Geneva Capital Management LLC Sells 89,453 Shares of Neogen Co. (NASDAQ:NEOG)

Geneva Capital Management LLC reduced its position in Neogen Co. (NASDAQ:NEOG) by 4.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,005,309 shares of the company’s stock after selling 89,453 shares during the quarter. Geneva Capital Management LLC’s holdings in Neogen were worth $24,344,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of NEOG. Allspring Global Investments Holdings LLC lifted its position in Neogen by 142.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company’s stock valued at $33,000 after purchasing an additional 1,165 shares during the last quarter. International Assets Investment Management LLC lifted its position in Neogen by 1,581.0% during the third quarter. International Assets Investment Management LLC now owns 11,666 shares of the company’s stock valued at $196,000 after purchasing an additional 10,972 shares during the last quarter. State of Alaska Department of Revenue lifted its position in Neogen by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 22,810 shares of the company’s stock valued at $383,000 after purchasing an additional 1,550 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Neogen by 12.4% during the third quarter. Nisa Investment Advisors LLC now owns 28,258 shares of the company’s stock valued at $475,000 after purchasing an additional 3,123 shares during the last quarter. Finally, New York State Teachers Retirement System lifted its position in Neogen by 2.5% during the third quarter. New York State Teachers Retirement System now owns 140,005 shares of the company’s stock valued at $2,353,000 after purchasing an additional 3,430 shares during the last quarter. 96.73% of the stock is currently owned by institutional investors.

Neogen Trading Down 0.6 %

NEOG stock opened at $9.54 on Thursday. The company has a market capitalization of $2.07 billion, a PE ratio of -4.36 and a beta of 1.27. Neogen Co. has a one year low of $9.01 and a one year high of $18.58. The company’s 50 day moving average price is $11.24 and its two-hundred day moving average price is $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.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings results on Friday, January 10th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.12. The firm had revenue of $231.30 million for 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 business’s revenue was up .7% compared to the same quarter last year. During the same period last year, the firm posted $0.11 earnings per share. As a group, analysts predict that Neogen Co. will post 0.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO John Edward Adent bought 23,035 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were bought at an average cost of $11.03 per share, with a total value of $254,076.05. Following the completion of the purchase, the chief executive officer now directly owns 269,164 shares in the company, valued at $2,968,878.92. This represents a 9.36 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CFO David H. Naemura bought 14,800 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was purchased at an average cost of $11.11 per share, for a total transaction of $164,428.00. Following the completion of the purchase, the chief financial officer now owns 61,434 shares of the company’s stock, valued at $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. 1.13% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Guggenheim assumed coverage on shares of Neogen in a research report on Thursday, December 19th. They set a “buy” rating and a $15.00 target price for the company. Piper Sandler reissued a “neutral” rating and set a $13.00 price target (down from $16.50) on shares of Neogen in a research note on Tuesday, January 21st.

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.