41,418 Shares in Neogen Co. (NASDAQ:NEOG) Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Neogen Co. (NASDAQ:NEOG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 41,418 shares of the company's stock, valued at approximately $503,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Connable Office Inc. boosted its holdings in Neogen by 5.6% during the fourth quarter. Connable Office Inc. now owns 18,793 shares of the company's stock worth $228,000 after buying an additional 1,000 shares in the last quarter. Inspire Advisors LLC raised its position in shares of Neogen by 10.1% during the fourth quarter. Inspire Advisors LLC now owns 14,226 shares of the company's stock worth $173,000 after purchasing an additional 1,304 shares during the period. Blue Trust Inc. lifted its holdings in shares of Neogen by 196.7% during 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. KBC Group NV raised its holdings in Neogen by 39.1% during the 4th 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 period. Finally, Neo Ivy Capital Management purchased a new stake in Neogen during the third quarter valued at about $66,000. 96.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on NEOG. Guggenheim began coverage on shares of Neogen in a research note on Thursday, December 19th. They issued a "buy" rating and a $15.00 price objective for the company. Piper Sandler reiterated a "neutral" rating and issued a $13.00 target price (down previously from $16.50) on shares of Neogen in a report on Tuesday, January 21st.

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Neogen Stock Down 0.2 %

NEOG traded down $0.02 during trading on Wednesday, reaching $8.43. 2,991,693 shares of the stock traded hands, compared to its average volume of 2,147,317. The stock's 50-day simple moving average is $10.31 and its two-hundred day simple moving average is $12.86. 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 fifty-two week low of $8.32 and a fifty-two week high of $18.58. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of -3.85 and a beta of 1.27.

Neogen (NASDAQ:NEOG - Get Free Report) last announced its quarterly earnings results on Friday, January 10th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.12. Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. The business had revenue of $231.30 million during the quarter, compared to analyst estimates of $227.16 million. During the same period in the previous year, the company earned $0.11 EPS. The firm's revenue was up .7% on a year-over-year basis. As a group, equities research analysts expect that Neogen Co. will post 0.38 EPS for the current year.

Insiders Place Their Bets

In other Neogen news, CFO David H. Naemura bought 14,800 shares of the stock in a transaction on Thursday, January 16th. The shares were purchased at an average cost of $11.11 per share, with a total value of $164,428.00. Following the completion of the transaction, the chief financial officer now directly owns 61,434 shares of the company's stock, valued at $682,531.74. This represents a 31.74 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John Edward Adent acquired 23,035 shares of the stock in a transaction dated Thursday, January 16th. The shares were bought at an average cost of $11.03 per share, for a total transaction of $254,076.05. Following the acquisition, the chief executive officer now owns 269,164 shares in the company, valued at $2,968,878.92. The trade was a 9.36 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.13% of the company's stock.

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.