Handelsbanken Fonder AB Buys 18,100 Shares of Neogen Co. (NASDAQ:NEOG)

Handelsbanken Fonder AB increased its stake in Neogen Co. (NASDAQ:NEOG) by 45.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 57,664 shares of the company’s stock after acquiring an additional 18,100 shares during the period. Handelsbanken Fonder AB’s holdings in Neogen were worth $1,160,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Mackenzie Financial Corp boosted its position in shares of Neogen by 9.3% during the fourth quarter. Mackenzie Financial Corp now owns 5,868,784 shares of the company’s stock valued at $118,021,000 after purchasing an additional 497,856 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Neogen by 1.3% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 80,581 shares of the company’s stock worth $1,620,000 after purchasing an additional 1,066 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in Neogen during the fourth quarter valued at $1,112,000. Conestoga Capital Advisors LLC boosted its holdings in shares of Neogen by 4.0% during the 4th quarter. Conestoga Capital Advisors LLC now owns 6,817,600 shares of the company’s stock valued at $137,102,000 after buying an additional 265,075 shares in the last quarter. Finally, Baillie Gifford & Co. purchased a new stake in shares of Neogen in the 4th quarter worth about $166,646,000. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Neogen

In other news, Director James C. Borel purchased 7,500 shares of the company’s stock in a transaction on Thursday, April 11th. The stock was acquired 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 in the company, valued at approximately $279,379.52. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO John Edward Adent bought 23,000 shares of Neogen stock in a transaction dated Wednesday, April 10th. The shares were purchased at an average cost of $12.36 per share, with a total value of $284,280.00. Following the completion of the acquisition, the chief executive officer now owns 152,389 shares of the company’s stock, valued at approximately $1,883,528.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James C. Borel acquired 7,500 shares of Neogen 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 purchase, the director now owns 21,392 shares in the company, valued at $279,379.52. The disclosure for this purchase can be found here. Insiders have purchased 53,000 shares of company stock valued at $662,205 over the last quarter. 0.71% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, Piper Sandler decreased their target price on shares of Neogen from $19.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, April 15th.

Neogen Stock Up 1.5 %

NEOG opened at $12.14 on Monday. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of 1,215.22 and a beta of 1.13. The firm has a 50 day moving average price of $14.91 and a 200-day moving average price of $16.34. Neogen Co. has a twelve month low of $11.46 and a twelve month high of $24.09. The company has a quick ratio of 2.66, a current ratio of 3.82 and a debt-to-equity ratio of 0.28.

Neogen (NASDAQ:NEOG) last announced its earnings results on Tuesday, April 9th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.02). Neogen had a return on equity of 3.35% and a net margin of 0.17%. The firm had revenue of $228.80 million during the quarter, compared to analysts’ expectations of $230.01 million. During the same period in the previous year, the business posted $0.12 earnings per share. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. Equities research analysts forecast that Neogen Co. will post 0.5 earnings per share for the current year.

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.