Mitsubishi UFJ Trust & Banking Corp Sells 26,218 Shares of Neogen Co. (NASDAQ:NEOG)

Mitsubishi UFJ Trust & Banking Corp decreased its position in shares of Neogen Co. (NASDAQ:NEOG) by 5.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 430,729 shares of the company’s stock after selling 26,218 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.20% of Neogen worth $5,229,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Neogen by 9.8% during the 4th quarter. Vanguard Group Inc. now owns 21,637,251 shares of the company’s stock valued at $262,676,000 after acquiring an additional 1,928,491 shares during the last quarter. William Blair Investment Management LLC raised its stake in Neogen by 8.1% during the fourth quarter. William Blair Investment Management LLC now owns 14,346,759 shares of the company’s stock valued at $174,170,000 after purchasing an additional 1,074,825 shares in the last quarter. American Century Companies Inc. lifted its position in Neogen by 55.0% during the fourth quarter. American Century Companies Inc. now owns 2,606,043 shares of the company’s stock valued at $31,637,000 after purchasing an additional 924,571 shares during the last quarter. American Capital Management Inc. grew its stake in shares of Neogen by 36.5% in the 3rd quarter. American Capital Management Inc. now owns 3,414,700 shares of the company’s stock worth $57,401,000 after buying an additional 913,604 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of Neogen by 32.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 1,303,465 shares of the company’s stock worth $15,824,000 after buying an additional 316,457 shares during the last quarter. 96.73% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO David H. Naemura acquired 14,800 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was bought at an average price of $11.11 per share, for a total transaction of $164,428.00. Following the acquisition, 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 acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John Edward Adent acquired 23,035 shares of the stock in a transaction on Thursday, January 16th. The stock was bought at an average cost of $11.03 per share, with a total value of $254,076.05. Following the completion of the transaction, the chief executive officer now owns 269,164 shares in the company, valued at $2,968,878.92. This trade represents a 9.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.13% of the company’s stock.

Analyst Upgrades and Downgrades

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

Neogen Trading Down 3.6 %

Shares of NEOG opened at $8.64 on Monday. The company’s fifty day simple moving average is $10.14 and its 200-day simple moving average is $12.72. The company has a market cap of $1.87 billion, a P/E ratio of -3.95 and a beta of 1.27. The company has a current ratio of 3.77, a quick ratio of 2.46 and a debt-to-equity ratio of 0.33. Neogen Co. has a twelve month low of $8.31 and a twelve month high of $18.58.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings data on Friday, January 10th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.12. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The company had revenue of $231.30 million for the quarter, compared to analyst estimates of $227.16 million. During the same period in the prior year, the company posted $0.11 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis. As a group, analysts expect that Neogen Co. will post 0.38 EPS 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.