Geneva Capital Management LLC Purchases 490,907 Shares of Neogen Co. (NASDAQ:NEOG)

Geneva Capital Management LLC lifted its holdings in Neogen Co. (NASDAQ:NEOG) by 29.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,138,629 shares of the company’s stock after acquiring an additional 490,907 shares during the period. Geneva Capital Management LLC owned 0.99% of Neogen worth $43,008,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NEOG. New York State Teachers Retirement System boosted its position in shares of Neogen by 29.1% during the third quarter. New York State Teachers Retirement System now owns 126,506 shares of the company’s stock worth $2,345,000 after acquiring an additional 28,507 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Neogen by 17.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,145 shares of the company’s stock valued at $763,000 after purchasing an additional 6,166 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Neogen by 4.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 98,392 shares of the company’s stock worth $1,824,000 after purchasing an additional 4,136 shares during the last quarter. Advisor Partners II LLC boosted its stake in Neogen by 6.0% during the third quarter. Advisor Partners II LLC now owns 19,622 shares of the company’s stock valued at $364,000 after buying an additional 1,109 shares during the last quarter. Finally, Inspire Advisors LLC purchased a new position in Neogen during the 3rd quarter valued at approximately $610,000. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler lowered their target price on Neogen from $19.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, April 15th.

Neogen Trading Up 3.2 %

NASDAQ:NEOG traded up $0.38 during midday trading on Thursday, hitting $12.43. 1,365,442 shares of the company traded hands, compared to its average volume of 2,153,945. The company has a current ratio of 3.82, a quick ratio of 2.66 and a debt-to-equity ratio of 0.28. The firm’s fifty day moving average is $14.12 and its 200-day moving average is $16.16. The firm has a market capitalization of $2.69 billion, a P/E ratio of 1,244.24 and a beta of 1.18. Neogen Co. has a 12-month low of $11.46 and a 12-month high of $24.09.

Neogen (NASDAQ:NEOG) last released its earnings results on Tuesday, April 9th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.02). Neogen had a return on equity of 3.35% and a net margin of 0.17%. The firm had revenue of $228.80 million during the quarter, compared to the consensus estimate of $230.01 million. During the same quarter last year, the business posted $0.12 EPS. Neogen’s revenue was up 4.8% compared to the same quarter last year. On average, sell-side analysts predict that Neogen Co. will post 0.46 EPS for the current year.

Insider Transactions at Neogen

In related news, CFO David H. Naemura bought 12,500 shares of the stock in a transaction dated Wednesday, April 10th. The stock was purchased at an average cost of $12.51 per share, with a total value of $156,375.00. Following the completion of the purchase, the chief financial officer now owns 30,040 shares of the company’s stock, valued at $375,800.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO David H. Naemura acquired 12,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The stock was bought at an average price of $12.51 per share, for a total transaction of $156,375.00. Following the acquisition, the chief financial officer now directly owns 30,040 shares of the company’s stock, valued at approximately $375,800.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James C. Borel bought 7,500 shares of Neogen stock in a transaction dated Thursday, April 11th. The shares were bought at an average cost of $13.06 per share, for a total transaction of $97,950.00. Following the completion of the transaction, the director now owns 21,392 shares of the company’s stock, valued at approximately $279,379.52. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 53,000 shares of company stock worth $662,205. 0.71% of the stock is currently owned by company insiders.

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.