Pacer Advisors Inc. Trims Holdings in Neogen Co. (NASDAQ:NEOG)

Pacer Advisors Inc. decreased its position in Neogen Co. (NASDAQ:NEOG) by 25.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,390 shares of the company’s stock after selling 10,167 shares during the period. Pacer Advisors Inc.’s holdings in Neogen were worth $357,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in NEOG. KBC Group NV lifted its stake in Neogen by 39.1% during the fourth quarter. KBC Group NV now owns 8,464 shares of the company’s stock worth $103,000 after purchasing an additional 2,379 shares in the last quarter. Blue Trust Inc. increased its position 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 acquiring an additional 2,233 shares during the period. Inspire Investing LLC raised its stake in shares of Neogen by 30.9% in the fourth quarter. Inspire Investing LLC now owns 36,383 shares of the company’s stock valued at $442,000 after acquiring an additional 8,580 shares in the last quarter. Avanza Fonder AB acquired a new stake in Neogen in the 4th quarter valued at about $169,000. Finally, Procyon Advisors LLC grew its position in shares of Neogen by 22.3% during the fourth quarter. Procyon Advisors LLC now owns 35,513 shares of the company’s stock worth $431,000 after buying an additional 6,467 shares in the last quarter. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Neogen

In related news, CFO David H. Naemura acquired 14,800 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were 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 directly owns 61,434 shares in the company, valued at approximately $682,531.74. The trade was a 31.74 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO John Edward Adent bought 23,035 shares of the stock in a transaction that occurred 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 acquisition, the chief executive officer now owns 269,164 shares of the company’s stock, valued at $2,968,878.92. This trade 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.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NEOG. Guggenheim assumed coverage on Neogen in a research report on Thursday, December 19th. They issued a “buy” rating and a $15.00 price target on the stock. Piper Sandler reissued 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.

Neogen Price Performance

Neogen stock opened at $10.64 on Wednesday. The stock has a market capitalization of $2.31 billion, a P/E ratio of -4.86 and a beta of 1.23. Neogen Co. has a 12-month low of $10.60 and a 12-month 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 firm’s 50-day moving average is $12.29 and its two-hundred day moving average is $14.55.

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