Intech Investment Management LLC Has $1.11 Million Holdings in Neogen Co. (NASDAQ:NEOG)

Intech Investment Management LLC raised its position in shares of Neogen Co. (NASDAQ:NEOG) by 126.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 65,944 shares of the company’s stock after acquiring an additional 36,871 shares during the period. Intech Investment Management LLC’s holdings in Neogen were worth $1,109,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Select Equity Group L.P. increased its holdings in Neogen by 23.1% during the 2nd quarter. Select Equity Group L.P. now owns 15,530,439 shares of the company’s stock valued at $242,741,000 after purchasing an additional 2,914,893 shares in the last quarter. William Blair Investment Management LLC increased its stake in shares of Neogen by 64.7% in the second quarter. William Blair Investment Management LLC now owns 12,013,072 shares of the company’s stock valued at $187,764,000 after buying an additional 4,717,696 shares in the last quarter. Conestoga Capital Advisors LLC raised its holdings in shares of Neogen by 24.5% in the third quarter. Conestoga Capital Advisors LLC now owns 8,706,224 shares of the company’s stock valued at $146,352,000 after buying an additional 1,711,238 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Neogen by 148.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,109,180 shares of the company’s stock worth $64,229,000 after buying an additional 2,454,566 shares in the last quarter. Finally, Blair William & Co. IL grew its holdings in Neogen by 24.1% during the 2nd quarter. Blair William & Co. IL now owns 3,487,126 shares of the company’s stock worth $54,504,000 after acquiring an additional 678,202 shares during the last quarter. Institutional investors own 96.73% of the company’s stock.

Insider Activity at Neogen

In other news, CEO John Edward Adent acquired 14,500 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was acquired at an average price of $13.80 per share, for a total transaction of $200,100.00. Following the transaction, the chief executive officer now directly owns 216,477 shares in the company, valued at approximately $2,987,382.60. This represents a 7.18 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 1.13% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NEOG has been the topic of a number of research reports. Piper Sandler upped their target price on shares of Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. StockNews.com upgraded shares of Neogen to a “sell” rating in a research report on Monday, September 30th.

Neogen Stock Performance

Shares of Neogen stock opened at $14.14 on Thursday. Neogen Co. has a 52 week low of $11.46 and a 52 week high of $20.89. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.79 and a current ratio of 4.41. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of -128.55 and a beta of 1.23. The firm has a fifty day moving average of $15.16 and a two-hundred day moving average of $15.60.

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

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.