Mackenzie Financial Corp Acquires 497,856 Shares of Neogen Co. (NASDAQ:NEOG)

Mackenzie Financial Corp boosted its position in Neogen Co. (NASDAQ:NEOG - Free Report) by 9.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,868,784 shares of the company's stock after buying an additional 497,856 shares during the quarter. Mackenzie Financial Corp owned approximately 2.71% of Neogen worth $118,021,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC bought a new position in shares of Neogen during the first quarter valued at approximately $29,000. Point72 Hong Kong Ltd bought a new position in shares of Neogen during the first quarter valued at approximately $71,000. State of Tennessee Treasury Department bought a new position in shares of Neogen during the first quarter valued at approximately $45,000. International Assets Investment Management LLC bought a new position in shares of Neogen during the third quarter valued at approximately $49,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Neogen by 416.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,033 shares of the company's stock valued at $56,000 after purchasing an additional 2,446 shares during the last quarter. 96.73% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director James C. Borel bought 7,500 shares of the business's stock in a transaction on Thursday, April 11th. The stock was purchased at an average cost of $13.06 per share, for a total transaction of $97,950.00. Following the completion of the transaction, the director now directly owns 21,392 shares of the company's stock, valued at approximately $279,379.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director James C. Borel bought 7,500 shares of the business's stock in a transaction on Thursday, April 11th. The stock was purchased at an average cost of $13.06 per share, for a total transaction of $97,950.00. Following the completion of the transaction, the director now directly owns 21,392 shares of the company's stock, valued at approximately $279,379.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David H. Naemura bought 12,500 shares of the business's stock in a transaction on Wednesday, April 10th. The stock was purchased at an average price of $12.51 per share, with a total value of $156,375.00. Following the completion of the transaction, the chief financial officer now directly owns 30,040 shares of the company's stock, valued at $375,800.40. The disclosure for this purchase can be found here. Insiders bought 43,000 shares of company stock worth $538,605 over the last ninety days. Company insiders own 0.71% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lowered their target price on Neogen from $19.00 to $17.00 and set a "neutral" rating for the company in a report on Monday.

Neogen Stock Performance

NEOG stock traded up $0.15 on Tuesday, reaching $12.16. The company's stock had a trading volume of 2,589,901 shares, compared to its average volume of 2,111,988. Neogen Co. has a 52 week low of $11.74 and a 52 week high of $24.09. The company has a market capitalization of $2.63 billion, a P/E ratio of 1,202.20 and a beta of 1.13. The firm has a fifty day moving average of $15.75 and a two-hundred day moving average of $16.65. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.82 and a quick ratio of 2.66.

Neogen (NASDAQ:NEOG - Get Free Report) last issued its quarterly earnings data on Tuesday, April 9th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.02). Neogen had a return on equity of 3.35% and a net margin of 0.17%. The business had revenue of $228.80 million during the quarter, compared to the consensus estimate of $230.01 million. During the same period last year, the company earned $0.12 earnings per share. The business's quarterly revenue was up 4.8% compared to the same quarter last year. As a group, analysts predict that Neogen Co. will post 0.5 EPS for the current fiscal year.

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.