Neogen Co. (NASDAQ:NEOG) Shares Bought by Invesco Ltd.

Invesco Ltd. grew its holdings in Neogen Co. (NASDAQ:NEOG - Free Report) by 36.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 640,623 shares of the company's stock after acquiring an additional 169,652 shares during the period. Invesco Ltd. owned about 0.30% of Neogen worth $7,777,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Norges Bank acquired a new position in Neogen during the fourth quarter valued at $212,171,000. Vanguard Group Inc. lifted its holdings in shares of Neogen by 9.8% in the 4th quarter. Vanguard Group Inc. now owns 21,637,251 shares of the company's stock valued at $262,676,000 after buying an additional 1,928,491 shares during the period. Private Advisor Group LLC boosted its stake in shares of Neogen by 135.3% in the fourth quarter. Private Advisor Group LLC now owns 67,298 shares of the company's stock worth $817,000 after buying an additional 38,703 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Neogen by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,061,927 shares of the company's stock worth $25,032,000 after acquiring an additional 52,663 shares during the period. Finally, Pictet Asset Management Holding SA raised its position in Neogen by 26.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,369,595 shares of the company's stock valued at $28,767,000 after acquiring an additional 501,957 shares in the last quarter. Institutional investors and hedge funds own 96.73% of the company's stock.

Insider Transactions at Neogen

In other news, Director James C. Borel acquired 35,000 shares of the stock in a transaction that occurred on Thursday, April 24th. The shares were bought at an average cost of $4.89 per share, for a total transaction of $171,150.00. Following the acquisition, the director now owns 60,474 shares in the company, valued at approximately $295,717.86. This represents a 137.39 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Amy M. Rocklin bought 12,500 shares of Neogen stock in a transaction on Wednesday, April 23rd. The shares were purchased at an average cost of $4.99 per share, with a total value of $62,375.00. Following the acquisition, the insider now directly owns 36,287 shares of the company's stock, valued at approximately $181,072.13. The trade was a 52.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 67,500 shares of company stock valued at $331,525 over the last 90 days. Corporate insiders own 1.13% of the company's stock.

Neogen Price Performance

NASDAQ NEOG traded up $0.02 during trading hours on Wednesday, reaching $5.05. The company's stock had a trading volume of 6,215,328 shares, compared to its average volume of 2,778,241. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -2.31 and a beta of 1.57. The company's 50-day moving average is $7.70 and its two-hundred day moving average is $11.05. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.77 and a quick ratio of 2.46. Neogen Co. has a 1-year low of $3.87 and a 1-year high of $18.58.

Neogen (NASDAQ:NEOG - Get Free Report) last announced its 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 business had revenue of $221.00 million for the quarter, compared to analyst estimates of $225.27 million. Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. The company'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. On average, equities analysts predict that Neogen Co. will post 0.38 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Piper Sandler dropped their price objective on shares of Neogen from $6.40 to $5.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Guggenheim lowered 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.

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.