Charles Schwab Investment Management Inc. Has $25.03 Million Stock Holdings in Neogen Co. (NASDAQ:NEOG)

Charles Schwab Investment Management Inc. increased its stake in Neogen Co. (NASDAQ:NEOG - Free Report) by 2.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,061,927 shares of the company's stock after purchasing an additional 52,663 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.95% of Neogen worth $25,032,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NEOG. Blue Trust Inc. boosted its stake in shares of Neogen by 196.7% during the 4th quarter. Blue Trust Inc. now owns 3,368 shares of the company's stock worth $41,000 after buying an additional 2,233 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of Neogen during the 3rd quarter worth about $66,000. KBC Group NV boosted its stake in shares of Neogen by 39.1% during the 4th quarter. KBC Group NV now owns 8,464 shares of the company's stock worth $103,000 after buying an additional 2,379 shares during the last quarter. Marco Investment Management LLC acquired a new position in shares of Neogen during the 3rd quarter worth about $169,000. Finally, Raymond James Trust N.A. acquired a new position in shares of Neogen during the 3rd quarter worth about $182,000. 96.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Neogen

In related news, CFO David H. Naemura purchased 14,800 shares of the stock in a transaction on Thursday, January 16th. The shares were purchased at an average cost of $11.11 per share, with a total value of $164,428.00. Following the acquisition, the chief financial officer now directly owns 61,434 shares in the company, valued at $682,531.74. The trade was a 31.74 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO John Edward Adent bought 23,035 shares of the stock in a transaction dated 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 acquisition, the chief executive officer now directly owns 269,164 shares of the company's stock, valued at approximately $2,968,878.92. This trade represents a 9.36 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.13% of the company's stock.

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Wall Street Analyst Weigh In

NEOG has been the subject of a number of recent research reports. Guggenheim initiated coverage on shares of Neogen in a research note on Thursday, December 19th. They set a "buy" rating and a $15.00 price objective 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 note on Tuesday, January 21st.

Neogen Stock Performance

NASDAQ:NEOG traded down $0.12 during mid-day trading on Friday, hitting $8.85. The stock had a trading volume of 36,396,580 shares, compared to its average volume of 2,126,954. Neogen Co. has a twelve month low of $8.60 and a twelve month high of $18.58. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of -4.04 and a beta of 1.27. The company's 50 day simple moving average is $10.46 and its 200 day simple moving average is $13.01. 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 - Get Free Report) last released its quarterly earnings results on Friday, January 10th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.12. The firm 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%. The business's revenue was up .7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.11 EPS. On average, equities research analysts forecast that Neogen Co. will post 0.38 earnings per share for the current 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.