Neogen Co. (NASDAQ:NEOG) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. grew its stake in Neogen Co. (NASDAQ:NEOG) by 9.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,546,737 shares of the company’s stock after buying an additional 1,663,125 shares during the period. Vanguard Group Inc. owned 9.03% of Neogen worth $393,085,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NEOG. Norges Bank acquired a new position in shares of Neogen in the 4th quarter valued at $365,794,000. Baillie Gifford & Co. acquired a new stake in Neogen during the 4th quarter worth $166,646,000. Comerica Bank boosted its stake in Neogen by 917.8% during the 3rd quarter. Comerica Bank now owns 671,621 shares of the company’s stock worth $12,452,000 after purchasing an additional 605,635 shares during the period. Trigran Investments Inc. acquired a new stake in Neogen during the 4th quarter worth $12,048,000. Finally, Mackenzie Financial Corp boosted its stake in Neogen by 9.3% during the 4th quarter. Mackenzie Financial Corp now owns 5,868,784 shares of the company’s stock worth $118,021,000 after purchasing an additional 497,856 shares during the period. Institutional investors and hedge funds own 96.73% of the company’s stock.

Neogen Stock Down 0.2 %

Shares of Neogen stock opened at $15.96 on Friday. The company has a market cap of $3.46 billion, a P/E ratio of 1,596.00 and a beta of 1.19. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.66 and a current ratio of 3.82. Neogen Co. has a one year low of $11.46 and a one year high of $24.09. The firm has a fifty day moving average of $14.09 and a two-hundred day moving average of $15.83.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings results on Tuesday, April 9th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). The company had revenue of $228.80 million during the quarter, compared to analysts’ expectations of $230.01 million. Neogen had a net margin of 0.17% and a return on equity of 3.35%. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.12 EPS. On average, analysts forecast that Neogen Co. will post 0.46 earnings per share for the current year.

Insider Activity

In related news, CFO David H. Naemura purchased 12,500 shares of the business’s stock in a transaction dated Wednesday, April 10th. The stock was acquired at an average price of $12.51 per share, for a total transaction of $156,375.00. Following the acquisition, the chief financial officer now directly owns 30,040 shares of the company’s stock, valued at approximately $375,800.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Neogen news, CEO John Edward Adent bought 23,000 shares of the company’s stock in a transaction on Wednesday, April 10th. The stock was purchased at an average cost of $12.36 per share, for a total transaction of $284,280.00. Following the acquisition, the chief executive officer now owns 152,389 shares of the company’s stock, valued at approximately $1,883,528.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David H. Naemura bought 12,500 shares of the company’s stock in a transaction on Wednesday, April 10th. The shares were acquired at an average price of $12.51 per share, with a total value of $156,375.00. Following the completion of the acquisition, the chief financial officer now directly owns 30,040 shares in the company, valued at approximately $375,800.40. The disclosure for this purchase can be found here. Insiders purchased 53,000 shares of company stock worth $662,205 in the last 90 days. 0.71% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.