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

Nisa Investment Advisors LLC lowered its stake in Neogen Co. (NASDAQ:NEOG) by 12.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 25,073 shares of the company’s stock after selling 3,594 shares during the period. Nisa Investment Advisors LLC’s holdings in Neogen were worth $504,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC purchased a new position in shares of Neogen during the 1st quarter worth $29,000. Point72 Hong Kong Ltd purchased a new position in shares of Neogen during the 1st quarter worth $71,000. State of Tennessee Treasury Department purchased a new position in shares of Neogen during the 1st quarter worth $45,000. International Assets Investment Management LLC purchased a new position in shares of Neogen during the 3rd quarter worth $49,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Neogen by 416.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,033 shares of the company’s stock worth $56,000 after purchasing an additional 2,446 shares during the period. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Insider Buying and Selling

In other news, CEO John Edward Adent bought 23,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The shares were acquired at an average cost of $12.36 per share, with a total value of $284,280.00. Following the transaction, the chief executive officer now owns 152,389 shares of the company’s stock, valued at approximately $1,883,528.04. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO John Edward Adent purchased 23,000 shares of the stock in a transaction that occurred on Wednesday, April 10th. The stock was purchased at an average cost of $12.36 per share, for a total transaction of $284,280.00. Following the acquisition, the chief executive officer now owns 152,389 shares in the company, valued at $1,883,528.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James C. Borel purchased 7,500 shares of the stock in a transaction that occurred on Thursday, April 11th. The stock was bought at an average price of $13.06 per share, with a total value of $97,950.00. Following the completion of the acquisition, the director now owns 21,392 shares in the company, valued at approximately $279,379.52. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 53,000 shares of company stock valued at $662,205. 0.71% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, Piper Sandler reduced their price target on Neogen from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday.

Neogen Trading Down 0.2 %

Shares of NEOG opened at $12.14 on Thursday. The company has a current ratio of 3.82, a quick ratio of 2.66 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $2.63 billion, a P/E ratio of 1,214.00 and a beta of 1.13. The stock’s fifty day simple moving average is $15.61 and its 200 day simple moving average is $16.58. Neogen Co. has a twelve month low of $11.74 and a twelve month high of $24.09.

Neogen (NASDAQ:NEOG) last issued its earnings results on Tuesday, April 9th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.02). The firm had revenue of $228.80 million during the quarter, compared to analysts’ expectations of $230.01 million. Neogen had a return on equity of 3.35% and a net margin of 0.17%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the business posted $0.12 earnings per share. On average, equities research analysts forecast that Neogen Co. will post 0.5 earnings per share for the current year.

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.