Inspire Investing LLC Buys 685 Shares of Neogen Co. (NASDAQ:NEOG)

Inspire Investing LLC grew its stake in shares of Neogen Co. (NASDAQ:NEOG) by 2.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,074 shares of the company’s stock after buying an additional 685 shares during the period. Inspire Investing LLC’s holdings in Neogen were worth $408,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NEOG. Covestor Ltd boosted its holdings in Neogen by 173.2% during the first quarter. Covestor Ltd now owns 1,970 shares of the company’s stock worth $31,000 after buying an additional 1,249 shares during the last quarter. Innealta Capital LLC bought a new position in Neogen during the second quarter worth about $46,000. Headlands Technologies LLC boosted its holdings in Neogen by 264.1% during the second quarter. Headlands Technologies LLC now owns 3,397 shares of the company’s stock worth $53,000 after buying an additional 2,464 shares during the last quarter. Family Firm Inc. bought a new position in Neogen during the second quarter worth about $90,000. Finally, Quantum Private Wealth LLC bought a new position in Neogen during the second quarter worth about $156,000. Institutional investors own 96.73% of the company’s stock.

Insider Buying and Selling at Neogen

In other news, Director James P. Tobin purchased 3,000 shares of Neogen stock in a transaction on Tuesday, August 6th. The stock was purchased at an average price of $16.86 per share, with a total value of $50,580.00. Following the transaction, the director now directly owns 23,392 shares in the company, valued at approximately $394,389.12. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on NEOG shares. Piper Sandler raised their target price on Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. StockNews.com raised Neogen to a “sell” rating in a research report on Friday, September 13th.

Neogen Trading Down 0.4 %

NASDAQ NEOG opened at $17.46 on Friday. The firm has a market cap of $3.78 billion, a P/E ratio of 1,746.00 and a beta of 1.21. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.82 and a quick ratio of 2.59. The stock’s 50-day moving average is $16.61 and its 200-day moving average is $15.20. Neogen Co. has a one year low of $11.46 and a one year high of $20.89.

Neogen (NASDAQ:NEOG) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). The business had revenue of $236.80 million for the quarter, compared to analyst estimates of $225.83 million. Neogen had a positive return on equity of 3.09% and a negative net margin of 1.02%. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.14 EPS. Sell-side analysts anticipate that Neogen Co. will post 0.54 earnings per share for the current fiscal year.

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.