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

Dimensional Fund Advisors LP raised its holdings in shares of Neogen Co. (NASDAQ:NEOG) by 24.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 6,939,984 shares of the company’s stock after buying an additional 1,345,056 shares during the period. Dimensional Fund Advisors LP’s holdings in Neogen were worth $84,254,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Harbour Investments Inc. bought a new stake in Neogen during the 4th quarter valued at approximately $27,000. Blue Trust Inc. boosted its stake in 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 period. Covestor Ltd grew its holdings in Neogen by 41.4% during the 4th quarter. Covestor Ltd now owns 4,103 shares of the company’s stock valued at $50,000 after buying an additional 1,202 shares in the last quarter. KBC Group NV raised its position in shares of Neogen by 39.1% during the fourth quarter. KBC Group NV now owns 8,464 shares of the company’s stock valued at $103,000 after buying an additional 2,379 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its position in shares of Neogen by 4,955.8% during the fourth quarter. Brown Brothers Harriman & Co. now owns 10,415 shares of the company’s stock worth $126,000 after acquiring an additional 10,209 shares during the last quarter. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

Neogen Stock Performance

NASDAQ NEOG opened at $5.03 on Wednesday. The company has a market cap of $1.09 billion, a P/E ratio of -2.30 and a beta of 1.57. The business’s 50 day moving average price is $7.80 and its 200-day moving average price is $11.10. Neogen Co. has a fifty-two week low of $3.87 and a fifty-two week high of $18.58. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.46 and a current ratio of 3.77.

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

Insiders Place Their Bets

In other Neogen news, CAO John Patrick Moylan purchased 10,000 shares of the firm’s stock in a transaction on 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 completion of the purchase, the chief accounting officer now owns 10,000 shares in the company, valued at $50,700. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Amy M. Rocklin acquired 12,500 shares of the business’s stock in a transaction dated Wednesday, April 23rd. The shares were bought at an average price of $4.99 per share, for a total transaction of $62,375.00. Following the acquisition, the insider now owns 36,287 shares of the company’s stock, valued at approximately $181,072.13. This represents a 52.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 67,500 shares of company stock worth $331,525. 1.13% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on NEOG. Piper Sandler decreased their price target 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 dropped their price target on Neogen from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, April 10th.

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.