American Century Companies Inc. Raises Stock Position in Neogen Co. (NASDAQ:NEOG)

American Century Companies Inc. raised its holdings in shares of Neogen Co. (NASDAQ:NEOG - Free Report) by 55.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,606,043 shares of the company's stock after purchasing an additional 924,571 shares during the period. American Century Companies Inc. owned approximately 1.20% of Neogen worth $31,637,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Fred Alger Management LLC lifted its holdings in shares of Neogen by 86.5% during the third quarter. Fred Alger Management LLC now owns 3,986,744 shares of the company's stock valued at $67,017,000 after purchasing an additional 1,849,427 shares in the last quarter. William Blair Investment Management LLC lifted its stake in Neogen by 8.1% during the 4th quarter. William Blair Investment Management LLC now owns 14,346,759 shares of the company's stock valued at $174,170,000 after acquiring an additional 1,074,825 shares during the period. American Capital Management Inc. boosted its holdings in shares of Neogen by 36.5% during the 3rd quarter. American Capital Management Inc. now owns 3,414,700 shares of the company's stock valued at $57,401,000 after acquiring an additional 913,604 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of Neogen by 32.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 1,303,465 shares of the company's stock valued at $15,824,000 after acquiring an additional 316,457 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Neogen by 3.1% in the third quarter. State Street Corp now owns 7,932,192 shares of the company's stock worth $133,340,000 after acquiring an additional 236,762 shares during the period. Institutional investors own 96.73% of the company's stock.

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Analyst Ratings Changes

NEOG has been the topic of a number of research analyst reports. Guggenheim assumed coverage on shares of Neogen in a research report on Thursday, December 19th. They set a "buy" rating and a $15.00 price objective on the stock. Piper Sandler reissued a "neutral" rating and set a $13.00 price target (down from $16.50) on shares of Neogen in a report on Tuesday, January 21st.

Insider Transactions at Neogen

In related news, CFO David H. Naemura acquired 14,800 shares of the business's stock in a transaction that occurred on Thursday, January 16th. The stock was bought at an average cost of $11.11 per share, for a total transaction of $164,428.00. Following the purchase, the chief financial officer now owns 61,434 shares in the company, valued at $682,531.74. The trade was a 31.74 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John Edward Adent bought 23,035 shares of the firm's stock in a transaction on Thursday, January 16th. The shares were purchased at an average price of $11.03 per share, for a total transaction of $254,076.05. Following the purchase, the chief executive officer now owns 269,164 shares in the company, valued at $2,968,878.92. This trade represents a 9.36 % increase in their position. The disclosure for this purchase can be found here. 1.13% of the stock is currently owned by company insiders.

Neogen Stock Performance

Shares of NASDAQ NEOG traded up $0.20 during midday trading on Wednesday, hitting $8.59. 4,137,698 shares of the company's stock traded hands, compared to its average volume of 2,273,285. The firm has a fifty day moving average of $9.95 and a 200 day moving average of $12.59. Neogen Co. has a 1 year low of $8.04 and a 1 year high of $18.58. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.46 and a current ratio of 3.77. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of -3.92 and a beta of 1.27.

Neogen (NASDAQ:NEOG - Get Free Report) last announced its earnings results on Friday, January 10th. The company reported $0.11 EPS for the quarter, beating analysts' consensus estimates of ($0.01) by $0.12. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The business had revenue of $231.30 million during the quarter, compared to analysts' expectations of $227.16 million. During the same period in the prior year, the company earned $0.11 earnings per share. The firm's revenue was up .7% on a year-over-year basis. On average, analysts forecast that Neogen Co. will post 0.38 earnings per share for the current 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.