International Assets Investment Management LLC Has $388,000 Stock Position in Neogen Co. (NASDAQ:NEOG)

International Assets Investment Management LLC boosted its position in Neogen Co. (NASDAQ:NEOG) by 632.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,306 shares of the company’s stock after acquiring an additional 16,671 shares during the period. International Assets Investment Management LLC’s holdings in Neogen were worth $388,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Neogen in the third quarter valued at approximately $1,017,000. Handelsbanken Fonder AB grew its position in shares of 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 purchasing an additional 9,000 shares in the last quarter. New York State Teachers Retirement System grew its position in shares of 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 purchasing an additional 28,507 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Neogen by 17.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,145 shares of the company’s stock valued at $763,000 after buying an additional 6,166 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Neogen by 4.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 98,392 shares of the company’s stock valued at $1,824,000 after buying an additional 4,136 shares during the period. Institutional investors own 96.73% of the company’s stock.

Insider Activity

In other news, Director James C. Borel acquired 7,500 shares of the firm’s stock in a transaction that occurred 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 acquisition, the director now directly owns 21,392 shares in the company, valued at $279,379.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director James C. Borel acquired 7,500 shares of the firm’s stock in a transaction that occurred 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 acquisition, the director now directly owns 21,392 shares in the company, valued at $279,379.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO David H. Naemura bought 12,500 shares of the business’s stock in a transaction on Wednesday, April 10th. The stock was bought at an average cost of $12.51 per share, with a total value of $156,375.00. Following the transaction, the chief financial officer now owns 30,040 shares in the company, valued at approximately $375,800.40. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 53,000 shares of company stock worth $662,205. Insiders own 0.71% of the company’s stock.

Neogen Stock Up 1.5 %

NASDAQ NEOG opened at $12.14 on Friday. 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 1 year low of $11.46 and a 1 year high of $24.09. The business’s 50-day moving average is $14.91 and its 200 day moving average is $16.32. The stock has a market capitalization of $2.63 billion, a PE ratio of 1,214.00 and a beta of 1.13.

Neogen (NASDAQ:NEOG) last released 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 quarter in the previous year, the business posted $0.12 earnings per share. Neogen’s revenue for the quarter was up 4.8% on a year-over-year basis. Sell-side analysts forecast that Neogen Co. will post 0.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Neogen Company 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.