10,025 Shares in Neogen Co. (NASDAQ:NEOG) Acquired by Marco Investment Management LLC

Marco Investment Management LLC purchased a new stake in Neogen Co. (NASDAQ:NEOG) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 10,025 shares of the company’s stock, valued at approximately $169,000.

Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its position in Neogen by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 19,715,974 shares of the company’s stock worth $311,118,000 after purchasing an additional 169,237 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Neogen by 6.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 126,095 shares of the company’s stock valued at $1,990,000 after purchasing an additional 7,946 shares during the period. Silvercrest Asset Management Group LLC raised its holdings in Neogen by 0.4% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 513,839 shares of the company’s stock worth $8,108,000 after purchasing an additional 2,190 shares during the last quarter. Bayesian Capital Management LP bought a new stake in shares of Neogen in the 1st quarter valued at $175,000. Finally, Janus Henderson Group PLC raised its stake in Neogen by 1.3% during the first quarter. Janus Henderson Group PLC now owns 3,628,801 shares of the company’s stock worth $57,261,000 after buying an additional 46,855 shares during the last quarter. Institutional investors own 96.73% of the company’s stock.

Insider Buying and Selling at Neogen

In other Neogen news, CEO John Edward Adent acquired 14,500 shares of the company’s stock in a transaction on Friday, October 11th. The shares were purchased at an average cost of $13.80 per share, with a total value of $200,100.00. Following the completion of the purchase, the chief executive officer now owns 216,477 shares of the company’s stock, valued at approximately $2,987,382.60. This represents a 7.18 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.13% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on NEOG shares. StockNews.com raised shares of Neogen to a “sell” rating in a research report on Monday, September 30th. Piper Sandler raised their target price on Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th.

Neogen Trading Up 2.7 %

Neogen stock opened at $14.98 on Monday. The company has a current ratio of 4.41, a quick ratio of 2.79 and a debt-to-equity ratio of 0.28. The firm’s fifty day moving average is $15.23 and its 200 day moving average is $15.57. Neogen Co. has a 12-month low of $11.46 and a 12-month high of $20.89.

Neogen (NASDAQ:NEOG) last released its quarterly earnings data on Thursday, October 10th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). Neogen had a positive return on equity of 2.80% and a negative net margin of 2.58%. The company had revenue of $217.00 million for the quarter, compared to the consensus estimate of $215.05 million. During the same period last year, the company earned $0.11 EPS. Neogen’s revenue for the quarter was down 5.2% compared to the same quarter last year. As a group, research analysts predict that Neogen Co. will post 0.5 EPS for the current fiscal year.

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.