Banque Pictet & Cie SA Reduces Position in Neogen Co. (NASDAQ:NEOG)

Banque Pictet & Cie SA cut its holdings in shares of Neogen Co. (NASDAQ:NEOG) by 6.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,522,790 shares of the company’s stock after selling 161,550 shares during the quarter. Banque Pictet & Cie SA’s holdings in Neogen were worth $30,627,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Citigroup Inc. lifted its holdings in Neogen by 129.1% during the third quarter. Citigroup Inc. now owns 231,833 shares of the company’s stock valued at $3,897,000 after purchasing an additional 130,641 shares during the last quarter. American Capital Management Inc. lifted its holdings in Neogen by 36.5% during the third quarter. American Capital Management Inc. now owns 3,414,700 shares of the company’s stock valued at $57,401,000 after purchasing an additional 913,604 shares during the last quarter. State Street Corp lifted its holdings 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Neogen by 17.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,166 shares of the company’s stock valued at $642,000 after purchasing an additional 5,804 shares during the last quarter. Finally, Barclays PLC increased its position in shares of Neogen by 129.8% during the third quarter. Barclays PLC now owns 366,753 shares of the company’s stock valued at $6,165,000 after buying an additional 207,160 shares during the period. 96.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Neogen Stock Down 0.3 %

Shares of NEOG opened at $9.92 on Friday. 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 business’s 50-day moving average price is $11.84 and its 200-day moving average price is $14.26. Neogen Co. has a twelve month low of $9.88 and a twelve month high of $18.58.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings data on Friday, January 10th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.12. The company had revenue of $231.30 million for the quarter, compared to analysts’ expectations 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 for the quarter was up .7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.11 earnings per share. On average, analysts predict that Neogen Co. will post 0.38 earnings per share for the current year.

Analysts Set New Price Targets

NEOG has been the topic of several analyst reports. Guggenheim initiated coverage on Neogen in a research report on Thursday, December 19th. They set a “buy” rating and a $15.00 price target on the stock. Piper Sandler reiterated a “neutral” rating and set a $13.00 price target (down from $16.50) on shares of Neogen in a research 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.