Sumitomo Mitsui Trust Holdings Inc. Has $1.62 Million Stake in Neogen Co. (NASDAQ:NEOG)

Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Neogen Co. (NASDAQ:NEOG) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,581 shares of the company’s stock after buying an additional 1,066 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Neogen were worth $1,620,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Louisiana State Employees Retirement System purchased a new position in Neogen in the fourth quarter valued at about $1,112,000. Conestoga Capital Advisors LLC grew its stake in shares of Neogen by 4.0% during the 4th quarter. Conestoga Capital Advisors LLC now owns 6,817,600 shares of the company’s stock worth $137,102,000 after acquiring an additional 265,075 shares during the period. Baillie Gifford & Co. purchased a new stake in Neogen in the 4th quarter worth about $166,646,000. International Assets Investment Management LLC raised its stake in Neogen by 632.7% in the 4th quarter. International Assets Investment Management LLC now owns 19,306 shares of the company’s stock valued at $388,000 after acquiring an additional 16,671 shares during the period. Finally, New York State Teachers Retirement System lifted its holdings in Neogen by 1.6% during the fourth quarter. New York State Teachers Retirement System now owns 128,491 shares of the company’s stock valued at $2,584,000 after purchasing an additional 1,985 shares during the last quarter. 96.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, COO Douglas Edward Jones purchased 10,000 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was purchased at an average cost of $12.36 per share, with a total value of $123,600.00. Following the acquisition, the chief operating officer now directly owns 46,131 shares in the company, valued at $570,179.16. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director James C. Borel purchased 7,500 shares of the stock in a transaction on Thursday, April 11th. The shares were acquired at an average price of $13.06 per share, for a total transaction of $97,950.00. Following the completion of the transaction, the director now directly owns 21,392 shares of the company’s stock, valued at approximately $279,379.52. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Douglas Edward Jones acquired 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were purchased at an average cost of $12.36 per share, for a total transaction of $123,600.00. Following the completion of the acquisition, the chief operating officer now owns 46,131 shares in the company, valued at approximately $570,179.16. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 53,000 shares of company stock valued at $662,205. Company insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

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

Neogen Price Performance

Neogen stock opened at $12.37 on Thursday. The firm has a market capitalization of $2.68 billion, a P/E ratio of 1,238.24 and a beta of 1.13. Neogen Co. has a one year low of $11.46 and a one year high of $24.09. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.82 and a quick ratio of 2.66. The business has a fifty day moving average price of $15.13 and a 200-day moving average price of $16.39.

Neogen (NASDAQ:NEOG) last issued its earnings results 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 return on equity of 3.35% and a net margin of 0.17%. The company had revenue of $228.80 million during the quarter, compared to the consensus estimate of $230.01 million. During the same quarter in the prior year, the business earned $0.12 EPS. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, equities research analysts forecast that Neogen Co. will post 0.5 EPS for the current 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.