Neogen Co. (NASDAQ:NEOG) Shares Purchased by Inspire Advisors LLC

Inspire Advisors LLC lifted its holdings in Neogen Co. (NASDAQ:NEOG) by 10.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,226 shares of the company’s stock after purchasing an additional 1,304 shares during the quarter. Inspire Advisors LLC’s holdings in Neogen were worth $173,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. State Street Corp boosted its position in shares of Neogen by 3.1% in the 3rd quarter. State Street Corp now owns 7,932,192 shares of the company’s stock worth $133,340,000 after purchasing an additional 236,762 shares in the last quarter. Bamco Inc. NY boosted its position in shares of Neogen by 1.4% in the 3rd quarter. Bamco Inc. NY now owns 7,303,115 shares of the company’s stock worth $122,765,000 after purchasing an additional 98,067 shares in the last quarter. Champlain Investment Partners LLC boosted its position in shares of Neogen by 10.7% in the 3rd quarter. Champlain Investment Partners LLC now owns 7,110,530 shares of the company’s stock worth $119,528,000 after purchasing an additional 690,029 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Neogen by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 5,148,388 shares of the company’s stock worth $86,559,000 after purchasing an additional 20,387 shares in the last quarter. Finally, Fred Alger Management LLC raised its stake in Neogen by 86.5% in the 3rd quarter. Fred Alger Management LLC now owns 3,986,744 shares of the company’s stock worth $67,017,000 after acquiring an additional 1,849,427 shares during the last quarter. Institutional investors and hedge funds own 96.73% of the company’s stock.

Insider Buying and Selling at Neogen

In other Neogen news, CEO John Edward Adent bought 23,035 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were purchased at an average cost of $11.03 per share, for a total transaction of $254,076.05. Following the transaction, the chief executive officer now directly owns 269,164 shares of the company’s stock, valued at approximately $2,968,878.92. The trade was a 9.36 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO David H. Naemura bought 14,800 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were acquired at an average price of $11.11 per share, for a total transaction 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. This trade represents a 31.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.13% of the company’s stock.

Neogen Stock Performance

Shares of NEOG stock opened at $9.48 on Thursday. The business has a fifty day moving average of $10.95 and a 200 day moving average of $13.37. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of -4.33 and a beta of 1.27. Neogen Co. has a 1 year low of $9.01 and a 1 year high of $18.58. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.77 and a quick ratio of 2.46.

Neogen (NASDAQ:NEOG) last released its quarterly earnings data on Friday, January 10th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.12. The business had revenue of $231.30 million during the quarter, compared to analyst estimates of $227.16 million. Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. The company’s revenue was up .7% on a year-over-year basis. During the same quarter last year, the business posted $0.11 EPS. As a group, research analysts expect that Neogen Co. will post 0.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on NEOG shares. Guggenheim started coverage on Neogen in a research note on Thursday, December 19th. They issued a “buy” rating and a $15.00 target price for the company. Piper Sandler restated a “neutral” rating and issued a $13.00 target price (down previously from $16.50) on shares of Neogen in a research note on Tuesday, January 21st.

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.