California Public Employees Retirement System Sells 19,737 Shares of Neogen Co. (NASDAQ:NEOG)

California Public Employees Retirement System reduced its position in Neogen Co. (NASDAQ:NEOG) by 6.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 300,675 shares of the company’s stock after selling 19,737 shares during the quarter. California Public Employees Retirement System owned approximately 0.14% of Neogen worth $6,047,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Baillie Gifford & Co. bought a new position in shares of Neogen in the fourth quarter worth approximately $166,646,000. Conestoga Capital Advisors LLC boosted its position in shares of Neogen by 4.0% in the fourth quarter. Conestoga Capital Advisors LLC now owns 6,817,600 shares of the company’s stock worth $137,102,000 after purchasing an additional 265,075 shares during the period. Mackenzie Financial Corp boosted its position in shares of Neogen by 9.3% in the fourth quarter. Mackenzie Financial Corp now owns 5,868,784 shares of the company’s stock worth $118,021,000 after purchasing an additional 497,856 shares during the period. William Blair Investment Management LLC boosted its position in shares of Neogen by 6.8% in the third quarter. William Blair Investment Management LLC now owns 4,795,526 shares of the company’s stock worth $88,909,000 after purchasing an additional 306,111 shares during the period. Finally, Blair William & Co. IL boosted its position in shares of Neogen by 6.5% during the third quarter. Blair William & Co. IL now owns 3,583,502 shares of the company’s stock worth $66,438,000 after acquiring an additional 217,419 shares during the last quarter. 96.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Neogen

In other Neogen news, Director James C. Borel acquired 7,500 shares of the stock in a transaction on Thursday, April 11th. The stock was acquired at an average price of $13.06 per share, for a total transaction of $97,950.00. Following the completion of the transaction, the director now directly owns 21,392 shares of the company’s stock, valued at $279,379.52. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Neogen news, CEO John Edward Adent acquired 23,000 shares of the stock in a transaction on Wednesday, April 10th. The stock was acquired at an average price of $12.36 per share, for a total transaction of $284,280.00. Following the completion of the transaction, the chief executive officer now directly owns 152,389 shares of the company’s stock, valued at $1,883,528.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James C. Borel bought 7,500 shares of Neogen stock in a transaction dated Thursday, April 11th. The stock was purchased at an average cost of $13.06 per share, for a total transaction of $97,950.00. Following the purchase, the director now owns 21,392 shares of the company’s stock, valued at approximately $279,379.52. The disclosure for this purchase can be found here. Insiders acquired 53,000 shares of company stock worth $662,205 over the last 90 days. 0.71% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, Piper Sandler dropped their target price on shares of Neogen from $19.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, April 15th.

Neogen Price Performance

Shares of NASDAQ:NEOG opened at $12.02 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.66 and a current ratio of 3.82. The firm has a fifty day moving average price of $14.41 and a 200 day moving average price of $16.22. Neogen Co. has a fifty-two week low of $11.46 and a fifty-two week high of $24.09. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of 1,203.20 and a beta of 1.18.

Neogen (NASDAQ:NEOG) last issued its earnings results on Tuesday, April 9th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). Neogen had a return on equity of 3.35% and a net margin of 0.17%. The company had revenue of $228.80 million for the quarter, compared to the consensus estimate of $230.01 million. During the same quarter in the prior year, the company posted $0.12 EPS. Neogen’s revenue was up 4.8% compared to the same quarter last year. As a group, sell-side analysts expect that Neogen Co. will post 0.46 earnings per share for the current fiscal year.

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.