Neogen Co. (NASDAQ:NEOG) Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D grew its stake in Neogen Co. (NASDAQ:NEOG) by 26.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 150,753 shares of the company’s stock after purchasing an additional 31,927 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.07% of Neogen worth $3,032,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Allspring Global Investments Holdings LLC lifted its position in shares of Neogen by 416.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,033 shares of the company’s stock valued at $56,000 after acquiring an additional 2,446 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in shares of Neogen in the third quarter valued at $151,000. Fifth Third Bancorp increased its stake in Neogen by 10.7% during the third quarter. Fifth Third Bancorp now owns 9,967 shares of the company’s stock worth $185,000 after acquiring an additional 966 shares during the last quarter. Savant Capital LLC grew its stake in shares of Neogen by 9.4% in the third quarter. Savant Capital LLC now owns 10,320 shares of the company’s stock valued at $191,000 after buying an additional 889 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Neogen in the third quarter valued at about $201,000. Institutional investors and hedge funds own 96.73% of the company’s stock.

Neogen Price Performance

NEOG stock opened at $12.14 on Friday. The firm has a market cap of $2.63 billion, a P/E ratio of 1,215.22 and a beta of 1.13. Neogen Co. has a 1 year low of $11.46 and a 1 year high of $24.09. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.66 and a current ratio of 3.82. The stock has a 50-day simple moving average of $14.91 and a 200-day simple moving average of $16.33.

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

Insider Activity at Neogen

In other Neogen news, CFO David H. Naemura purchased 12,500 shares of Neogen stock in a transaction that occurred on Wednesday, April 10th. The stock was purchased at an average price of $12.51 per share, with a total value of $156,375.00. Following the completion of the acquisition, the chief financial officer now owns 30,040 shares of the company’s stock, valued at approximately $375,800.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director James C. Borel bought 7,500 shares of Neogen stock in a transaction on Thursday, April 11th. The shares were bought at an average price of $13.06 per share, with a total value of $97,950.00. Following the acquisition, the director now directly owns 21,392 shares in the company, valued at approximately $279,379.52. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David H. Naemura bought 12,500 shares of Neogen stock in a transaction on Wednesday, April 10th. The shares were purchased at an average cost of $12.51 per share, for a total transaction of $156,375.00. Following the acquisition, the chief financial officer now owns 30,040 shares in the company, valued at $375,800.40. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 53,000 shares of company stock valued at $662,205. Insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

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

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.