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

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

Other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. boosted its holdings in Neogen by 196.7% in the 4th quarter. Blue Trust Inc. now owns 3,368 shares of the company’s stock worth $41,000 after buying an additional 2,233 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in Neogen in the 3rd quarter worth about $66,000. KBC Group NV boosted its holdings in Neogen by 39.1% in the 4th quarter. KBC Group NV now owns 8,464 shares of the company’s stock worth $103,000 after buying an additional 2,379 shares during the last quarter. Marco Investment Management LLC acquired a new stake in Neogen in the 3rd quarter worth about $169,000. Finally, Raymond James Trust N.A. acquired a new stake in Neogen in the 3rd quarter worth about $182,000. 96.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Neogen Trading Down 4.1 %

Shares of Neogen stock opened at $9.48 on Thursday. The stock has a market cap of $2.06 billion, a P/E ratio of -4.33 and a beta of 1.27. The stock’s 50 day simple moving average is $10.95 and its 200-day simple moving average is $13.37. 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 issued its earnings results on Friday, January 10th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.12. The business had revenue of $231.30 million for the quarter, compared to analysts’ expectations of $227.16 million. Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.11 EPS. Analysts predict that Neogen Co. will post 0.38 EPS for the current fiscal year.

Insider Activity

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

Neogen 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.