Edgestream Partners L.P. Purchases New Position in Neogen Co. (NASDAQ:NEOG)

Edgestream Partners L.P. purchased a new stake in Neogen Co. (NASDAQ:NEOG) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 68,229 shares of the company’s stock, valued at approximately $1,484,000.

Several other institutional investors and hedge funds have also recently modified their holdings of NEOG. BlackRock Inc. purchased a new position in shares of Neogen in the 1st quarter valued at about $451,277,000. Wasatch Advisors LP purchased a new stake in Neogen during the 1st quarter worth approximately $261,916,000. Select Equity Group L.P. purchased a new stake in Neogen during the 1st quarter worth approximately $147,849,000. Brown Capital Management LLC purchased a new stake in Neogen during the 1st quarter worth approximately $108,261,000. Finally, King Luther Capital Management Corp purchased a new stake in Neogen during the 1st quarter worth approximately $107,401,000. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on NEOG shares. Wells Fargo & Company boosted their price objective on Neogen from $22.00 to $28.00 and gave the stock an “overweight” rating in a research note on Monday, August 14th. Piper Sandler cut their price objective on Neogen from $24.00 to $17.50 and set a “neutral” rating for the company in a research note on Monday, October 16th. Finally, StockNews.com lowered Neogen from a “hold” rating to a “sell” rating in a research note on Saturday, October 28th.

Neogen Trading Up 0.8 %

Shares of Neogen stock opened at $16.28 on Tuesday. The stock has a market cap of $3.52 billion, a P/E ratio of -148.00 and a beta of 1.08. The stock’s 50 day simple moving average is $16.84 and its 200-day simple moving average is $19.36. Neogen Co. has a 1-year low of $14.37 and a 1-year high of $24.09. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.23 and a quick ratio of 3.21.

Neogen (NASDAQ:NEOG) last issued its earnings results on Tuesday, October 10th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.08. The business had revenue of $229.00 million for the quarter, compared to analysts’ expectations of $231.10 million. Neogen had a positive return on equity of 3.57% and a negative net margin of 2.89%. The business’s revenue for the quarter was up 72.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.15 EPS. Analysts predict that Neogen Co. will post 0.58 EPS for the current fiscal year.

Insider Activity at Neogen

In related news, VP Jason Warren Lilly sold 1,917 shares of the company’s stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $15.69, for a total value of $30,077.73. Following the transaction, the vice president now directly owns 25,944 shares in the company, valued at $407,061.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Jason Warren Lilly sold 1,917 shares of the company’s stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $15.69, for a total value of $30,077.73. Following the transaction, the vice president now directly owns 25,944 shares in the company, valued at $407,061.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William T. Boehm acquired 2,000 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was acquired at an average price of $16.05 per share, for a total transaction of $32,100.00. Following the completion of the acquisition, the director now directly owns 26,509 shares of the company’s stock, valued at approximately $425,469.45. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 22,000 shares of company stock worth $334,100 and have sold 4,859 shares worth $75,823. 0.71% of the stock is currently owned by insiders.

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.