New York State Common Retirement Fund boosted its stake in Neogen Co. (NASDAQ:NEOG – Free Report) by 2.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,398,560 shares of the company’s stock after acquiring an additional 31,488 shares during the quarter. New York State Common Retirement Fund’s holdings in Neogen were worth $25,929,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in NEOG. Steward Partners Investment Advisory LLC acquired a new stake in Neogen in the 1st quarter valued at $29,000. State of Tennessee Treasury Department acquired a new stake in Neogen in the 1st quarter valued at $45,000. International Assets Investment Management LLC acquired a new stake in Neogen in the 3rd quarter valued at $49,000. Allspring Global Investments Holdings LLC increased its stake in Neogen by 416.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,033 shares of the company’s stock valued at $56,000 after buying an additional 2,446 shares during the last quarter. Finally, First Manhattan CO. LLC. acquired a new stake in Neogen in the 1st quarter valued at $68,000. 96.73% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several brokerages have issued reports on NEOG. Piper Sandler lifted their price target on shares of Neogen from $17.50 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, January 18th. StockNews.com lowered shares of Neogen from a “hold” rating to a “sell” rating in a research note on Saturday, October 28th.
Neogen Stock Up 2.2 %
Neogen stock opened at $15.63 on Friday. The firm has a market capitalization of $3.38 billion, a PE ratio of 260.54 and a beta of 1.12. The company’s 50-day moving average is $18.23 and its 200-day moving average is $18.86. Neogen Co. has a fifty-two week low of $14.44 and a fifty-two week high of $24.09. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.54 and a quick ratio of 2.63.
Neogen (NASDAQ:NEOG – Get Free Report) last released its quarterly earnings data on Tuesday, January 9th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.08. The company had revenue of $229.60 million for the quarter, compared to analyst estimates of $232.85 million. Neogen had a net margin of 1.28% and a return on equity of 3.35%. Neogen’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.15 EPS. Sell-side analysts anticipate that Neogen Co. will post 0.55 earnings per share for the current year.
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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