Nisa Investment Advisors LLC Trims Stock Position in Neogen Co. (NASDAQ:NEOG)

Nisa Investment Advisors LLC reduced its position in Neogen Co. (NASDAQ:NEOG) by 11.4% in the 4th quarter, HoldingsChannel.com reports. The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of NEOG. Citigroup Inc. grew its position in shares of Neogen by 129.1% in the third quarter. Citigroup Inc. now owns 231,833 shares of the company’s stock valued at $3,897,000 after purchasing an additional 130,641 shares during the period. American Capital Management Inc. boosted its stake in Neogen by 36.5% during the third 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. State Street Corp grew its holdings in shares of Neogen by 3.1% in the third quarter. State Street Corp now owns 7,932,192 shares of the company’s stock valued at $133,340,000 after purchasing an additional 236,762 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Neogen by 17.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,166 shares of the company’s stock valued at $642,000 after buying an additional 5,804 shares during the period. Finally, Barclays PLC increased its stake in Neogen by 129.8% during the third quarter. Barclays PLC now owns 366,753 shares of the company’s stock worth $6,165,000 after acquiring an additional 207,160 shares during the last quarter. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Insider Activity at Neogen

In related news, CEO John Edward Adent bought 23,035 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were acquired at an average cost of $11.03 per share, with a total value of $254,076.05. Following the completion of the transaction, the chief executive officer now owns 269,164 shares of the company’s stock, valued at approximately $2,968,878.92. The trade was a 9.36 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO David H. Naemura acquired 14,800 shares of Neogen stock in a transaction dated Thursday, January 16th. The stock was purchased at an average cost of $11.11 per share, for a total transaction of $164,428.00. Following the completion of the purchase, the chief financial officer now directly owns 61,434 shares in the company, valued at approximately $682,531.74. This represents a 31.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.13% of the stock is owned by insiders.

Neogen Stock Performance

Shares of Neogen stock opened at $11.50 on Thursday. The firm has a market capitalization of $2.49 billion, a P/E ratio of -5.25 and a beta of 1.23. The company has a quick ratio of 2.46, a current ratio of 3.77 and a debt-to-equity ratio of 0.33. Neogen Co. has a 52 week low of $10.72 and a 52 week high of $18.58. The firm’s 50 day moving average is $12.58 and its two-hundred day moving average is $14.73.

Neogen (NASDAQ:NEOG) last announced 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. The business had revenue of $231.30 million during the quarter, compared to the consensus estimate of $227.16 million. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.11 earnings per share. Research analysts forecast that Neogen Co. will post 0.41 EPS for the current fiscal year.

Analysts Set New Price Targets

NEOG has been the topic of a number of research analyst reports. Piper Sandler reissued a “neutral” rating and issued a $13.00 price target (down from $16.50) on shares of Neogen in a research note on Tuesday, January 21st. Guggenheim initiated coverage on Neogen in a research report on Thursday, December 19th. They set a “buy” rating and a $15.00 price objective for the company.

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.