Connable Office Inc. Has $228,000 Position in Neogen Co. (NASDAQ:NEOG)

Connable Office Inc. raised its position in Neogen Co. (NASDAQ:NEOG) by 5.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,793 shares of the company’s stock after acquiring an additional 1,000 shares during the quarter. Connable Office Inc.’s holdings in Neogen were worth $228,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in NEOG. Raymond James & Associates lifted its stake in Neogen by 21.5% in the third quarter. Raymond James & Associates now owns 250,342 shares of the company’s stock valued at $4,208,000 after acquiring an additional 44,339 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Neogen by 142.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company’s stock valued at $33,000 after acquiring an additional 1,165 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Neogen by 1,581.0% in the third quarter. International Assets Investment Management LLC now owns 11,666 shares of the company’s stock valued at $196,000 after acquiring an additional 10,972 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in Neogen by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 22,810 shares of the company’s stock valued at $383,000 after acquiring an additional 1,550 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in Neogen by 12.4% in the third quarter. Nisa Investment Advisors LLC now owns 28,258 shares of the company’s stock valued at $475,000 after acquiring an additional 3,123 shares during the last quarter. Institutional investors and hedge funds own 96.73% of the company’s stock.

Neogen Trading Down 0.3 %

Shares of Neogen stock opened at $10.05 on Friday. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of -4.59 and a beta of 1.23. The company has a quick ratio of 2.46, a current ratio of 3.77 and a debt-to-equity ratio of 0.33. Neogen Co. has a 12-month low of $9.70 and a 12-month high of $18.58. The firm’s 50-day moving average price is $11.34 and its two-hundred day moving average price is $13.73.

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, topping 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 firm had revenue of $231.30 million for the quarter, compared to the consensus estimate of $227.16 million. During the same period in the prior year, the company posted $0.11 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis. On average, analysts forecast that Neogen Co. will post 0.38 earnings per share for the current fiscal year.

Insider Activity

In other Neogen news, CEO John Edward Adent bought 23,035 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 269,164 shares in the company, valued at approximately $2,968,878.92. This represents a 9.36 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David H. Naemura bought 14,800 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 61,434 shares in the company, valued at $682,531.74. This trade represents a 31.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on NEOG. Guggenheim began coverage on shares of Neogen in a research report on Thursday, December 19th. They issued a “buy” rating and a $15.00 price objective on the stock. Piper Sandler reissued a “neutral” rating and issued a $13.00 price objective (down from $16.50) on shares of Neogen in a research report on Tuesday, January 21st.

Neogen Company 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.