Lindenwold Advisors INC Boosts Position in Neogen Co. (NASDAQ:NEOG)

Lindenwold Advisors INC raised its stake in Neogen Co. (NASDAQ:NEOG) by 19.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,821 shares of the company’s stock after purchasing an additional 2,055 shares during the period. Lindenwold Advisors INC’s holdings in Neogen were worth $216,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Covestor Ltd grew its position in shares of Neogen by 173.2% in the 1st quarter. Covestor Ltd now owns 1,970 shares of the company’s stock valued at $31,000 after buying an additional 1,249 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Neogen by 142.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company’s stock worth $33,000 after purchasing an additional 1,165 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Neogen during the second quarter worth about $46,000. Headlands Technologies LLC lifted its holdings in shares of Neogen by 264.1% in the 2nd quarter. Headlands Technologies LLC now owns 3,397 shares of the company’s stock valued at $53,000 after purchasing an additional 2,464 shares during the last quarter. Finally, Family Firm Inc. acquired a new stake in shares of Neogen in the 2nd quarter valued at about $90,000. Institutional investors and hedge funds own 96.73% of the company’s stock.

Insider Buying and Selling at Neogen

In other news, CEO John Edward Adent bought 14,500 shares of the stock in a transaction dated Friday, October 11th. The shares were acquired at an average price of $13.80 per share, with a total value 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.13% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Piper Sandler boosted their price objective on Neogen from $17.00 to $17.50 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. StockNews.com raised shares of Neogen to a “sell” rating in a report on Monday, September 30th.

Neogen Trading Up 4.1 %

Shares of NEOG opened at $15.20 on Tuesday. The company has a current ratio of 4.41, a quick ratio of 2.79 and a debt-to-equity ratio of 0.28. Neogen Co. has a fifty-two week low of $11.46 and a fifty-two week high of $20.89. The firm has a 50-day simple moving average of $15.29 and a 200-day simple moving average of $15.49.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings data on Thursday, October 10th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). Neogen had a positive return on equity of 2.80% and a negative net margin of 2.58%. The company had revenue of $217.00 million for the quarter, compared to analyst estimates of $215.05 million. During the same period in the previous year, the business posted $0.11 earnings per share. The firm’s revenue was down 5.2% compared to the same quarter last year. Equities analysts forecast that Neogen Co. will post 0.5 EPS for the current year.

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.