Banque Pictet & Cie SA Sells 161,550 Shares of Neogen Co. (NASDAQ:NEOG)

Banque Pictet & Cie SA trimmed its position in Neogen Co. (NASDAQ:NEOG - Free Report) by 6.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,522,790 shares of the company's stock after selling 161,550 shares during the quarter. Banque Pictet & Cie SA owned 1.16% of Neogen worth $30,627,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stephens Inc. AR lifted its position in shares of Neogen by 2.6% during the 3rd quarter. Stephens Inc. AR now owns 35,930 shares of the company's stock worth $604,000 after buying an additional 909 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Neogen by 142.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company's stock worth $33,000 after acquiring an additional 1,165 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Neogen by 7.3% in the 3rd 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 in the last quarter. Lindenwold Advisors INC boosted its stake in shares of Neogen by 19.1% in the 3rd quarter. Lindenwold Advisors INC now owns 12,821 shares of the company's stock valued at $216,000 after purchasing an additional 2,055 shares in the last quarter. Finally, McCollum Christoferson Group LLC grew its holdings in shares of Neogen by 0.8% during the 3rd quarter. McCollum Christoferson Group LLC now owns 258,304 shares of the company's stock valued at $4,342,000 after purchasing an additional 2,142 shares during the last quarter. 96.73% of the stock is currently owned by institutional investors.

Neogen Trading Up 5.7 %

Shares of NASDAQ:NEOG traded up $0.56 during mid-day trading on Tuesday, reaching $10.39. 2,681,259 shares of the company's stock were exchanged, compared to its average volume of 2,766,844. 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 Co. has a twelve month low of $9.70 and a twelve month high of $18.58. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of -4.74 and a beta of 1.23. The business's fifty day moving average price is $11.66 and its 200-day moving average price is $14.08.

Neogen (NASDAQ:NEOG - Get Free Report) last announced its 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. Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. The firm had revenue of $231.30 million for the quarter, compared to the consensus estimate of $227.16 million. During the same period in the previous year, the business earned $0.11 EPS. The business's quarterly revenue was up .7% compared to the same quarter last year. On average, research analysts predict that Neogen Co. will post 0.38 EPS for the current fiscal year.

Insider Activity at Neogen

In other Neogen news, CEO John Edward Adent acquired 23,035 shares of the company's stock in a transaction dated 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 purchase, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David H. Naemura bought 14,800 shares of the business's stock in a transaction that occurred 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 transaction, the chief financial officer now owns 61,434 shares in the company, valued at $682,531.74. This 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 currently owned by company insiders.

Wall Street Analysts Forecast Growth

NEOG has been the subject of a number of research reports. Guggenheim initiated coverage on Neogen in a research note on Thursday, December 19th. They issued a "buy" rating and a $15.00 price target for the company. Piper Sandler reiterated a "neutral" rating and issued a $13.00 target price (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.