Banque Pictet & Cie SA Sells 161,550 Shares of Neogen Co. (NASDAQ:NEOG)

Banque Pictet & Cie SA lowered its stake in Neogen Co. (NASDAQ:NEOG) by 6.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,522,790 shares of the company’s stock after selling 161,550 shares during the quarter. Banque Pictet & Cie SA owned 1.16% of Neogen worth $30,627,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its stake in shares of Neogen by 142.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company’s stock valued at $33,000 after acquiring an additional 1,165 shares in the last quarter. Blue Trust Inc. increased its stake in Neogen by 196.7% during the 4th 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 in the last quarter. Neo Ivy Capital Management bought a new stake in Neogen during the 3rd quarter valued at $66,000. KBC Group NV increased its stake in Neogen by 39.1% during the 4th quarter. KBC Group NV now owns 8,464 shares of the company’s stock valued at $103,000 after purchasing an additional 2,379 shares in the last quarter. Finally, Marco Investment Management LLC bought a new stake in Neogen during the 3rd quarter valued at $169,000. Institutional investors own 96.73% of the company’s stock.

Neogen Trading Down 0.3 %

NASDAQ NEOG opened at $9.92 on Friday. Neogen Co. has a 1 year low of $9.88 and a 1 year high of $18.58. 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 company has a fifty day moving average price of $11.84 and a 200-day moving average price of $14.26.

Neogen (NASDAQ:NEOG) last posted its earnings results on Friday, January 10th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $231.30 million during the quarter, compared to analyst estimates of $227.16 million. During the same quarter in the prior year, the business posted $0.11 EPS. The business’s revenue was up .7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Neogen Co. will post 0.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Neogen

In related news, CFO David H. Naemura purchased 14,800 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were bought at an average cost of $11.11 per share, with a total value of $164,428.00. Following the acquisition, the chief financial officer now owns 61,434 shares of the company’s stock, valued at $682,531.74. This represents a 31.74 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO John Edward Adent purchased 23,035 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was bought at an average cost of $11.03 per share, for a total transaction of $254,076.05. Following the completion of the acquisition, the chief executive officer now directly 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. Company insiders own 1.13% of the company’s stock.

Neogen 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.