Blue Trust Inc. Boosts Stock Holdings in Neogen Co. (NASDAQ:NEOG)

Blue Trust Inc. raised its holdings in Neogen Co. (NASDAQ:NEOG) by 247.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,945 shares of the company’s stock after purchasing an additional 2,810 shares during the quarter. Blue Trust Inc.’s holdings in Neogen were worth $48,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Raymond James & Associates boosted its stake in shares of Neogen by 21.5% in the third quarter. Raymond James & Associates now owns 250,342 shares of the company’s stock valued at $4,208,000 after buying an additional 44,339 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Neogen by 142.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company’s stock valued at $33,000 after acquiring an additional 1,165 shares during the period. International Assets Investment Management LLC boosted its position in shares of Neogen by 1,581.0% during the 3rd quarter. International Assets Investment Management LLC now owns 11,666 shares of the company’s stock worth $196,000 after purchasing an additional 10,972 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of Neogen by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 22,810 shares of the company’s stock worth $383,000 after purchasing an additional 1,550 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of Neogen by 12.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 28,258 shares of the company’s stock worth $475,000 after purchasing an additional 3,123 shares during the period. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on NEOG shares. Piper Sandler reiterated a “neutral” rating and issued a $13.00 price objective (down previously from $16.50) on shares of Neogen in a research note on Tuesday, January 21st. Guggenheim began coverage on shares of Neogen in a research report on Thursday, December 19th. They set a “buy” rating and a $15.00 price target for the company.

Insider Buying and Selling at Neogen

In related news, CEO John Edward Adent purchased 23,035 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was bought at an average price of $11.03 per share, with a total value of $254,076.05. Following the completion of the transaction, the chief executive officer now owns 269,164 shares of the company’s stock, valued at approximately $2,968,878.92. This represents a 9.36 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David H. Naemura purchased 14,800 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was bought at an average cost of $11.11 per share, with a total value of $164,428.00. Following the completion of the acquisition, the chief financial officer now owns 61,434 shares of the company’s stock, valued at approximately $682,531.74. The trade was a 31.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.13% of the company’s stock.

Neogen Stock Down 1.6 %

NEOG opened at $10.14 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.46 and a current ratio of 3.77. The company has a market cap of $2.20 billion, a price-to-earnings ratio of -4.63 and a beta of 1.23. Neogen Co. has a one year low of $9.70 and a one year high of $18.58. The business’s fifty day moving average is $11.42 and its two-hundred day moving average is $13.82.

Neogen (NASDAQ:NEOG) last released its quarterly earnings data on Friday, January 10th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.12. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The business had revenue of $231.30 million for the quarter, compared to analyst estimates of $227.16 million. During the same period in the previous year, the firm earned $0.11 EPS. The business’s revenue for the quarter was up .7% compared to the same quarter last year. Analysts anticipate that Neogen Co. will post 0.38 EPS for the current fiscal 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.