Mutual of America Capital Management LLC Raises Stock Position in Neogen Co. (NASDAQ:NEOG)

Mutual of America Capital Management LLC boosted its holdings in shares of Neogen Co. (NASDAQ:NEOG - Free Report) by 44.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 388,954 shares of the company's stock after buying an additional 119,865 shares during the period. Mutual of America Capital Management LLC owned approximately 0.18% of Neogen worth $6,538,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of NEOG. Vanguard Group Inc. increased its holdings in shares of Neogen by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 19,715,974 shares of the company's stock valued at $311,118,000 after acquiring an additional 169,237 shares during the last quarter. Select Equity Group L.P. lifted its position in shares of Neogen by 23.1% during the 2nd quarter. Select Equity Group L.P. now owns 15,530,439 shares of the company's stock worth $242,741,000 after buying an additional 2,914,893 shares during the period. William Blair Investment Management LLC increased its holdings in Neogen by 64.7% during the 2nd quarter. William Blair Investment Management LLC now owns 12,013,072 shares of the company's stock valued at $187,764,000 after purchasing an additional 4,717,696 shares in the last quarter. Conestoga Capital Advisors LLC increased its holdings in Neogen by 24.5% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 8,706,224 shares of the company's stock valued at $146,352,000 after purchasing an additional 1,711,238 shares in the last quarter. Finally, Bamco Inc. NY increased its stake in shares of Neogen by 10.3% in the 1st quarter. Bamco Inc. NY now owns 7,304,967 shares of the company's stock valued at $115,272,000 after buying an additional 680,668 shares during the period. 96.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Neogen

In other Neogen news, CEO John Edward Adent bought 14,500 shares of the stock in a transaction on Friday, October 11th. The shares were acquired at an average price of $13.80 per share, with a total value of $200,100.00. Following the acquisition, the chief executive officer now directly owns 216,477 shares of the company's stock, valued at $2,987,382.60. The trade was a 7.18 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.13% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Piper Sandler raised 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. StockNews.com raised Neogen to a "sell" rating in a research report on Monday, September 30th.

Neogen Price Performance

Shares of NASDAQ NEOG traded down $0.33 during mid-day trading on Wednesday, hitting $14.76. 551,518 shares of the stock traded hands, compared to its average volume of 1,906,897. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.41 and a quick ratio of 2.79. Neogen Co. has a twelve month low of $11.46 and a twelve month high of $20.89. The company has a market cap of $3.20 billion, a PE ratio of -137.18 and a beta of 1.23. The firm has a 50 day simple moving average of $15.28 and a two-hundred day simple moving average of $15.51.

Neogen (NASDAQ:NEOG - Get Free Report) last posted its quarterly earnings data on Thursday, October 10th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.03). Neogen had a positive return on equity of 2.80% and a negative net margin of 2.58%. The business had revenue of $217.00 million during the quarter, compared to the consensus estimate of $215.05 million. During the same period last year, the business posted $0.11 earnings per share. The business's revenue was down 5.2% on a year-over-year basis. As a group, equities research analysts forecast that Neogen Co. will post 0.5 EPS for the current fiscal 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.