Amica Mutual Insurance Co. Cuts Stock Position in Neogen Co. (NASDAQ:NEOG)

Amica Mutual Insurance Co. decreased its holdings in shares of Neogen Co. (NASDAQ:NEOG) by 15.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 79,768 shares of the company’s stock after selling 14,754 shares during the period. Amica Mutual Insurance Co.’s holdings in Neogen were worth $1,604,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Raymond James Financial Services Advisors Inc. grew its stake in shares of Neogen by 5.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 12,900 shares of the company’s stock worth $259,000 after acquiring an additional 711 shares during the last quarter. United Services Automobile Association lifted its holdings in shares of Neogen by 5.4% during the third quarter. United Services Automobile Association now owns 14,747 shares of the company’s stock worth $273,000 after purchasing an additional 759 shares during the period. Simmons Bank lifted its holdings in shares of Neogen by 4.1% during the third quarter. Simmons Bank now owns 19,740 shares of the company’s stock worth $366,000 after purchasing an additional 775 shares during the period. Arizona State Retirement System lifted its holdings in shares of Neogen by 1.4% during the third quarter. Arizona State Retirement System now owns 58,486 shares of the company’s stock worth $1,084,000 after purchasing an additional 790 shares during the period. Finally, Retirement Systems of Alabama lifted its holdings in shares of Neogen by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 246,534 shares of the company’s stock worth $4,958,000 after purchasing an additional 827 shares during the period. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Insider Transactions at Neogen

In other Neogen news, CEO John Edward Adent bought 23,000 shares of Neogen stock in a transaction dated Wednesday, April 10th. The stock was acquired at an average cost of $12.36 per share, with a total value of $284,280.00. Following the purchase, the chief executive officer now directly owns 152,389 shares in the company, valued at approximately $1,883,528.04. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other news, Director James C. Borel purchased 7,500 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The stock was purchased at an average cost of $13.06 per share, for a total transaction of $97,950.00. Following the completion of the transaction, the director now owns 21,392 shares of the company’s stock, valued at $279,379.52. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John Edward Adent purchased 23,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The shares were purchased at an average price of $12.36 per share, with a total value of $284,280.00. Following the completion of the transaction, the chief executive officer now directly owns 152,389 shares of the company’s stock, valued at approximately $1,883,528.04. The disclosure for this purchase can be found here. Insiders acquired a total of 53,000 shares of company stock valued at $662,205 in the last three months. 0.71% of the stock is currently owned by company insiders.

Neogen Stock Performance

NASDAQ:NEOG traded up $0.28 during trading hours on Monday, reaching $12.42. The company had a trading volume of 1,911,738 shares, compared to its average volume of 2,138,015. Neogen Co. has a 1-year low of $11.46 and a 1-year high of $24.09. The firm has a market cap of $2.69 billion, a PE ratio of 1,243.24 and a beta of 1.13. The business’s 50 day moving average price is $14.81 and its 200-day moving average price is $16.32. 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 (NASDAQ:NEOG) last announced its earnings results on Tuesday, April 9th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.02). The business 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 company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.12 earnings per share. Research analysts forecast that Neogen Co. will post 0.5 EPS for the current year.

Analysts Set New Price Targets

Separately, Piper Sandler decreased their target price on Neogen from $19.00 to $17.00 and set a “neutral” rating for the company in a report on Monday, April 15th.

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.