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

Mackenzie Financial Corp raised its position in Neogen Co. (NASDAQ:NEOG - Free Report) by 5.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,826,349 shares of the company's stock after buying an additional 423,923 shares during the period. Mackenzie Financial Corp owned about 3.61% of Neogen worth $95,012,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Harbour Investments Inc. acquired a new stake in Neogen in the 4th quarter worth about $27,000. Blue Trust Inc. increased its holdings in shares of Neogen by 196.7% in the fourth quarter. Blue Trust Inc. now owns 3,368 shares of the company's stock valued at $41,000 after purchasing an additional 2,233 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Neogen in the fourth quarter valued at approximately $43,000. Covestor Ltd boosted its stake in Neogen by 41.4% during the fourth quarter. Covestor Ltd now owns 4,103 shares of the company's stock worth $50,000 after buying an additional 1,202 shares during the last quarter. Finally, KBC Group NV boosted its stake in Neogen by 39.1% during the fourth quarter. KBC Group NV now owns 8,464 shares of the company's stock worth $103,000 after buying an additional 2,379 shares during the last quarter. 96.73% of the stock is currently owned by institutional investors and hedge funds.

Neogen Trading Up 1.5%

NASDAQ:NEOG traded up $0.09 on Tuesday, reaching $6.15. The company's stock had a trading volume of 3,438,591 shares, compared to its average volume of 3,058,718. Neogen Co. has a 12-month low of $3.87 and a 12-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 firm has a market cap of $1.33 billion, a price-to-earnings ratio of -2.81 and a beta of 1.83. The stock has a 50 day moving average price of $6.33 and a 200 day moving average price of $9.92.

Neogen (NASDAQ:NEOG - Get Free Report) last posted its earnings results on Wednesday, April 9th. The company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.12 by ($0.02). The business had revenue of $221.00 million during 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%. Neogen's revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.12 EPS. On average, equities analysts anticipate that Neogen Co. will post 0.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Activity at Neogen

In other news, Director James C. Borel acquired 35,000 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The shares were purchased at an average price of $4.89 per share, for a total transaction of $171,150.00. Following the acquisition, the director now owns 60,474 shares of the company's stock, valued at $295,717.86. This represents a 137.39% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Aashima Gupta acquired 16,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was purchased at an average price of $6.25 per share, for a total transaction of $100,000.00. Following the acquisition, the director now directly owns 21,917 shares in the company, valued at approximately $136,981.25. This trade represents a 270.41% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 83,500 shares of company stock worth $431,525. 1.13% of the stock is currently owned by company 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.