Tokio Marine Asset Management Co. Ltd. Has $419,000 Position in Neogen Co. (NASDAQ:NEOG)

Tokio Marine Asset Management Co. Ltd. decreased its holdings in Neogen Co. (NASDAQ:NEOG) by 15.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,932 shares of the company’s stock after selling 4,400 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Neogen were worth $419,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Neogen by 67.5% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 616,190 shares of the company’s stock worth $9,723,000 after buying an additional 248,340 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Neogen during the second quarter worth $5,714,000. Oppenheimer Asset Management Inc. lifted its holdings in shares of Neogen by 39.8% during the second 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 period. Vanguard Group Inc. boosted its stake in shares of Neogen by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 19,715,974 shares of the company’s stock valued at $311,118,000 after purchasing an additional 169,237 shares in the last quarter. Finally, William Blair Investment Management LLC grew its holdings in shares of Neogen by 64.7% in the 2nd quarter. William Blair Investment Management LLC now owns 12,013,072 shares of the company’s stock worth $187,764,000 after purchasing an additional 4,717,696 shares during the last quarter. 96.73% of the stock is owned by institutional investors.

Neogen Stock Down 0.3 %

Shares of NASDAQ:NEOG opened at $14.60 on Friday. The company has a 50 day moving average of $15.29 and a 200-day moving average of $15.45. Neogen Co. has a one year low of $11.46 and a one year high of $20.89. The stock 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). The company had revenue of $217.00 million for the quarter, compared to the consensus estimate of $215.05 million. Neogen had a positive return on equity of 2.80% and a negative net margin of 2.58%. Neogen’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the business posted $0.11 EPS. On average, sell-side analysts forecast that Neogen Co. will post 0.5 earnings per share for the current year.

Insider Transactions at Neogen

In related 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 acquired at an average cost of $13.80 per share, for a total transaction of $200,100.00. Following the completion of the acquisition, the chief executive officer now directly owns 216,477 shares in the company, valued at approximately $2,987,382.60. The trade was a 7.18 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.13% of the stock is currently owned by insiders.

Analyst Ratings Changes

NEOG has been the topic of a number of research analyst reports. Piper Sandler increased their price target on Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. StockNews.com upgraded Neogen to a “sell” rating in a research note on Monday, September 30th.

Neogen Company 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.