Mitsubishi UFJ Trust & Banking Corp Lowers Stock Position in Neogen Co. (NASDAQ:NEOG)

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of Neogen Co. (NASDAQ:NEOG) by 5.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 430,729 shares of the company’s stock after selling 26,218 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Neogen were worth $5,229,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Neogen by 9.8% in 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 period. William Blair Investment Management LLC boosted its position 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. State Street Corp boosted its position in Neogen by 3.1% during the third quarter. State Street Corp now owns 7,932,192 shares of the company’s stock valued at $133,340,000 after purchasing an additional 236,762 shares in the last quarter. Bamco Inc. NY grew its stake in Neogen by 1.4% in the third quarter. Bamco Inc. NY now owns 7,303,115 shares of the company’s stock valued at $122,765,000 after purchasing an additional 98,067 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Neogen by 0.4% in the third quarter. Geode Capital Management LLC now owns 5,148,388 shares of the company’s stock worth $86,559,000 after purchasing an additional 20,387 shares in the last quarter. Institutional investors own 96.73% of the company’s stock.

Insider Transactions at Neogen

In other news, CEO John Edward Adent bought 23,035 shares of Neogen stock in a transaction that occurred on Thursday, January 16th. The stock was bought at an average price of $11.03 per share, for a total transaction of $254,076.05. Following the purchase, the chief executive officer now directly owns 269,164 shares of the company’s stock, valued at approximately $2,968,878.92. The trade was a 9.36 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO David H. Naemura purchased 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 transaction, the chief financial officer now owns 61,434 shares in the company, valued at $682,531.74. This trade represents a 31.74 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.13% of the company’s stock.

Neogen Trading Down 3.6 %

Neogen stock opened at $8.64 on Monday. Neogen Co. has a one year low of $8.31 and a one year high of $18.58. The stock has a market cap of $1.87 billion, a PE ratio of -3.95 and a beta of 1.27. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.46 and a current ratio of 3.77. The stock has a 50-day moving average of $10.14 and a two-hundred day moving average of $12.72.

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

Analyst Ratings Changes

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

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.