Mackenzie Financial Corp Has $116.38 Million Stock Holdings in Neogen Co. (NASDAQ:NEOG)

Mackenzie Financial Corp decreased its holdings in shares of Neogen Co. (NASDAQ:NEOG) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,446,209 shares of the company’s stock after selling 43,684 shares during the quarter. Mackenzie Financial Corp’s holdings in Neogen were worth $116,384,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Neogen by 0.9% in the first quarter. Vanguard Group Inc. now owns 19,715,974 shares of the company’s stock valued at $311,118,000 after acquiring an additional 169,237 shares during the period. William Blair Investment Management LLC boosted its holdings in Neogen by 64.7% in the 2nd quarter. William Blair Investment Management LLC now owns 12,013,072 shares of the company’s stock valued at $187,764,000 after purchasing an additional 4,717,696 shares during the period. Baillie Gifford & Co. grew its position in Neogen by 42.3% in the 1st quarter. Baillie Gifford & Co. now owns 11,789,521 shares of the company’s stock worth $186,039,000 after purchasing an additional 3,502,807 shares during the last quarter. Bamco Inc. NY grew its position in Neogen by 10.3% in the 1st quarter. Bamco Inc. NY now owns 7,304,967 shares of the company’s stock worth $115,272,000 after purchasing an additional 680,668 shares during the last quarter. Finally, Conestoga Capital Advisors LLC increased its holdings in shares of Neogen by 1.9% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 6,994,986 shares of the company’s stock worth $109,332,000 after purchasing an additional 129,945 shares during the period. 96.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Piper Sandler increased their target price on shares of Neogen from $17.00 to $17.50 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. StockNews.com raised Neogen to a “sell” rating in a report on Friday, September 13th.

Neogen Stock Down 0.4 %

Shares of NEOG stock opened at $16.61 on Friday. The stock has a market cap of $3.60 billion, a P/E ratio of 1,661.00 and a beta of 1.21. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.82 and a quick ratio of 2.59. The stock has a fifty day moving average price of $16.61 and a 200 day moving average price of $15.21. Neogen Co. has a one year low of $11.46 and a one year high of $20.89.

Neogen (NASDAQ:NEOG) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). The business had revenue of $236.80 million for the quarter, compared to the consensus estimate of $225.83 million. Neogen had a positive return on equity of 3.09% and a negative net margin of 1.02%. Neogen’s revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.14 earnings per share. Analysts predict that Neogen Co. will post 0.54 earnings per share for the current year.

Insider Buying and Selling at Neogen

In related news, Director James P. Tobin bought 3,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was acquired at an average cost of $16.86 per share, with a total value of $50,580.00. Following the acquisition, the director now owns 23,392 shares in the company, valued at approximately $394,389.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.71% of the company’s stock.

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.