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

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

A number of other hedge funds have also recently bought and sold shares of NEOG. Select Equity Group L.P. boosted its position in shares of Neogen by 23.1% in the 2nd quarter. Select Equity Group L.P. now owns 15,530,439 shares of the company’s stock valued at $242,741,000 after purchasing an additional 2,914,893 shares during the period. Dimensional Fund Advisors LP boosted its position in Neogen by 148.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,109,180 shares of the company’s stock worth $64,229,000 after acquiring an additional 2,454,566 shares during the period. Fred Alger Management LLC boosted its position in Neogen by 86.5% during 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 period. Conestoga Capital Advisors LLC boosted its position in Neogen by 24.5% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 8,706,224 shares of the company’s stock worth $146,352,000 after acquiring an additional 1,711,238 shares during the period. Finally, Millennium Management LLC acquired a new stake in Neogen during the 2nd quarter worth about $19,338,000. 96.73% of the stock is owned by institutional investors and hedge funds.

Neogen Stock Down 2.3 %

NEOG opened at $11.47 on Friday. Neogen Co. has a fifty-two week low of $10.72 and a fifty-two week high of $18.58. The business has a 50-day moving average of $12.79 and a 200-day moving average of $14.82. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.77 and a quick ratio of 2.46. The company has a market capitalization of $2.49 billion, a PE ratio of -5.24 and a beta of 1.23.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings results on Friday, January 10th. The company reported $0.11 earnings per share 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 during the quarter, compared to the consensus estimate of $227.16 million. During the same period last year, the business earned $0.11 EPS. The business’s quarterly revenue was up .7% on a year-over-year basis. Equities research analysts forecast that Neogen Co. will post 0.41 EPS for the current fiscal year.

Insider Transactions at Neogen

In related news, CEO John Edward Adent acquired 23,035 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were acquired at an average cost of $11.03 per share, with a total value of $254,076.05. Following the purchase, the chief executive officer now 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David H. Naemura acquired 14,800 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was bought at an average cost of $11.11 per share, for a total transaction of $164,428.00. Following the completion of 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 position. The disclosure for this purchase can be found here. Company insiders own 1.13% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on NEOG. Guggenheim began coverage on Neogen in a research report on Thursday, December 19th. They set a “buy” rating and a $15.00 price objective for the company. Piper Sandler restated a “neutral” rating and set a $13.00 price objective (down from $16.50) on shares of Neogen in a research report on Tuesday. Finally, StockNews.com upgraded Neogen to a “sell” rating in a research report on Monday, September 30th.

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.