after acquiring an additional 15,460 shares during the period. Nicholas Company Inc. increased its holdings in shares of Neogen by 65.2% in the 4th quarter. Nicholas Company Inc. now owns 320,067 shares of the company’s stock valued at $6,437,000 after acquiring an additional 126,275 shares during the period. ACK Asset Management LLC boosted its stake in shares of Neogen by 3.0% during the fourth quarter. ACK Asset Management LLC now owns 2,059,400 shares of the company’s stock worth $41,415,000 after buying an additional 59,400 shares during the period. Finally, Azimuth Capital Investment Management LLC grew its stake in shares of Neogen by 11.6% in the 4th quarter. Azimuth Capital Investment Management LLC now owns 127,662 shares of the company’s stock valued at $2,567,000 after purchasing an additional 13,280 shares during the last quarter. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Neogen Stock Up 1.2 %

Shares of NASDAQ NEOG opened at $16.81 on Tuesday. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of 1,681.00 and a beta of 1.21. Neogen Co. has a 1 year low of $11.46 and a 1 year high of $20.89. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.59 and a current ratio of 3.82. The stock’s 50-day simple moving average is $16.61 and its 200-day simple moving average is $15.21.

Neogen (NASDAQ:NEOG) last announced its earnings results on Tuesday, July 30th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). The business had revenue of $236.80 million during the quarter, compared to analyst estimates of $225.83 million. Neogen had a negative net margin of 1.02% and a positive return on equity of 3.09%. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.14 earnings per share. As a group, equities analysts anticipate that Neogen Co. will post 0.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on NEOG. StockNews.com upgraded shares of Neogen to a “sell” rating in a research report on Monday. Piper Sandler lifted their price target on shares of Neogen from $17.00 to $17.50 and gave the company a “neutral” rating in a report on Tuesday, August 6th.

Insider Activity at Neogen

In related news, Director James P. Tobin bought 3,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were bought at an average cost of $16.86 per share, for a total transaction of $50,580.00. Following the completion of the purchase, the director now owns 23,392 shares of the company’s stock, valued at approximately $394,389.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.71% 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.