American Capital Management Inc. Raises Holdings in Neogen Co. (NASDAQ:NEOG)

American Capital Management Inc. lifted its position in Neogen Co. (NASDAQ:NEOG) by 36.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,414,700 shares of the company’s stock after purchasing an additional 913,604 shares during the period. Neogen comprises about 1.9% of American Capital Management Inc.’s portfolio, making the stock its 23rd biggest holding. American Capital Management Inc. owned about 1.58% of Neogen worth $57,401,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in NEOG. William Blair Investment Management LLC raised its position in shares of Neogen by 64.7% in the second quarter. William Blair Investment Management LLC now owns 12,013,072 shares of the company’s stock worth $187,764,000 after acquiring an additional 4,717,696 shares during the period. Select Equity Group L.P. raised its holdings in Neogen by 23.1% in the 2nd quarter. Select Equity Group L.P. now owns 15,530,439 shares of the company’s stock worth $242,741,000 after purchasing an additional 2,914,893 shares during the period. Dimensional Fund Advisors LP boosted 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 worth $64,229,000 after purchasing an additional 2,454,566 shares in the last quarter. Shapiro Capital Management LLC acquired a new stake in Neogen in the second quarter valued at approximately $31,087,000. Finally, Fred Alger Management LLC raised its stake in shares of Neogen by 86.5% during the 3rd quarter. Fred Alger Management LLC now owns 3,986,744 shares of the company’s stock worth $67,017,000 after buying an additional 1,849,427 shares during the period. 96.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO John Edward Adent bought 14,500 shares of the stock in a transaction on Friday, October 11th. The stock was bought at an average price of $13.80 per share, with a total value of $200,100.00. Following the completion of the purchase, the chief executive officer now directly owns 216,477 shares in the company, valued at $2,987,382.60. This represents a 7.18 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.13% of the company’s stock.

Neogen Price Performance

Shares of NEOG opened at $14.18 on Friday. The company has a quick ratio of 2.79, a current ratio of 4.41 and a debt-to-equity ratio of 0.28. Neogen Co. has a 52-week low of $11.46 and a 52-week high of $20.89. The stock has a fifty day simple moving average of $14.96 and a two-hundred day simple moving average of $15.59.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings results on Thursday, October 10th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). Neogen had a positive return on equity of 2.80% and a negative net margin of 2.58%. The firm had revenue of $217.00 million for the quarter, compared to analyst estimates of $215.05 million. During the same quarter in the prior year, the business earned $0.11 EPS. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. Analysts predict that Neogen Co. will post 0.5 EPS for the current year.

Analysts Set New Price Targets

NEOG has been the subject of a number of research reports. Piper Sandler boosted their target price 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 upgraded shares of Neogen to a “sell” rating in a report on Monday, September 30th.

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.