Beacon Investment Advisory Services Inc. Sells 17,688 Shares of Neogen Co. (NASDAQ:NEOG)

Beacon Investment Advisory Services Inc. lowered its position in Neogen Co. (NASDAQ:NEOG) by 9.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 160,326 shares of the company’s stock after selling 17,688 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Neogen were worth $1,946,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its holdings in Neogen by 27.0% during the second quarter. Envestnet Asset Management Inc. now owns 418,839 shares of the company’s stock valued at $6,546,000 after buying an additional 89,034 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Neogen by 148.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,109,180 shares of the company’s stock valued at $64,229,000 after acquiring an additional 2,454,566 shares during the period. Intech Investment Management LLC purchased a new stake in shares of Neogen in the 2nd quarter worth $454,000. Sei Investments Co. raised its holdings in Neogen by 4.7% in the 2nd quarter. Sei Investments Co. now owns 433,825 shares of the company’s stock worth $6,781,000 after purchasing an additional 19,589 shares during the period. Finally, Bank of Montreal Can lifted its position in Neogen by 77.1% during the second quarter. Bank of Montreal Can now owns 78,633 shares of the company’s stock valued at $1,266,000 after purchasing an additional 34,234 shares in the last quarter. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. StockNews.com upgraded Neogen to a “sell” rating in a research report on Monday, September 30th. Guggenheim initiated coverage on shares of Neogen in a research note on Thursday, December 19th. They set a “buy” rating and a $15.00 target price on the stock. Finally, Piper Sandler reiterated a “neutral” rating and issued a $13.00 price target (down from $16.50) on shares of Neogen in a research report on Tuesday.

Neogen Stock Up 1.8 %

Shares of Neogen stock opened at $11.95 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.46 and a current ratio of 3.77. The stock’s 50-day simple moving average is $12.91 and its 200-day simple moving average is $14.87. Neogen Co. has a 52 week low of $10.72 and a 52 week high of $18.58.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings results on Friday, January 10th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.12. Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. The company had revenue of $231.30 million for the quarter, compared to analysts’ expectations of $227.16 million. During the same period in the previous year, the firm earned $0.11 EPS. The firm’s revenue was up .7% compared to the same quarter last year. As a group, research analysts predict that Neogen Co. will post 0.41 EPS for the current year.

Insider Transactions at Neogen

In other news, CEO John Edward Adent acquired 23,035 shares of Neogen stock in a transaction on Thursday, January 16th. The shares were acquired at an average price of $11.03 per share, with a total value of $254,076.05. Following the purchase, the chief executive officer now directly owns 269,164 shares in the company, valued at $2,968,878.92. The trade was a 9.36 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David H. Naemura bought 14,800 shares of the stock in a transaction dated Thursday, January 16th. The shares were purchased at an average price of $11.11 per share, with a total value of $164,428.00. Following the completion of the transaction, the chief financial officer now directly owns 61,434 shares in the company, valued at approximately $682,531.74. The trade was a 31.74 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.13% of the company’s stock.

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.