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

Marco Investment Management LLC purchased a new stake in Neogen Co. (NASDAQ:NEOG) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 10,025 shares of the company’s stock, valued at approximately $169,000.

Several other hedge funds have also recently bought and sold shares of the stock. Champlain Investment Partners LLC increased its stake in shares of Neogen by 10.7% during the third quarter. Champlain Investment Partners LLC now owns 7,110,530 shares of the company’s stock worth $119,528,000 after purchasing an additional 690,029 shares during the period. Citigroup Inc. increased its position in Neogen by 129.1% during the 3rd quarter. Citigroup Inc. now owns 231,833 shares of the company’s stock worth $3,897,000 after buying an additional 130,641 shares during the period. Raymond James Trust N.A. acquired a new stake in shares of Neogen during the third quarter worth $182,000. Intech Investment Management LLC boosted its position in shares of Neogen by 126.8% in the third quarter. Intech Investment Management LLC now owns 65,944 shares of the company’s stock valued at $1,109,000 after acquiring an additional 36,871 shares during the period. Finally, Lindenwold Advisors INC grew its stake in shares of Neogen by 19.1% in the third quarter. Lindenwold Advisors INC now owns 12,821 shares of the company’s stock valued at $216,000 after acquiring an additional 2,055 shares in the last quarter. 96.73% of the stock is currently owned by institutional investors and hedge funds.

Neogen Stock Up 2.7 %

Shares of Neogen stock opened at $14.98 on Monday. The firm’s 50-day moving average price is $15.23 and its two-hundred day moving average price is $15.57. The company has a current ratio of 4.41, a quick ratio of 2.79 and a debt-to-equity ratio of 0.28. Neogen Co. has a 12-month low of $11.46 and a 12-month high of $20.89.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings data on Thursday, October 10th. The company reported $0.07 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $217.00 million for the quarter, compared to analyst estimates of $215.05 million. During the same quarter in the prior year, the firm earned $0.11 earnings per share. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. As a group, sell-side analysts predict that Neogen Co. will post 0.5 earnings per share for the current year.

Insider Buying and Selling at Neogen

In related news, CEO John Edward Adent bought 14,500 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were purchased at an average price 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 in the company, valued at $2,987,382.60. This represents a 7.18 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.13% of the company’s stock.

Analysts Set New Price Targets

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

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.