Dimensional Fund Advisors LP Increases Holdings in Neogen Co. (NASDAQ:NEOG)

Dimensional Fund Advisors LP raised its holdings in shares of Neogen Co. (NASDAQ:NEOG - Free Report) by 24.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,939,984 shares of the company's stock after buying 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.

A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Neogen by 9.8% in the 4th quarter. Vanguard Group Inc. now owns 21,637,251 shares of the company's stock worth $262,676,000 after buying an additional 1,928,491 shares in the last quarter. Norges Bank bought a new position in shares of Neogen during the 4th quarter valued at about $212,171,000. William Blair Investment Management LLC raised its holdings in shares of Neogen by 8.1% during the 4th quarter. William Blair Investment Management LLC now owns 14,346,759 shares of the company's stock valued at $174,170,000 after buying an additional 1,074,825 shares in the last quarter. Clarkston Capital Partners LLC bought a new stake in Neogen in the 4th quarter worth approximately $34,801,000. Finally, Stephens Investment Management Group LLC boosted its stake in Neogen by 1.4% in the fourth quarter. Stephens Investment Management Group LLC now owns 2,642,726 shares of the company's stock worth $32,083,000 after buying an additional 36,605 shares in the last quarter. 96.73% of the stock is currently owned by institutional investors.

Neogen Trading Up 11.7 %

Shares of Neogen stock traded up $0.60 on Friday, hitting $5.75. The stock had a trading volume of 16,432,546 shares, compared to its average volume of 2,861,212. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -2.63 and a beta of 1.57. The stock's 50-day simple moving average is $7.50 and its two-hundred day simple moving average is $10.93. The company has a quick ratio of 2.46, a current ratio of 3.77 and a debt-to-equity ratio of 0.33. Neogen Co. has a one year low of $3.87 and a one year high of $18.58.

Neogen (NASDAQ:NEOG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 9th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.12 by ($0.02). The business had revenue of $221.00 million for the quarter, compared to analysts' expectations of $225.27 million. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The firm's revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.12 EPS. As a group, sell-side analysts predict that Neogen Co. will post 0.38 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NEOG. Piper Sandler lowered their price objective on shares of Neogen from $6.40 to $5.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Guggenheim cut their price target on shares of Neogen from $15.00 to $13.00 and set a "buy" rating for the company in a research report on Thursday, April 10th.

Insider Buying and Selling

In other news, CAO John Patrick Moylan bought 10,000 shares of the firm's stock in a transaction dated Thursday, April 10th. The stock was purchased at an average price of $5.07 per share, with a total value of $50,700.00. Following the transaction, the chief accounting officer now owns 10,000 shares of the company's stock, valued at approximately $50,700. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Amy M. Rocklin purchased 12,500 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The shares were purchased at an average price of $4.99 per share, for a total transaction of $62,375.00. Following the completion of the transaction, the insider now directly owns 36,287 shares of the company's stock, valued at $181,072.13. This represents a 52.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 67,500 shares of company stock valued at $331,525 over the last quarter. 1.13% of the stock is owned by company insiders.

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.