Inspire Investing LLC Buys 8,580 Shares of Neogen Co. (NASDAQ:NEOG)

Inspire Investing LLC boosted its holdings in Neogen Co. (NASDAQ:NEOG) by 30.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,383 shares of the company’s stock after buying an additional 8,580 shares during the period. Inspire Investing LLC’s holdings in Neogen were worth $442,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Citigroup Inc. increased its position in Neogen by 129.1% in the 3rd quarter. Citigroup Inc. now owns 231,833 shares of the company’s stock worth $3,897,000 after buying an additional 130,641 shares during the period. American Capital Management Inc. increased its position in 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 period. Susquehanna Fundamental Investments LLC bought a new position in Neogen in the 2nd quarter worth approximately $5,714,000. State Street Corp increased its position in 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 buying an additional 236,762 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Neogen by 17.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,166 shares of the company’s stock worth $642,000 after buying an additional 5,804 shares during the period. 96.73% of the stock is owned by institutional investors.

Insider Activity at Neogen

In related news, CFO David H. Naemura purchased 14,800 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were acquired at an average price of $11.11 per share, with a total value of $164,428.00. Following the purchase, the chief financial officer now directly owns 61,434 shares in the company, valued at $682,531.74. This represents a 31.74 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO John Edward Adent purchased 23,035 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was bought at an average cost of $11.03 per share, for a total transaction of $254,076.05. Following the purchase, the chief executive officer now owns 269,164 shares in the company, valued at $2,968,878.92. This represents a 9.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.13% of the stock is owned by insiders.

Neogen Price Performance

Shares of NASDAQ:NEOG opened at $11.47 on Friday. Neogen Co. has a 1-year low of $10.72 and a 1-year high of $18.58. The firm has a market capitalization of $2.49 billion, a PE ratio of -5.24 and a beta of 1.23. The business’s 50 day moving average is $12.79 and its 200-day moving average is $14.82. The company has a current ratio of 3.77, a quick ratio of 2.46 and a debt-to-equity ratio of 0.33.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings results on Friday, January 10th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.12. The business had revenue of $231.30 million for 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%. Neogen’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.11 EPS. Sell-side analysts predict that Neogen Co. will post 0.41 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on NEOG shares. Guggenheim began coverage on Neogen in a research report on Thursday, December 19th. They issued a “buy” rating and a $15.00 price target on the stock. StockNews.com raised Neogen to a “sell” rating in a report on Monday, September 30th. Finally, Piper Sandler reissued a “neutral” rating and set a $13.00 price objective (down previously from $16.50) on shares of Neogen in a report on Tuesday.

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.