New Age Alpha Advisors LLC Invests $342,000 in Neogen Co. (NASDAQ:NEOG)

New Age Alpha Advisors LLC bought a new position in Neogen Co. (NASDAQ:NEOG) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 28,164 shares of the company’s stock, valued at approximately $342,000.

A number of other large investors have also recently added to or reduced their stakes in NEOG. Connable Office Inc. lifted its stake in shares of Neogen by 5.6% in the fourth quarter. Connable Office Inc. now owns 18,793 shares of the company’s stock worth $228,000 after buying an additional 1,000 shares during the last quarter. Inspire Advisors LLC lifted its position in Neogen by 10.1% during the 4th quarter. Inspire Advisors LLC now owns 14,226 shares of the company’s stock worth $173,000 after acquiring an additional 1,304 shares during the last quarter. Blue Trust Inc. boosted its holdings in Neogen by 196.7% during the fourth 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 period. Harbour Investments Inc. acquired a new stake in shares of Neogen in the fourth quarter valued at about $27,000. Finally, Commonwealth Equity Services LLC increased its stake in shares of Neogen by 6.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 39,263 shares of the company’s stock worth $477,000 after purchasing an additional 2,267 shares during the period. Institutional investors own 96.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on NEOG shares. 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. Piper Sandler reiterated a “neutral” rating and set a $13.00 target price (down from $16.50) on shares of Neogen in a research note on Tuesday, January 21st.

Neogen Stock Performance

Shares of NASDAQ NEOG opened at $8.39 on Wednesday. Neogen Co. has a one year low of $8.04 and a one year high of $18.58. The company has a current ratio of 3.77, a quick ratio of 2.46 and a debt-to-equity ratio of 0.33. The business has a fifty day simple moving average of $10.02 and a 200 day simple moving average of $12.62. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of -3.83 and a beta of 1.27.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings data 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. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The company had revenue of $231.30 million during the quarter, compared to analysts’ expectations of $227.16 million. During the same quarter in the prior year, the company posted $0.11 EPS. The business’s revenue was up .7% on a year-over-year basis. Sell-side analysts expect that Neogen Co. will post 0.38 EPS for the current year.

Insider Buying and Selling at Neogen

In related news, CEO John Edward Adent purchased 23,035 shares of the firm’s stock in a transaction that occurred 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 purchase, 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO David H. Naemura acquired 14,800 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were bought at an average price of $11.11 per share, with a total value 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 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. Company insiders own 1.13% of the company’s stock.

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.