Louisiana State Employees Retirement System Invests $1.11 Million in Neogen Co. (NASDAQ:NEOG)

Louisiana State Employees Retirement System acquired a new position in shares of Neogen Co. (NASDAQ:NEOG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 55,300 shares of the company’s stock, valued at approximately $1,112,000.

Several other hedge funds have also made changes to their positions in NEOG. SG Americas Securities LLC acquired a new stake in shares of Neogen during the third quarter worth $1,017,000. Meridian Wealth Management LLC boosted its holdings in Neogen by 100.0% in the third quarter. Meridian Wealth Management LLC now owns 34,796 shares of the company’s stock valued at $645,000 after acquiring an additional 17,398 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in Neogen by 29.4% in the third quarter. Handelsbanken Fonder AB now owns 39,564 shares of the company’s stock valued at $734,000 after acquiring an additional 9,000 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in Neogen by 29.1% in the third quarter. New York State Teachers Retirement System now owns 126,506 shares of the company’s stock valued at $2,345,000 after acquiring an additional 28,507 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Neogen by 17.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,145 shares of the company’s stock valued at $763,000 after acquiring an additional 6,166 shares during the last quarter. Institutional investors and hedge funds own 96.73% of the company’s stock.

Insider Buying and Selling at Neogen

In other Neogen news, Director James C. Borel bought 7,500 shares of the company’s stock in a transaction dated Thursday, April 11th. The shares were acquired at an average cost of $13.06 per share, with a total value of $97,950.00. Following the completion of the transaction, the director now owns 21,392 shares in the company, valued at $279,379.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Neogen news, CEO John Edward Adent bought 23,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 152,389 shares in the company, valued at $1,883,528.04. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James C. Borel bought 7,500 shares of the company’s stock in a transaction dated Thursday, April 11th. The shares were acquired at an average cost of $13.06 per share, for a total transaction of $97,950.00. Following the completion of the transaction, the director now 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 purchased 53,000 shares of company stock valued at $662,205 over the last three months. 0.71% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Piper Sandler reduced their target price on Neogen from $19.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday, April 15th.

Neogen Trading Up 4.5 %

NASDAQ:NEOG opened at $12.31 on Wednesday. The business’s 50-day moving average is $15.22 and its two-hundred day moving average is $16.42. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.82 and a quick ratio of 2.66. Neogen Co. has a 12 month low of $11.46 and a 12 month high of $24.09. The firm has a market capitalization of $2.67 billion, a PE ratio of 1,232.23 and a beta of 1.13.

Neogen (NASDAQ:NEOG) last released its quarterly earnings data on Tuesday, April 9th. The company reported $0.12 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 company had revenue of $228.80 million during the quarter, compared to analysts’ expectations of $230.01 million. During the same period last year, the business earned $0.12 earnings per share. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. Research analysts predict that Neogen Co. will post 0.5 earnings per share 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.