Lindenwold Advisors INC Grows Position in Neogen Co. (NASDAQ:NEOG)

Lindenwold Advisors INC grew its stake in shares of Neogen Co. (NASDAQ:NEOG) by 19.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,821 shares of the company’s stock after purchasing an additional 2,055 shares during the period. Lindenwold Advisors INC’s holdings in Neogen were worth $216,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mutual of America Capital Management LLC boosted its holdings in Neogen by 44.5% during the third quarter. Mutual of America Capital Management LLC now owns 388,954 shares of the company’s stock worth $6,538,000 after buying an additional 119,865 shares in the last quarter. Natixis Advisors LLC boosted its stake in shares of Neogen by 35.1% during the 3rd quarter. Natixis Advisors LLC now owns 96,374 shares of the company’s stock worth $1,620,000 after acquiring an additional 25,061 shares in the last quarter. Connable Office Inc. grew its holdings in shares of Neogen by 77.1% in the 3rd quarter. Connable Office Inc. now owns 17,793 shares of the company’s stock worth $299,000 after acquiring an additional 7,744 shares during the period. Curi RMB Capital LLC increased its stake in Neogen by 3.2% in the 3rd quarter. Curi RMB Capital LLC now owns 421,244 shares of the company’s stock valued at $7,081,000 after purchasing an additional 13,126 shares in the last quarter. Finally, Zions Bancorporation N.A. increased its stake in Neogen by 21.6% in the 3rd quarter. Zions Bancorporation N.A. now owns 99,797 shares of the company’s stock valued at $1,678,000 after purchasing an additional 17,752 shares in the last quarter. 96.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NEOG. StockNews.com raised Neogen to a “sell” rating in a report on Monday, September 30th. Piper Sandler boosted their price objective on shares of Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th.

Insiders Place Their Bets

In other Neogen news, CEO John Edward Adent purchased 14,500 shares of Neogen stock in a transaction on Friday, October 11th. The shares were bought at an average price of $13.80 per share, with a total value of $200,100.00. Following the purchase, the chief executive officer now directly owns 216,477 shares in the company, valued at $2,987,382.60. This trade represents a 7.18 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.13% of the stock is owned by corporate insiders.

Neogen Stock Up 4.1 %

Shares of NEOG opened at $15.20 on Tuesday. Neogen Co. has a 1-year low of $11.46 and a 1-year high of $20.89. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.41 and a quick ratio of 2.79. The firm has a 50 day simple moving average of $15.29 and a 200-day simple moving average of $15.49.

Neogen (NASDAQ:NEOG) last released its quarterly earnings results on Thursday, October 10th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.03). Neogen had a positive return on equity of 2.80% and a negative net margin of 2.58%. The company had revenue of $217.00 million for the quarter, compared to analysts’ expectations of $215.05 million. During the same period in the previous year, the business posted $0.11 EPS. The business’s quarterly revenue was down 5.2% on a year-over-year basis. Analysts anticipate that Neogen Co. will post 0.5 earnings per share for the current year.

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.