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

Intech Investment Management LLC lifted its stake in shares of Neogen Co. (NASDAQ:NEOG - Free Report) by 126.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,944 shares of the company's stock after acquiring an additional 36,871 shares during the quarter. Intech Investment Management LLC's holdings in Neogen were worth $1,109,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Lindenwold Advisors INC lifted its holdings 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 purchasing an additional 2,055 shares in the last quarter. Mutual of America Capital Management LLC raised its holdings in shares of Neogen by 44.5% during the third quarter. Mutual of America Capital Management LLC now owns 388,954 shares of the company's stock worth $6,538,000 after acquiring an additional 119,865 shares in the last quarter. Natixis Advisors LLC raised its holdings in shares of Neogen by 35.1% during the third quarter. Natixis Advisors LLC now owns 96,374 shares of the company's stock worth $1,620,000 after acquiring an additional 25,061 shares in the last quarter. Connable Office Inc. raised its holdings in shares of Neogen by 77.1% during the third quarter. Connable Office Inc. now owns 17,793 shares of the company's stock worth $299,000 after acquiring an additional 7,744 shares in the last quarter. Finally, Curi RMB Capital LLC raised its holdings in shares of Neogen by 3.2% during the third quarter. Curi RMB Capital LLC now owns 421,244 shares of the company's stock worth $7,081,000 after acquiring an additional 13,126 shares in the last quarter. 96.73% of the stock is owned by institutional investors.

Neogen Stock Performance

Shares of NASDAQ:NEOG traded down $0.03 during midday trading on Thursday, hitting $14.14. The company's stock had a trading volume of 1,306,475 shares, compared to its average volume of 1,904,509. 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 stock's 50 day simple moving average is $15.09 and its 200 day simple moving average is $15.59. Neogen Co. has a fifty-two week low of $11.46 and a fifty-two 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.

Neogen (NASDAQ:NEOG - Get Free Report) last announced 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). The company had revenue of $217.00 million for the quarter, compared to analyst estimates of $215.05 million. Neogen had a negative net margin of 2.58% and a positive return on equity of 2.80%. The firm's quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.11 EPS. As a group, research analysts anticipate that Neogen Co. will post 0.5 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Piper Sandler raised their target price on Neogen from $17.00 to $17.50 and gave the company a "neutral" rating in a report on Tuesday, August 6th. StockNews.com raised Neogen to a "sell" rating in a research report on Monday, September 30th.

Insider Activity

In other Neogen news, CEO John Edward Adent acquired 14,500 shares of Neogen stock in a transaction on Friday, October 11th. The shares were bought 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 trade represents a 7.18 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.13% of the stock is owned by corporate insiders.

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.