Geneva Capital Management LLC Sells 43,430 Shares of Neogen Co. (NASDAQ:NEOG)

Geneva Capital Management LLC reduced its stake in shares of Neogen Co. (NASDAQ:NEOG) by 2.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,095,199 shares of the company’s stock after selling 43,430 shares during the quarter. Geneva Capital Management LLC’s holdings in Neogen were worth $33,062,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Mackenzie Financial Corp raised its holdings in Neogen by 9.3% during the 4th quarter. Mackenzie Financial Corp now owns 5,868,784 shares of the company’s stock valued at $118,021,000 after buying an additional 497,856 shares during the period. Trigran Investments Inc. purchased a new stake in shares of Neogen in the fourth quarter valued at $12,048,000. Simmons Bank lifted its holdings in shares of Neogen by 24.6% in the 4th quarter. Simmons Bank now owns 24,590 shares of the company’s stock worth $495,000 after acquiring an additional 4,850 shares during the last quarter. Connable Office Inc. purchased a new position in shares of Neogen during the 4th quarter worth about $202,000. Finally, Fifth Third Bancorp raised its position in Neogen by 194.2% in the 4th quarter. Fifth Third Bancorp now owns 29,326 shares of the company’s stock worth $590,000 after purchasing an additional 19,359 shares during the period. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

Neogen Trading Up 6.8 %

Shares of NASDAQ:NEOG traded up $1.03 during trading on Thursday, reaching $16.20. 2,985,403 shares of the company were exchanged, compared to its average volume of 2,129,660. The business’s fifty day simple moving average is $14.63 and its 200-day simple moving average is $15.54. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.82 and a quick ratio of 2.66. Neogen Co. has a 12-month low of $11.46 and a 12-month high of $24.09. The firm has a market capitalization of $3.51 billion, a PE ratio of 1,624.00 and a beta of 1.20.

Neogen (NASDAQ:NEOG) last released its quarterly earnings data on Tuesday, April 9th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.02). Neogen had a return on equity of 3.35% and a net margin of 0.17%. The firm had revenue of $228.80 million for the quarter, compared to analysts’ expectations of $230.01 million. During the same quarter in the previous year, the business earned $0.12 earnings per share. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, research analysts anticipate that Neogen Co. will post 0.46 EPS for the current year.

Analysts Set New Price Targets

NEOG has been the topic of a number of analyst reports. StockNews.com raised Neogen to a “sell” rating in a research note on Wednesday. Piper Sandler reduced their target price on Neogen from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, April 15th.

Insider Activity

In other Neogen news, COO Douglas Edward Jones acquired 10,000 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was bought at an average cost of $12.36 per share, with a total value of $123,600.00. Following the completion of the purchase, the chief operating officer now directly owns 46,131 shares in the company, valued at $570,179.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.71% of the company’s stock.

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.