Nisa Investment Advisors LLC Decreases Stock Holdings in Neogen Co. (NASDAQ:NEOG)

Nisa Investment Advisors LLC trimmed its holdings in Neogen Co. (NASDAQ:NEOG) by 12.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,073 shares of the company’s stock after selling 3,594 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Neogen were worth $504,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Raymond James Trust N.A. lifted its stake in Neogen by 6.7% in the 1st quarter. Raymond James Trust N.A. now owns 6,981 shares of the company’s stock worth $215,000 after purchasing an additional 441 shares in the last quarter. United Services Automobile Association lifted its stake in Neogen by 4.5% in the 2nd quarter. United Services Automobile Association now owns 13,988 shares of the company’s stock worth $304,000 after purchasing an additional 608 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Neogen by 5.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 12,900 shares of the company’s stock worth $259,000 after purchasing an additional 711 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Neogen by 1.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 40,163 shares of the company’s stock worth $968,000 after purchasing an additional 759 shares in the last quarter. Finally, Simmons Bank lifted its stake in Neogen by 4.1% in the 3rd quarter. Simmons Bank now owns 19,740 shares of the company’s stock worth $366,000 after purchasing an additional 775 shares in the last quarter. 96.73% of the stock is owned by hedge funds and other institutional investors.

Neogen Stock Down 0.2 %

Shares of NASDAQ NEOG opened at $12.14 on Thursday. The company has a 50 day simple moving average of $15.61 and a 200-day simple moving average of $16.58. The company has a market capitalization of $2.63 billion, a P/E ratio of 1,214.00 and a beta of 1.13. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.82 and a quick ratio of 2.66. Neogen Co. has a 1 year low of $11.74 and a 1 year high of $24.09.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings results on Tuesday, April 9th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). The firm had revenue of $228.80 million for the quarter, compared to analyst estimates of $230.01 million. Neogen had a return on equity of 3.35% and a net margin of 0.17%. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.12 EPS. On average, equities research analysts predict that Neogen Co. will post 0.5 earnings per share for the current year.

Insider Transactions at Neogen

In related news, CFO David H. Naemura bought 12,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The stock was purchased at an average price of $12.51 per share, for a total transaction of $156,375.00. Following the acquisition, the chief financial officer now owns 30,040 shares of the company’s stock, valued at $375,800.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO John Edward Adent bought 23,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The stock was purchased at an average price 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 of the company’s stock, valued at $1,883,528.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO David H. Naemura bought 12,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The stock was bought at an average price of $12.51 per share, with a total value of $156,375.00. Following the acquisition, the chief financial officer now directly owns 30,040 shares in the company, valued at approximately $375,800.40. The disclosure for this purchase can be found here. Insiders bought 53,000 shares of company stock worth $662,205 in the last 90 days. Insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

Separately, Piper Sandler cut their price target on shares of Neogen from $19.00 to $17.00 and set a “neutral” rating for the company in a report on Monday.

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.