Vanguard Group Inc. Has $262.68 Million Position in Neogen Co. (NASDAQ:NEOG)

Vanguard Group Inc. raised its stake in shares of Neogen Co. (NASDAQ:NEOG) by 9.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,637,251 shares of the company’s stock after acquiring an additional 1,928,491 shares during the quarter. Vanguard Group Inc. owned approximately 9.97% of Neogen worth $262,676,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in NEOG. Harbour Investments Inc. bought a new stake in Neogen during the fourth quarter worth about $27,000. Blue Trust Inc. grew its position in Neogen by 196.7% during the 4th quarter. Blue Trust Inc. now owns 3,368 shares of the company’s stock worth $41,000 after acquiring an additional 2,233 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in Neogen during the 3rd quarter valued at $66,000. KBC Group NV raised its position in Neogen by 39.1% in the 4th quarter. KBC Group NV now owns 8,464 shares of the company’s stock valued at $103,000 after purchasing an additional 2,379 shares during the last quarter. Finally, Hardy Reed LLC acquired a new position in Neogen in the fourth quarter worth $133,000. Institutional investors own 96.73% of the company’s stock.

Neogen Price Performance

Neogen stock opened at $7.80 on Friday. The business’s 50-day simple moving average is $9.80 and its 200 day simple moving average is $12.50. The company has a quick ratio of 2.46, a current ratio of 3.77 and a debt-to-equity ratio of 0.33. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of -3.56 and a beta of 1.57. Neogen Co. has a 12-month low of $7.68 and a 12-month high of $18.58.

Neogen (NASDAQ:NEOG) last issued its earnings results on Friday, January 10th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.12. The company had revenue of $231.30 million for the quarter, compared to analyst estimates of $227.16 million. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the firm earned $0.11 EPS. As a group, research analysts anticipate that Neogen Co. will post 0.38 earnings per share for the current year.

Insider Buying and Selling at Neogen

In other news, CFO David H. Naemura acquired 14,800 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was purchased at an average price of $11.11 per share, for a total transaction of $164,428.00. Following the completion of the acquisition, the chief financial officer now owns 61,434 shares in the company, valued at $682,531.74. This trade represents a 31.74 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO John Edward Adent bought 23,035 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was purchased at an average price of $11.03 per share, for a total transaction of $254,076.05. Following the completion of the acquisition, the chief executive officer now owns 269,164 shares of the company’s stock, valued at approximately $2,968,878.92. This trade represents a 9.36 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.13% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Guggenheim began coverage on Neogen in a research note on Thursday, December 19th. They issued a “buy” rating and a $15.00 target price for the company. Piper Sandler reiterated a “neutral” rating and set a $13.00 target price (down from $16.50) on shares of Neogen in a research report on Tuesday, January 21st.

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.