Harbour Investments Inc. Purchases Shares of 2,248 Neogen Co. (NASDAQ:NEOG)

Harbour Investments Inc. acquired a new position in Neogen Co. (NASDAQ:NEOG) in the 4th quarter, Holdings Channel.com reports. The firm acquired 2,248 shares of the company’s stock, valued at approximately $27,000.

Several other institutional investors have also recently made changes to their positions in NEOG. Connable Office Inc. raised its holdings in Neogen by 5.6% during the fourth quarter. Connable Office Inc. now owns 18,793 shares of the company’s stock valued at $228,000 after acquiring an additional 1,000 shares during the period. Inspire Advisors LLC boosted its position in shares of Neogen by 10.1% during the 4th quarter. Inspire Advisors LLC now owns 14,226 shares of the company’s stock valued at $173,000 after acquiring an additional 1,304 shares during the last quarter. Blue Trust Inc. lifted its position in Neogen by 196.7% during the fourth quarter. Blue Trust Inc. now owns 3,368 shares of the company’s stock valued at $41,000 after purchasing an additional 2,233 shares during the last quarter. Commonwealth Equity Services LLC grew its position in Neogen by 6.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 39,263 shares of the company’s stock worth $477,000 after acquiring an additional 2,267 shares in the last quarter. Finally, KBC Group NV boosted its holdings in shares of 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 purchasing an additional 2,379 shares during the period. Institutional investors own 96.73% of the company’s stock.

Insiders Place Their Bets

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

Analysts Set New Price Targets

NEOG has been the subject of a number of analyst reports. Piper Sandler restated a “neutral” rating and issued a $13.00 price target (down from $16.50) on shares of Neogen in a research report on Tuesday, January 21st. Guggenheim started coverage on shares of Neogen in a report on Thursday, December 19th. They issued a “buy” rating and a $15.00 target price for the company.

Neogen Price Performance

Shares of NEOG stock opened at $8.86 on Tuesday. The stock has a 50 day moving average price of $10.38 and a 200 day moving average price of $12.91. Neogen Co. has a 52-week low of $8.60 and a 52-week high of $18.58. 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 firm has a market capitalization of $1.92 billion, a P/E ratio of -4.05 and a beta of 1.27.

Neogen (NASDAQ:NEOG) last released 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 during the quarter, compared to the consensus estimate 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 last year, the company earned $0.11 earnings per share. As a group, sell-side analysts predict that Neogen Co. will post 0.38 earnings per share 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.