William Blair Investment Management LLC Purchases 4,717,696 Shares of Neogen Co. (NASDAQ:NEOG)

William Blair Investment Management LLC lifted its position in Neogen Co. (NASDAQ:NEOG - Free Report) by 64.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,013,072 shares of the company's stock after purchasing an additional 4,717,696 shares during the quarter. William Blair Investment Management LLC owned about 5.55% of Neogen worth $187,764,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Neogen by 67.5% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 616,190 shares of the company's stock worth $9,723,000 after purchasing an additional 248,340 shares during the period. Trigran Investments Inc. bought a new position in Neogen in the fourth quarter valued at $12,048,000. SG Americas Securities LLC increased its stake in Neogen by 277.1% in the first quarter. SG Americas Securities LLC now owns 45,558 shares of the company's stock valued at $719,000 after acquiring an additional 33,478 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Neogen by 73.4% in the first quarter. BNP Paribas Financial Markets now owns 115,830 shares of the company's stock valued at $1,828,000 after acquiring an additional 49,041 shares during the last quarter. Finally, Connable Office Inc. bought a new position in Neogen in the fourth quarter valued at $202,000. Institutional investors own 96.73% of the company's stock.

Neogen Trading Up 4.1 %

NASDAQ NEOG traded up $0.63 during trading on Friday, hitting $16.13. 697,842 shares of the company's stock traded hands, compared to its average volume of 2,003,084. The stock has a fifty day moving average of $16.47 and a two-hundred day moving average of $15.19. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.82 and a quick ratio of 2.59. Neogen Co. has a 12-month low of $11.46 and a 12-month high of $21.88. The firm has a market cap of $3.49 billion, a P/E ratio of 1,613.00 and a beta of 1.21.

Neogen (NASDAQ:NEOG - Get Free Report) last posted its earnings results on Tuesday, July 30th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.02). The business had revenue of $236.80 million during the quarter, compared to the consensus estimate of $225.83 million. Neogen had a positive return on equity of 3.09% and a negative net margin of 1.02%. The firm's revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.14 earnings per share. As a group, sell-side analysts expect that Neogen Co. will post 0.54 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on NEOG shares. StockNews.com raised Neogen to a "sell" rating in a research note on Friday. Piper Sandler upped their price target on shares of Neogen from $17.00 to $17.50 and gave the company a "neutral" rating in a research report on Tuesday, August 6th.

Insider Buying and Selling

In other news, Director James P. Tobin acquired 3,000 shares of the business's stock in a transaction on Tuesday, August 6th. The shares were acquired at an average cost of $16.86 per share, with a total value of $50,580.00. Following the transaction, the director now owns 23,392 shares in the company, valued at approximately $394,389.12. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 0.71% of the stock is owned by 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.