Neogen Co. (NASDAQ:NEOG) Shares Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp lifted its holdings in Neogen Co. (NASDAQ:NEOG) by 9.3% in the fourth quarter, Holdings Channel reports. The firm owned 5,868,784 shares of the company’s stock after buying an additional 497,856 shares during the period. Mackenzie Financial Corp’s holdings in Neogen were worth $118,021,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC boosted its position in shares of Neogen by 0.9% in the 3rd quarter. FMR LLC now owns 1,915,751 shares of the company’s stock worth $35,518,000 after purchasing an additional 16,414 shares in the last quarter. Inspire Investing LLC raised its stake in Neogen by 99.3% in the 3rd quarter. Inspire Investing LLC now owns 33,979 shares of the company’s stock worth $630,000 after acquiring an additional 16,930 shares during the last quarter. Pacer Advisors Inc. raised its stake in Neogen by 77.3% in the 4th quarter. Pacer Advisors Inc. now owns 29,849 shares of the company’s stock worth $600,000 after acquiring an additional 13,013 shares during the last quarter. Fifth Third Bancorp raised its stake in Neogen by 194.2% in the 4th quarter. Fifth Third Bancorp now owns 29,326 shares of the company’s stock worth $590,000 after acquiring an additional 19,359 shares during the last quarter. Finally, Blair William & Co. IL raised its stake in Neogen by 6.5% in the 3rd quarter. Blair William & Co. IL now owns 3,583,502 shares of the company’s stock worth $66,438,000 after acquiring an additional 217,419 shares during the last quarter. Institutional investors and hedge funds own 96.73% of the company’s stock.

Neogen Stock Performance

Shares of NEOG stock opened at $12.01 on Tuesday. The business has a fifty day moving average of $15.75 and a 200 day moving average of $16.65. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of 1,202.20 and a beta of 1.13. Neogen Co. has a 1 year low of $11.94 and a 1 year high of $24.09. 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 released its quarterly earnings data on Tuesday, April 9th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). The company had revenue of $228.80 million for 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 quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.12 EPS. As a group, research analysts expect that Neogen Co. will post 0.5 earnings per share for the current year.

Insider Buying and Selling at Neogen

In related news, Director James C. Borel acquired 7,500 shares of Neogen stock in a transaction on Thursday, April 11th. The stock was acquired at an average price of $13.06 per share, for a total transaction of $97,950.00. Following the purchase, the director now owns 21,392 shares of the company’s stock, valued at approximately $279,379.52. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director James C. Borel acquired 7,500 shares of Neogen stock in a transaction on Thursday, April 11th. The stock was acquired at an average price of $13.06 per share, for a total transaction of $97,950.00. Following the purchase, the director now owns 21,392 shares of the company’s stock, valued at approximately $279,379.52. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO John Edward Adent acquired 23,000 shares of Neogen stock in a transaction on Wednesday, April 10th. The shares were bought at an average price 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 disclosure for this purchase can be found here. In the last quarter, insiders purchased 43,000 shares of company stock worth $538,605. Insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

Separately, Piper Sandler reduced their target price on Neogen from $19.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday.

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.