Victory Capital Management Inc. Acquires 103,815 Shares of Neogen Co. (NASDAQ:NEOG)

Victory Capital Management Inc. increased its stake in Neogen Co. (NASDAQ:NEOG - Free Report) by 26.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 495,028 shares of the company's stock after acquiring an additional 103,815 shares during the period. Victory Capital Management Inc. owned approximately 0.23% of Neogen worth $7,737,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank bought a new stake in Neogen during the fourth quarter worth approximately $365,794,000. Baillie Gifford & Co. boosted its holdings in Neogen by 42.3% during the first quarter. Baillie Gifford & Co. now owns 11,789,521 shares of the company's stock worth $186,039,000 after buying an additional 3,502,807 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Neogen by 9.3% during the fourth quarter. Vanguard Group Inc. now owns 19,546,737 shares of the company's stock worth $393,085,000 after buying an additional 1,663,125 shares in the last quarter. Bamco Inc. NY boosted its holdings in Neogen by 10.3% during the first quarter. Bamco Inc. NY now owns 7,304,967 shares of the company's stock worth $115,272,000 after buying an additional 680,668 shares in the last quarter. Finally, Trigran Investments Inc. bought a new stake in Neogen during the fourth quarter worth approximately $12,048,000. 96.73% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director James P. Tobin bought 3,000 shares of the business's stock in a transaction on Tuesday, August 6th. The stock was bought at an average price of $16.86 per share, for a total transaction of $50,580.00. Following the transaction, the director now directly owns 23,392 shares in the company, valued at $394,389.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.71% of the company's stock.

Neogen Trading Up 1.3 %

Shares of NASDAQ:NEOG traded up $0.21 during mid-day trading on Monday, hitting $16.34. The stock had a trading volume of 942,579 shares, compared to its average volume of 1,997,126. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.59 and a current ratio of 3.82. The company has a market cap of $3.54 billion, a PE ratio of 1,613.00 and a beta of 1.21. Neogen Co. has a 12-month low of $11.46 and a 12-month high of $20.89. The company's 50 day moving average is $16.47 and its 200-day moving average is $15.18.

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

Analyst Ratings Changes

NEOG has been the subject of several research analyst reports. 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. StockNews.com upgraded shares of Neogen to a "sell" rating in a research report on Friday.

Neogen Profile

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.