Neogen Co. (NASDAQ:NEOG) Shares Purchased by Blair William & Co. IL

Blair William & Co. IL grew its stake in Neogen Co. (NASDAQ:NEOG - Free Report) by 24.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,487,126 shares of the company's stock after buying an additional 678,202 shares during the period. Blair William & Co. IL owned 1.61% of Neogen worth $54,504,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. William Blair Investment Management LLC boosted its holdings in Neogen by 64.7% in the second 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 during the last quarter. Baillie Gifford & Co. lifted its stake in shares of Neogen by 42.3% in the 1st quarter. Baillie Gifford & Co. now owns 11,789,521 shares of the company's stock valued at $186,039,000 after purchasing an additional 3,502,807 shares during the period. Dimensional Fund Advisors LP grew its position in Neogen by 148.3% during the second quarter. Dimensional Fund Advisors LP now owns 4,109,180 shares of the company's stock valued at $64,229,000 after buying an additional 2,454,566 shares during the period. Vanguard Group Inc. raised its position in shares of Neogen by 9.3% in the fourth quarter. Vanguard Group Inc. now owns 19,546,737 shares of the company's stock worth $393,085,000 after acquiring an additional 1,663,125 shares during the period. Finally, Bamco Inc. NY boosted its stake in shares of Neogen by 10.3% during the 1st quarter. Bamco Inc. NY now owns 7,304,967 shares of the company's stock worth $115,272,000 after acquiring an additional 680,668 shares in the last quarter. 96.73% of the stock is currently owned by institutional investors and hedge funds.

Neogen Trading Up 1.7 %

Neogen stock traded up $0.29 during trading on Thursday, reaching $17.53. 1,857,587 shares of the company were exchanged, compared to its average volume of 1,993,531. The stock's 50 day simple moving average is $16.58 and its two-hundred day simple moving average is $15.18. The company has a market capitalization of $3.80 billion, a P/E ratio of 1,738.00 and a beta of 1.21. 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 52-week low of $11.46 and a 52-week high of $20.89.

Neogen (NASDAQ:NEOG - Get Free Report) last posted 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 positive return on equity of 3.09% and a negative net margin of 1.02%. The company had revenue of $236.80 million for the quarter, compared to analysts' expectations of $225.83 million. During the same quarter in the prior year, the firm earned $0.14 EPS. The firm's revenue was down 2.1% on a year-over-year basis. On average, equities research analysts expect that Neogen Co. will post 0.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on NEOG shares. Piper Sandler lifted their price target on shares of Neogen from $17.00 to $17.50 and gave the company a "neutral" rating in a research note on Tuesday, August 6th. StockNews.com upgraded shares of Neogen to a "sell" rating in a research report on Friday, September 13th.

Insider Buying and Selling at Neogen

In other news, Director James P. Tobin purchased 3,000 shares of the business's stock in a transaction dated Tuesday, August 6th. The stock was acquired at an average price of $16.86 per share, for a total transaction of $50,580.00. Following the acquisition, the director now directly owns 23,392 shares of the company's stock, valued at $394,389.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.71% of the stock is currently owned by company 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.