Geneva Capital Management LLC Lowers Stock Position in Neogen Co. (NASDAQ:NEOG)

Geneva Capital Management LLC lowered its position in Neogen Co. (NASDAQ:NEOG) by 4.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,005,309 shares of the company’s stock after selling 89,453 shares during the period. Geneva Capital Management LLC owned about 0.92% of Neogen worth $24,344,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in shares of Neogen in the fourth quarter valued at about $2,744,000. WoodTrust Financial Corp raised its holdings in shares of Neogen by 9.3% in the fourth quarter. WoodTrust Financial Corp now owns 61,100 shares of the company’s stock valued at $742,000 after purchasing an additional 5,175 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Neogen by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,061,927 shares of the company’s stock valued at $25,032,000 after purchasing an additional 52,663 shares during the last quarter. Connable Office Inc. raised its holdings in shares of Neogen by 5.6% in the fourth quarter. Connable Office Inc. now owns 18,793 shares of the company’s stock valued at $228,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Mutual of America Capital Management LLC raised its holdings in shares of Neogen by 52.8% in the fourth quarter. Mutual of America Capital Management LLC now owns 594,390 shares of the company’s stock valued at $7,216,000 after purchasing an additional 205,436 shares during the last quarter. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Neogen Stock Performance

NASDAQ NEOG opened at $9.54 on Thursday. Neogen Co. has a 52-week low of $9.01 and a 52-week high of $18.58. The company has a 50-day simple moving average of $11.24 and a 200 day simple moving average of $13.62. 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 company has a market capitalization of $2.07 billion, a PE ratio of -4.36 and a beta of 1.27.

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

Insiders Place Their Bets

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

Analyst Ratings Changes

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

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.