Washington Trust Advisors Inc. Purchases 1,100 Shares of Neogen Co. (NASDAQ:NEOG)

Washington Trust Advisors Inc. boosted its position in Neogen Co. (NASDAQ:NEOG) by 10.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,966 shares of the company’s stock after buying an additional 1,100 shares during the period. Washington Trust Advisors Inc.’s holdings in Neogen were worth $241,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NEOG. Steward Partners Investment Advisory LLC purchased a new stake in shares of Neogen during the first quarter worth $29,000. Point72 Hong Kong Ltd purchased a new stake in shares of Neogen in the first quarter worth $71,000. State of Tennessee Treasury Department purchased a new stake in shares of Neogen in the first quarter worth $45,000. International Assets Investment Management LLC purchased a new stake in shares of Neogen in the third quarter worth $49,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Neogen by 416.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,033 shares of the company’s stock worth $56,000 after buying an additional 2,446 shares in the last quarter. 96.73% of the stock is owned by institutional investors.

Neogen Price Performance

NEOG traded up $0.39 during trading on Thursday, reaching $15.85. The stock had a trading volume of 549,388 shares, compared to its average volume of 1,864,516. The business has a 50-day moving average of $16.32 and a 200-day moving average of $17.21. Neogen Co. has a one year low of $14.44 and a one year high of $24.09. The stock has a market cap of $3.43 billion, a PE ratio of 262.04 and a beta of 1.14. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.63 and a current ratio of 3.54.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings data on Tuesday, January 9th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.08. Neogen had a return on equity of 3.35% and a net margin of 1.28%. The firm had revenue of $229.60 million for the quarter, compared to analysts’ expectations of $232.85 million. During the same period last year, the firm earned $0.15 earnings per share. The company’s revenue for the quarter was down .2% compared to the same quarter last year. As a group, equities research analysts anticipate that Neogen Co. will post 0.54 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Piper Sandler increased their target price on Neogen from $17.50 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, January 18th.

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.