2 weeks Ago By Defense World Staff
Natixis Advisors LLC trimmed its holdings in Neogen Co. (NASDAQ:NEOG – Free Report) by 7.8% in the fourth quarter, according to its most recent disclosure with the SEC.
The fund owned 88,895 shares of the company’s stock after selling 7,479 shares during the period. Natixis Advisors LLC’s holdings in Neogen were worth $1,079,000 at the end of the most recent reporting period. Several other hedge funds have also made changes to their positions in the business.
Connable Office Inc. raised its stake in Neogen by 5.6% during the 4th 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 last quarter. Inspire Advisors LLC raised its stake in shares of Neogen by 10.
1% during the fourth quarter. Inspire Advisors LLC now owns 14,226 shares of the company’s stock worth $173,000 after purchasing an additional 1,304 shares during the last quarter. Blue Trust Inc.
lifted its holdings in shares of Neogen by 196.7% during the fourth quarter. Blue Trust Inc.
now owns 3,368 shares of the company’s stock worth $41,000 after purchasing an additional 2,233 shares during the period. Commonwealth Equity Services LLC grew its position in Neogen by 6.1% in the 4th quarter.
Commonwealth Equity Services LLC now owns 39,263 shares of the company’s stock valued at $477,000 after buying an additional 2,267 shares during the last quarter. Finally, KBC Group NV increased its stake in Neogen by 39.1% in the 4th quarter.
KBC Group NV now owns 8,464 shares of the company’s stock valued at $103,000 after buying an additional 2,379 shares during the period. Institutional investors and hedge funds own 96.73% of the company’s stock.
Neogen Price PerformanceShares of NASDAQ NEOG opened at $8.45 on Wednesday. The company has a debt-to-equity ratio of 0.
33, a quick ratio of 2.46 and a current ratio of 3.77.
Neogen Co. has a one year low of $8.44 and a one year high of $18.
58. The firm has a market capitalization of $1.83 billion, a P/E ratio of -3.
86 and a beta of 1.27. The company’s fifty day moving average is $10.
31 and its two-hundred day moving average is $12.86. Neogen (NASDAQ:NEOG – Get Free Report) 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. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.
89%. The company had revenue of $231.30 million for the quarter, compared to analyst estimates of $227.
16 million. During the same period in the prior year, the business posted $0.11 earnings per share.
The firm’s revenue for the quarter was up .7% compared to the same quarter last year. Analysts forecast that Neogen Co.
will post 0.38 EPS for the current fiscal year. Insider Activity at NeogenIn other Neogen news, CEO John Edward Adent acquired 23,035 shares of the company’s stock in a transaction dated Thursday, January 16th.
The stock was 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 directly owns 269,164 shares in the company, valued at approximately $2,968,878.92. This trade represents a 9.
36 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CFO David H.
Naemura bought 14,800 shares of Neogen 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 purchase, the chief financial officer now 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.
1.13% of the stock is currently owned by company insiders. Analyst Upgrades and DowngradesSeveral brokerages have recently weighed in on NEOG.
Piper Sandler reaffirmed a “neutral” rating and issued a $13.00 target price (down previously from $16.50) on shares of Neogen in a report on Tuesday, January 21st.
Guggenheim began coverage on Neogen in a report on Thursday, December 19th. They issued a “buy” rating and a $15.00 price objective on the stock.
View Our Latest Stock Report on NEOGNeogen Profile (Free Report)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.
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