Conestoga Capital Advisors LLC Lowers Stake in Neogen Co. (NASDAQ:NEOG)

Conestoga Capital Advisors LLC lessened its holdings in Neogen Co. (NASDAQ:NEOG) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,503,588 shares of the company’s stock after selling 202,636 shares during the quarter. Conestoga Capital Advisors LLC owned about 3.92% of Neogen worth $103,234,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. KBC Group NV increased its position in Neogen by 39.1% during the 4th quarter. KBC Group NV now owns 8,464 shares of the company’s stock valued at $103,000 after buying an additional 2,379 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Neogen by 196.7% in the fourth 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. Inspire Investing LLC increased its holdings in shares of Neogen by 30.9% during the fourth quarter. Inspire Investing LLC now owns 36,383 shares of the company’s stock valued at $442,000 after acquiring an additional 8,580 shares in the last quarter. Avanza Fonder AB purchased a new position in shares of Neogen in the 4th quarter worth about $169,000. Finally, Procyon Advisors LLC boosted 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 purchasing an additional 6,467 shares in the last quarter. Institutional investors own 96.73% of the company’s stock.

Insider Activity

In other Neogen news, CEO John Edward Adent purchased 23,035 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were acquired at an average cost of $11.03 per share, for a total transaction of $254,076.05. Following the completion of the transaction, the chief executive officer now owns 269,164 shares of the company’s stock, valued at approximately $2,968,878.92. The trade was a 9.36 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO David H. Naemura purchased 14,800 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were acquired at an average price of $11.11 per share, for a total transaction of $164,428.00. Following the purchase, the chief financial officer now directly owns 61,434 shares in the company, valued at approximately $682,531.74. The trade was a 31.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on NEOG shares. Piper Sandler restated a “neutral” rating and set a $13.00 price objective (down from $16.50) on shares of Neogen in a research note on Tuesday, January 21st. Guggenheim began coverage on shares of Neogen in a research report on Thursday, December 19th. They set a “buy” rating and a $15.00 price target for the company.

Neogen Stock Down 0.2 %

NASDAQ NEOG opened at $11.46 on Monday. Neogen Co. has a one year low of $10.72 and a one year high of $18.58. The stock has a 50-day moving average of $12.45 and a 200 day moving average of $14.63. The company has a current ratio of 3.77, a quick ratio of 2.46 and a debt-to-equity ratio of 0.33.

Neogen (NASDAQ:NEOG) last released its quarterly earnings data on Friday, January 10th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $231.30 million during the quarter, compared to analysts’ expectations of $227.16 million. During the same period in the previous year, the company earned $0.11 earnings per share. The firm’s quarterly revenue was up .7% on a year-over-year basis. As a group, analysts forecast that Neogen Co. will post 0.38 EPS for the current fiscal 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.