Arizona State Retirement System Sells 1,041 Shares of Neogen Co. (NASDAQ:NEOG)

Arizona State Retirement System lowered its stake in Neogen Co. (NASDAQ:NEOG) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 57,445 shares of the company’s stock after selling 1,041 shares during the quarter. Arizona State Retirement System’s holdings in Neogen were worth $1,155,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Trust Point Inc. bought a new stake in shares of Neogen during the 4th quarter valued at about $413,000. Fifth Third Bancorp boosted its position in shares of Neogen by 194.2% during the 4th quarter. Fifth Third Bancorp now owns 29,326 shares of the company’s stock valued at $590,000 after acquiring an additional 19,359 shares during the last quarter. Values First Advisors Inc. boosted its position in shares of Neogen by 6.3% during the 4th quarter. Values First Advisors Inc. now owns 15,137 shares of the company’s stock valued at $304,000 after acquiring an additional 896 shares during the last quarter. Washington Trust Advisors Inc. boosted its position in shares of Neogen by 10.1% during the 4th quarter. Washington Trust Advisors Inc. now owns 11,966 shares of the company’s stock valued at $241,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in Neogen by 77.3% in the 4th quarter. Pacer Advisors Inc. now owns 29,849 shares of the company’s stock worth $600,000 after buying an additional 13,013 shares during the last quarter. Institutional investors own 96.73% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler decreased their price target on Neogen from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday.

Neogen Price Performance

NEOG opened at $12.01 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.66 and a current ratio of 3.82. Neogen Co. has a 52-week low of $11.94 and a 52-week high of $24.09. The stock has a market capitalization of $2.60 billion, a PE ratio of 1,202.20 and a beta of 1.13. The stock’s 50 day moving average price is $15.75 and its 200-day moving average price is $16.65.

Neogen (NASDAQ:NEOG) last posted its earnings results on Tuesday, April 9th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.02). Neogen had a net margin of 0.17% and a return on equity of 3.35%. The business had revenue of $228.80 million for the quarter, compared to analysts’ expectations of $230.01 million. During the same period last year, the firm posted $0.12 earnings per share. Neogen’s quarterly revenue was up 4.8% on a year-over-year basis. On average, equities research analysts predict that Neogen Co. will post 0.5 EPS for the current year.

Insider Activity at Neogen

In other news, CEO John Edward Adent purchased 23,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The shares were bought at an average cost of $12.36 per share, for a total transaction of $284,280.00. Following the completion of the transaction, the chief executive officer now directly owns 152,389 shares of the company’s stock, valued at approximately $1,883,528.04. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO John Edward Adent bought 23,000 shares of the company’s stock in a transaction on Wednesday, April 10th. The shares were acquired at an average cost of $12.36 per share, with a total value of $284,280.00. Following the completion of the acquisition, the chief executive officer now owns 152,389 shares of the company’s stock, valued at approximately $1,883,528.04. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James C. Borel bought 7,500 shares of the company’s stock in a transaction on Thursday, April 11th. The stock was bought at an average cost of $13.06 per share, for a total transaction of $97,950.00. Following the completion of the acquisition, the director now directly owns 21,392 shares of the company’s stock, valued at approximately $279,379.52. The disclosure for this purchase can be found here. Insiders have bought 43,000 shares of company stock worth $538,605 over the last ninety days. 0.71% of the stock is owned by corporate insiders.

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.