Mercer Global Advisors Inc. ADV Decreases Position in Neogen Co. (NASDAQ:NEOG)

Mercer Global Advisors Inc. ADV lessened its holdings in shares of Neogen Co. (NASDAQ:NEOG) by 36.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,092 shares of the company’s stock after selling 6,380 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Neogen were worth $135,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NEOG. Barclays PLC lifted its holdings in shares of Neogen by 129.8% during the 3rd quarter. Barclays PLC now owns 366,753 shares of the company’s stock valued at $6,165,000 after purchasing an additional 207,160 shares during the last quarter. Procyon Advisors LLC raised its stake in Neogen by 22.3% in the 4th quarter. Procyon Advisors LLC now owns 35,513 shares of the company’s stock worth $431,000 after acquiring an additional 6,467 shares during the last quarter. Avanza Fonder AB purchased a new position in Neogen in the 4th quarter worth $169,000. Inspire Investing LLC raised its stake in Neogen by 30.9% in the 4th quarter. Inspire Investing LLC now owns 36,383 shares of the company’s stock worth $442,000 after acquiring an additional 8,580 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in Neogen by 196.7% in the 4th 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 last quarter. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on NEOG shares. Guggenheim reduced their target price on Neogen from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Piper Sandler reduced their target price on Neogen from $6.40 to $5.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd.

Insider Buying and Selling at Neogen

In related news, Director James C. Borel acquired 35,000 shares of Neogen stock in a transaction on Thursday, April 24th. The stock was acquired at an average price of $4.89 per share, for a total transaction of $171,150.00. Following the purchase, the director now owns 60,474 shares of the company’s stock, valued at approximately $295,717.86. This represents a 137.39% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Amy M. Rocklin acquired 12,500 shares of Neogen stock in a transaction on Wednesday, April 23rd. The shares were bought at an average price of $4.99 per share, with a total value of $62,375.00. Following the purchase, the insider now directly owns 36,287 shares in the company, valued at approximately $181,072.13. The trade was a 52.55% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 83,500 shares of company stock worth $431,525. Insiders own 1.13% of the company’s stock.

Neogen Stock Performance

Shares of NEOG stock opened at $6.61 on Friday. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of -3.02 and a beta of 1.83. 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 business has a fifty day moving average of $6.75 and a 200 day moving average of $10.35. Neogen Co. has a 1 year low of $3.87 and a 1 year high of $18.58.

Neogen (NASDAQ:NEOG) last released its quarterly earnings data on Wednesday, April 9th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). The company had revenue of $221.00 million for the quarter, compared to analysts’ expectations of $225.27 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 down 3.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.12 EPS. As a group, research analysts expect 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.