Neogen Co. (NASDAQ:NEOG) Shares Purchased by American Capital Advisory LLC

American Capital Advisory LLC grew its position in shares of Neogen Co. (NASDAQ:NEOG - Free Report) by 291.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,213 shares of the company's stock after purchasing an additional 39,623 shares during the quarter. American Capital Advisory LLC's holdings in Neogen were worth $646,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in NEOG. Allspring Global Investments Holdings LLC increased its stake in Neogen by 142.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company's stock valued at $33,000 after purchasing an additional 1,165 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Neogen by 196.7% during the 4th quarter. Blue Trust Inc. now owns 3,368 shares of the company's stock valued at $41,000 after acquiring an additional 2,233 shares during the last quarter. Neo Ivy Capital Management bought a new position in shares of Neogen during the 3rd quarter valued at about $66,000. KBC Group NV lifted its stake in shares of Neogen by 39.1% in the 4th quarter. KBC Group NV now owns 8,464 shares of the company's stock valued at $103,000 after acquiring an additional 2,379 shares during the last quarter. Finally, Marco Investment Management LLC purchased a new position in Neogen during the 3rd quarter valued at about $169,000. 96.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on NEOG shares. Piper Sandler restated a "neutral" rating and issued a $13.00 price objective (down previously from $16.50) on shares of Neogen in a report on Tuesday, January 21st. Guggenheim started coverage on Neogen in a report on Thursday, December 19th. They issued a "buy" rating and a $15.00 target price on the stock.

Insider Buying and Selling

In related news, CFO David H. Naemura purchased 14,800 shares of the business's stock in a transaction dated 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 purchase, the chief financial officer now directly owns 61,434 shares of the company's stock, valued at $682,531.74. This trade represents a 31.74 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John Edward Adent bought 23,035 shares of the company's stock in a transaction on Thursday, January 16th. The shares were acquired 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 directly owns 269,164 shares in the company, valued at $2,968,878.92. This represents a 9.36 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.13% of the company's stock.

Neogen Stock Performance

NASDAQ:NEOG traded down $0.21 during trading hours on Wednesday, hitting $9.95. 1,988,645 shares of the company were exchanged, compared to its average volume of 2,792,469. Neogen Co. has a 52-week low of $9.94 and a 52-week high of $18.58. The company's 50 day moving average price is $11.89 and its 200-day moving average price is $14.29. 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 stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of -4.54 and a beta of 1.23.

Neogen (NASDAQ:NEOG - Get Free Report) last released its quarterly earnings results on Friday, January 10th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.01) by $0.12. The firm had revenue of $231.30 million for the quarter, compared to analysts' expectations of $227.16 million. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The firm's revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the company earned $0.11 EPS. As a group, research analysts forecast that Neogen Co. will post 0.38 earnings per share for the current 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.