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

Geneva Capital Management LLC decreased its holdings in shares of Neogen Co. (NASDAQ:NEOG - Free Report) by 4.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,005,309 shares of the company's stock after selling 89,453 shares during the period. Geneva Capital Management LLC owned about 0.92% of Neogen worth $24,344,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of NEOG. Allspring Global Investments Holdings LLC grew its position in shares of Neogen by 142.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company's stock valued at $33,000 after buying an additional 1,165 shares during the last quarter. Blue Trust Inc. boosted its stake in Neogen by 196.7% in the fourth quarter. Blue Trust Inc. now owns 3,368 shares of the company's stock valued at $41,000 after acquiring an additional 2,233 shares during the period. Neo Ivy Capital Management bought a new position in shares of Neogen during the third quarter valued at approximately $66,000. KBC Group NV raised its position 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 purchasing an additional 2,379 shares during the period. Finally, Hardy Reed LLC bought a new stake in shares of Neogen in the 4th quarter worth approximately $133,000. 96.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO David H. Naemura acquired 14,800 shares of the business's stock in a transaction dated Thursday, January 16th. The stock was acquired at an average price of $11.11 per share, for a total transaction of $164,428.00. Following the completion of the acquisition, the chief financial officer now directly owns 61,434 shares in the company, valued at $682,531.74. This represents a 31.74 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO John Edward Adent acquired 23,035 shares of Neogen stock in a transaction dated Thursday, January 16th. The shares were acquired at an average price of $11.03 per share, with a total value of $254,076.05. Following the transaction, the chief executive officer now owns 269,164 shares in the company, valued at approximately $2,968,878.92. This 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

A number of brokerages recently commented on NEOG. Guggenheim began coverage on 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 reissued a "neutral" rating and set a $13.00 price target (down previously from $16.50) on shares of Neogen in a report on Tuesday, January 21st.

Neogen Stock Performance

NEOG stock traded down $0.42 during trading on Monday, reaching $9.98. 3,656,964 shares of the company's stock were exchanged, compared to its average volume of 1,976,562. Neogen Co. has a 1-year low of $9.01 and a 1-year high of $18.58. The firm has a market cap of $2.17 billion, a PE ratio of -4.56 and a beta of 1.27. The company's fifty day moving average price is $11.09 and its 200-day moving average price is $13.49. The company has a quick ratio of 2.46, a current ratio of 3.77 and a debt-to-equity ratio of 0.33.

Neogen (NASDAQ:NEOG - Get Free Report) 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 business had revenue of $231.30 million during 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 company's quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.11 earnings per share. On average, research analysts expect that Neogen Co. will post 0.38 EPS for the current fiscal year.

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.