Grantham Mayo Van Otterloo & Co. LLC Raises Holdings in Neogen Co. (NASDAQ:NEOG)

Grantham Mayo Van Otterloo & Co. LLC increased its holdings in Neogen Co. (NASDAQ:NEOG - Free Report) by 4.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,209,259 shares of the company's stock after purchasing an additional 87,410 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned approximately 1.02% of Neogen worth $26,820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of NEOG. Harbour Investments Inc. purchased a new stake in Neogen in the 4th quarter worth approximately $27,000. Blue Trust Inc. lifted its stake in Neogen by 196.7% in the fourth quarter. Blue Trust Inc. now owns 3,368 shares of the company's stock worth $41,000 after acquiring an additional 2,233 shares during the period. Neo Ivy Capital Management purchased a new stake in Neogen in the third quarter worth $66,000. KBC Group NV boosted its holdings in Neogen by 39.1% in the fourth quarter. KBC Group NV now owns 8,464 shares of the company's stock valued at $103,000 after acquiring an additional 2,379 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its position in Neogen by 4,955.8% during the 4th quarter. Brown Brothers Harriman & Co. now owns 10,415 shares of the company's stock valued at $126,000 after purchasing an additional 10,209 shares during the period. 96.73% of the stock is owned by institutional investors.

Neogen Stock Down 3.3 %

Neogen stock traded down $0.19 on Friday, hitting $5.45. 2,869,527 shares of the stock traded hands, compared to its average volume of 2,540,473. Neogen Co. has a 1 year low of $3.87 and a 1 year high of $18.58. The firm has a market cap of $1.18 billion, a P/E ratio of -2.48 and a beta of 1.57. The company has a current ratio of 3.77, a quick ratio of 2.46 and a debt-to-equity ratio of 0.33. The business's fifty day simple moving average is $9.18 and its 200 day simple moving average is $12.04.

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Neogen (NASDAQ:NEOG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 9th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.12 by ($0.02). Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The business had revenue of $221.00 million for the quarter, compared to analysts' expectations of $225.27 million. During the same period last year, the business earned $0.12 earnings per share. The company's revenue was down 3.4% on a year-over-year basis. As a group, sell-side analysts forecast that Neogen Co. will post 0.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NEOG. Piper Sandler reaffirmed a "neutral" rating and set a $13.00 target price (down previously from $16.50) on shares of Neogen in a research note on Tuesday, January 21st. Guggenheim cut their price objective on Neogen from $15.00 to $13.00 and set a "buy" rating on the stock in a research report on Thursday.

Insider Transactions at Neogen

In related news, CAO John Patrick Moylan purchased 10,000 shares of the stock in a transaction dated Thursday, April 10th. The stock was purchased at an average price of $5.07 per share, with a total value of $50,700.00. Following the transaction, the chief accounting officer now directly owns 10,000 shares in the company, valued at $50,700. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David H. Naemura acquired 14,800 shares of the business's stock in a transaction that occurred on Thursday, January 16th. The shares were purchased at an average cost of $11.11 per share, for a total transaction of $164,428.00. Following the completion of the transaction, the chief financial officer now directly owns 61,434 shares in the company, valued at $682,531.74. The trade was a 31.74 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 47,835 shares of company stock valued at $469,204 in the last ninety days. 1.13% of the stock is currently owned by corporate insiders.

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.