Nisa Investment Advisors LLC Sells 3,210 Shares of Neogen Co. (NASDAQ:NEOG)

Nisa Investment Advisors LLC decreased its holdings in Neogen Co. (NASDAQ:NEOG) by 11.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,048 shares of the company’s stock after selling 3,210 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Neogen were worth $304,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NEOG. Fred Alger Management LLC raised its stake in shares of Neogen by 86.5% during the 3rd quarter. Fred Alger Management LLC now owns 3,986,744 shares of the company’s stock valued at $67,017,000 after purchasing 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 valued at $146,352,000 after buying an additional 1,711,238 shares during the period. Millennium Management LLC bought a new stake in shares of Neogen in the second quarter worth about $19,338,000. American Capital Management Inc. grew its position in shares of Neogen by 36.5% in the 3rd quarter. American Capital Management Inc. now owns 3,414,700 shares of the company’s stock worth $57,401,000 after buying an additional 913,604 shares during the last quarter. Finally, Champlain Investment Partners LLC increased its position in Neogen by 10.7% during the 3rd quarter. Champlain Investment Partners LLC now owns 7,110,530 shares of the company’s stock valued at $119,528,000 after purchasing an additional 690,029 shares during the period. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Piper Sandler reissued a “neutral” rating and issued a $13.00 target price (down previously from $16.50) on shares of Neogen in a research report on Tuesday, January 21st. Guggenheim assumed coverage on Neogen in a report on Thursday, December 19th. They set a “buy” rating and a $15.00 price target on the stock.

Insider Transactions at Neogen

In other news, CEO John Edward Adent bought 23,035 shares of the stock in a transaction on Thursday, January 16th. The stock was bought at an average cost of $11.03 per share, for a total transaction of $254,076.05. Following the completion of the purchase, the chief executive officer now directly owns 269,164 shares in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David H. Naemura purchased 14,800 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was acquired at an average price of $11.11 per share, with a total value of $164,428.00. Following the completion of the purchase, the chief financial officer now owns 61,434 shares of the company’s stock, valued at $682,531.74. The trade was a 31.74 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.13% of the company’s stock.

Neogen Price Performance

Shares of NASDAQ:NEOG opened at $11.50 on Thursday. Neogen Co. has a 1-year low of $10.72 and a 1-year high of $18.58. 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 P/E ratio of -5.25 and a beta of 1.23. The firm’s 50 day simple moving average is $12.58 and its two-hundred day simple moving average is $14.73.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings results on Friday, January 10th. The company reported $0.11 EPS for the quarter, beating 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 analyst estimates of $227.16 million. During the same period in the prior year, the company earned $0.11 earnings per share. The firm’s revenue was up .7% on a year-over-year basis. Research analysts expect that Neogen Co. will post 0.41 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.