Dimensional Fund Advisors LP Acquires 1,345,056 Shares of Neogen Co. (NASDAQ:NEOG)

Dimensional Fund Advisors LP lifted its stake in Neogen Co. (NASDAQ:NEOG) by 24.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,939,984 shares of the company’s stock after purchasing an additional 1,345,056 shares during the quarter. Dimensional Fund Advisors LP owned about 3.20% of Neogen worth $84,254,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in NEOG. Harbour Investments Inc. bought a new stake in Neogen in the fourth quarter worth $27,000. Blue Trust Inc. raised its position in shares of Neogen by 196.7% in the 4th quarter. Blue Trust Inc. now owns 3,368 shares of the company’s stock worth $41,000 after purchasing an additional 2,233 shares during the last quarter. Covestor Ltd boosted its stake in Neogen by 41.4% in the 4th quarter. Covestor Ltd now owns 4,103 shares of the company’s stock worth $50,000 after purchasing an additional 1,202 shares in the last quarter. KBC Group NV grew its position in Neogen by 39.1% during 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, Brown Brothers Harriman & Co. increased its stake in Neogen by 4,955.8% during the 4th quarter. Brown Brothers Harriman & Co. now owns 10,415 shares of the company’s stock valued at $126,000 after purchasing an additional 10,209 shares in the last quarter. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Insider Buying and Selling at Neogen

In related news, Director James C. Borel purchased 35,000 shares of the business’s stock in a transaction on Thursday, April 24th. The stock was acquired at an average price of $4.89 per share, with a total value of $171,150.00. Following the completion of the acquisition, the director now owns 60,474 shares of the company’s stock, valued at approximately $295,717.86. This trade represents a 137.39 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO John Patrick Moylan acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, April 10th. The stock was bought at an average cost of $5.07 per share, for a total transaction of $50,700.00. Following the purchase, the chief accounting officer now directly owns 10,000 shares of the company’s stock, valued at approximately $50,700. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 67,500 shares of company stock worth $331,525 in the last three months. 1.13% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NEOG shares. Guggenheim cut their price target on shares of Neogen from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Piper Sandler cut their target price on Neogen from $6.40 to $5.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 22nd.

Neogen Stock Down 2.1 %

Shares of Neogen stock opened at $5.03 on Wednesday. Neogen Co. has a twelve month low of $3.87 and a twelve month high of $18.58. 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 company’s 50 day moving average is $7.80 and its 200 day moving average is $11.10. The company has a market cap of $1.09 billion, a price-to-earnings ratio of -2.30 and a beta of 1.57.

Neogen (NASDAQ:NEOG) last released its quarterly earnings results on Wednesday, April 9th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.02). The firm had revenue of $221.00 million for the quarter, compared to the consensus estimate of $225.27 million. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. Neogen’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.12 earnings per share. Research analysts anticipate that Neogen Co. will post 0.38 EPS for the current year.

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.