Oppenheimer Asset Management Inc. Buys 26,478 Shares of Neogen Co. (NASDAQ:NEOG)

Oppenheimer Asset Management Inc. raised its stake in shares of Neogen Co. (NASDAQ:NEOG) by 25.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 130,089 shares of the company’s stock after purchasing an additional 26,478 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Neogen were worth $2,187,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in NEOG. Inspire Investing LLC increased its stake in Neogen by 2.7% during the second quarter. Inspire Investing LLC now owns 26,074 shares of the company’s stock valued at $408,000 after acquiring an additional 685 shares during the period. Bessemer Group Inc. lifted its position in shares of Neogen by 1.2% in the 1st quarter. Bessemer Group Inc. now owns 73,920 shares of the company’s stock worth $1,166,000 after acquiring an additional 851 shares during the period. Stephens Inc. AR grew its holdings in shares of Neogen by 2.6% during the 3rd quarter. Stephens Inc. AR now owns 35,930 shares of the company’s stock worth $604,000 after purchasing an additional 909 shares in the last quarter. Arizona State Retirement System increased its position in shares of Neogen by 1.9% during the second quarter. Arizona State Retirement System now owns 57,609 shares of the company’s stock valued at $900,000 after purchasing an additional 1,079 shares during the period. Finally, Swiss National Bank raised its stake in shares of Neogen by 0.3% in the first quarter. Swiss National Bank now owns 406,137 shares of the company’s stock valued at $6,409,000 after purchasing an additional 1,100 shares in the last quarter. Institutional investors and hedge funds own 96.73% of the company’s stock.

Neogen Price Performance

Shares of NEOG stock opened at $14.60 on Friday. The stock’s fifty day simple moving average is $15.29 and its 200 day simple moving average is $15.45. Neogen Co. has a one year low of $11.46 and a one year high of $20.89. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of -132.73 and a beta of 1.23. 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 (NASDAQ:NEOG) last issued its earnings results on Thursday, October 10th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.03). The firm had revenue of $217.00 million during the quarter, compared to analyst estimates of $215.05 million. Neogen had a negative net margin of 2.58% and a positive return on equity of 2.80%. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.11 EPS. On average, analysts expect that Neogen Co. will post 0.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NEOG shares. Piper Sandler lifted their price target on shares of Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. StockNews.com raised shares of Neogen to a “sell” rating in a research note on Monday, September 30th.

Insider Transactions at Neogen

In other Neogen news, CEO John Edward Adent bought 14,500 shares of Neogen stock in a transaction dated Friday, October 11th. The shares were acquired at an average cost 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.13% of the company’s stock.

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.