Retirement Systems of Alabama Sells 3,747 Shares of Neogen Co. (NASDAQ:NEOG)

Retirement Systems of Alabama trimmed its position in Neogen Co. (NASDAQ:NEOG) by 1.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 239,539 shares of the company’s stock after selling 3,747 shares during the quarter. Retirement Systems of Alabama’s holdings in Neogen were worth $4,027,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Citigroup Inc. raised its stake in Neogen by 129.1% during the third quarter. Citigroup Inc. now owns 231,833 shares of the company’s stock valued at $3,897,000 after purchasing an additional 130,641 shares in the last quarter. American Capital Management Inc. increased its holdings in shares of Neogen by 36.5% in the 3rd quarter. American Capital Management Inc. now owns 3,414,700 shares of the company’s stock worth $57,401,000 after buying an additional 913,604 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Neogen during the 2nd quarter valued at about $5,714,000. Oppenheimer Asset Management Inc. lifted its holdings in shares of Neogen by 39.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 103,611 shares of the company’s stock valued at $1,619,000 after acquiring an additional 29,489 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Neogen by 17.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,166 shares of the company’s stock worth $642,000 after acquiring an additional 5,804 shares in the last quarter. 96.73% of the stock is owned by institutional investors.

Insider Transactions at Neogen

In other news, CEO John Edward Adent acquired 14,500 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The shares were 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 trade represents a 7.18 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. StockNews.com upgraded Neogen to a “sell” rating in a research report on Monday, September 30th. Guggenheim started coverage on Neogen in a report on Thursday. They set a “buy” rating and a $15.00 price target on the stock.

Neogen Stock Up 3.3 %

Shares of NASDAQ:NEOG opened at $12.02 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.41 and a quick ratio of 2.79. The business has a 50 day simple moving average of $14.08 and a two-hundred day simple moving average of $15.52. Neogen Co. has a 1 year low of $11.46 and a 1 year high of $20.89. The firm has a market capitalization of $2.60 billion, a PE ratio of -109.27 and a beta of 1.21.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings data 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 negative net margin of 2.58% and a positive return on equity of 2.80%. The business had revenue of $217.00 million for the quarter, compared to analysts’ expectations of $215.05 million. During the same quarter in the previous year, the firm earned $0.11 EPS. Neogen’s revenue was down 5.2% compared to the same quarter last year. On average, equities analysts predict that Neogen Co. will post 0.5 EPS for the current year.

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.