Dimensional Fund Advisors LP Acquires 2,454,566 Shares of Neogen Co. (NASDAQ:NEOG)

Dimensional Fund Advisors LP boosted its holdings in Neogen Co. (NASDAQ:NEOG) by 148.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,109,180 shares of the company’s stock after buying an additional 2,454,566 shares during the period. Dimensional Fund Advisors LP owned approximately 1.90% of Neogen worth $64,229,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NEOG. Covestor Ltd grew its holdings in shares of Neogen by 173.2% in the 1st quarter. Covestor Ltd now owns 1,970 shares of the company’s stock valued at $31,000 after buying an additional 1,249 shares during the period. Innealta Capital LLC bought a new stake in shares of Neogen in the second quarter worth about $46,000. Headlands Technologies LLC raised its position in shares of Neogen by 264.1% during the second quarter. Headlands Technologies LLC now owns 3,397 shares of the company’s stock worth $53,000 after purchasing an additional 2,464 shares during the period. Family Firm Inc. bought a new position in shares of Neogen during the 2nd quarter valued at about $90,000. Finally, Quantum Private Wealth LLC acquired a new position in shares of Neogen in the 2nd quarter valued at approximately $156,000. 96.73% of the stock is owned by institutional investors.

Neogen Stock Down 0.4 %

Shares of NEOG stock opened at $16.61 on Friday. The firm’s fifty day moving average price is $16.61 and its two-hundred day moving average price is $15.21. Neogen Co. has a 1 year low of $11.46 and a 1 year high of $20.89. The company has a current ratio of 3.82, a quick ratio of 2.59 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $3.60 billion, a P/E ratio of 1,662.66 and a beta of 1.21.

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

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, Director James P. Tobin acquired 3,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were bought at an average cost of $16.86 per share, for a total transaction of $50,580.00. Following the purchase, the director now directly owns 23,392 shares of the company’s stock, valued at $394,389.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.71% of the stock is owned by corporate insiders.

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.