Blue Trust Inc. Has $41,000 Stock Holdings in Neogen Co. (NASDAQ:NEOG)

Blue Trust Inc. boosted its stake in shares of Neogen Co. (NASDAQ:NEOG) by 196.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,368 shares of the company’s stock after acquiring an additional 2,233 shares during the quarter. Blue Trust Inc.’s holdings in Neogen were worth $41,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NEOG. Fred Alger Management LLC lifted its position in shares of Neogen by 86.5% during the third quarter. Fred Alger Management LLC now owns 3,986,744 shares of the company’s stock worth $67,017,000 after purchasing an additional 1,849,427 shares in the last quarter. Conestoga Capital Advisors LLC lifted its holdings in Neogen by 24.5% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 8,706,224 shares of the company’s stock worth $146,352,000 after buying an additional 1,711,238 shares in the last quarter. American Capital Management Inc. boosted its position in Neogen by 36.5% in the 3rd quarter. American Capital Management Inc. now owns 3,414,700 shares of the company’s stock valued at $57,401,000 after buying an additional 913,604 shares during the last quarter. Champlain Investment Partners LLC increased its stake in shares of Neogen by 10.7% in the 3rd quarter. Champlain Investment Partners LLC now owns 7,110,530 shares of the company’s stock valued at $119,528,000 after buying an additional 690,029 shares during the period. Finally, Harbor Capital Advisors Inc. raised its position in shares of Neogen by 148.0% during the third quarter. Harbor Capital Advisors Inc. now owns 987,008 shares of the company’s stock worth $16,592,000 after acquiring an additional 588,962 shares during the last quarter. Institutional investors and hedge funds own 96.73% of the company’s stock.

Neogen Stock Performance

Shares of NASDAQ:NEOG opened at $10.37 on Monday. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of -4.74 and a beta of 1.23. The firm’s 50 day simple moving average is $12.08 and its 200 day simple moving average is $14.42. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.77 and a quick ratio of 2.46. Neogen Co. has a fifty-two week low of $10.27 and a fifty-two week high of $18.58.

Neogen (NASDAQ:NEOG) last posted 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 business had revenue of $231.30 million during the quarter, compared to analysts’ expectations of $227.16 million. Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. Neogen’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.11 EPS. As a group, sell-side analysts forecast that Neogen Co. will post 0.38 earnings per share for the current year.

Analysts Set New Price Targets

NEOG has been the topic of several recent research reports. Piper Sandler reiterated a “neutral” rating and issued a $13.00 price target (down previously from $16.50) on shares of Neogen in a report on Tuesday, January 21st. Guggenheim assumed coverage on shares of Neogen in a research note on Thursday, December 19th. They issued a “buy” rating and a $15.00 target price on the stock.

Insider Transactions at Neogen

In other Neogen news, CFO David H. Naemura purchased 14,800 shares of Neogen stock in a transaction that occurred on Thursday, January 16th. The stock was acquired at an average price of $11.11 per share, for a total transaction of $164,428.00. Following the completion of the acquisition, the chief financial officer now owns 61,434 shares of the company’s stock, valued at approximately $682,531.74. This trade represents a 31.74 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John Edward Adent acquired 23,035 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 269,164 shares of the company’s stock, valued at approximately $2,968,878.92. This trade represents a 9.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.13% of the company’s stock.

Neogen Company 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.