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

Geneva Capital Management LLC increased its holdings in Neogen Co. (NASDAQ:NEOG) by 0.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,094,762 shares of the company’s stock after purchasing an additional 7,226 shares during the period. Geneva Capital Management LLC owned approximately 0.97% of Neogen worth $35,213,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in NEOG. BNP Paribas Financial Markets increased its holdings in Neogen by 73.4% during the 1st quarter. BNP Paribas Financial Markets now owns 115,830 shares of the company’s stock worth $1,828,000 after purchasing an additional 49,041 shares during the period. Janney Montgomery Scott LLC lifted its position in Neogen by 3.1% during the first quarter. Janney Montgomery Scott LLC now owns 84,724 shares of the company’s stock valued at $1,337,000 after purchasing an additional 2,583 shares during the period. Texas Permanent School Fund Corp boosted its position in Neogen by 1.5% in the 1st quarter. Texas Permanent School Fund Corp now owns 172,441 shares of the company’s stock worth $2,721,000 after purchasing an additional 2,475 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Neogen by 277.1% during the 1st quarter. SG Americas Securities LLC now owns 45,558 shares of the company’s stock valued at $719,000 after acquiring an additional 33,478 shares during the period. Finally, Swiss National Bank raised its position in Neogen by 0.3% during the first quarter. Swiss National Bank now owns 406,137 shares of the company’s stock worth $6,409,000 after acquiring an additional 1,100 shares during the period. Institutional investors own 96.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Piper Sandler increased their price target on Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. StockNews.com raised Neogen to a “sell” rating in a report on Monday, September 30th.

Insider Activity

In other Neogen news, CEO John Edward Adent bought 14,500 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were acquired at an average cost of $13.80 per share, with a total value of $200,100.00. Following the completion of the transaction, the chief executive officer now owns 216,477 shares in the company, valued at $2,987,382.60. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.13% of the company’s stock.

Neogen Price Performance

Shares of NEOG opened at $15.34 on Wednesday. The firm’s 50-day moving average is $15.35 and its two-hundred day moving average is $15.42. Neogen Co. has a twelve month low of $11.46 and a twelve month high of $20.89. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.79 and a current ratio of 4.41.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings data on Thursday, October 10th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). Neogen had a negative net margin of 2.58% and a positive return on equity of 2.80%. The firm had revenue of $217.00 million during the quarter, compared to analyst estimates of $215.05 million. During the same period in the prior year, the firm earned $0.11 EPS. The business’s quarterly revenue was down 5.2% on a year-over-year basis. As a group, sell-side analysts expect that Neogen Co. will post 0.5 earnings per share for the current fiscal 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.