Swiss National Bank Buys 3,200 Shares of Neogen Co. (NASDAQ:NEOG)

Swiss National Bank lifted its stake in Neogen Co. (NASDAQ:NEOG) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 404,837 shares of the company’s stock after purchasing an additional 3,200 shares during the period. Swiss National Bank owned 0.19% of Neogen worth $4,915,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Fred Alger Management LLC lifted its holdings in Neogen by 86.5% in the third quarter. Fred Alger Management LLC now owns 3,986,744 shares of the company’s stock worth $67,017,000 after buying an additional 1,849,427 shares during the period. American Capital Management Inc. raised its position in shares of Neogen by 36.5% in the 3rd quarter. American Capital Management Inc. now owns 3,414,700 shares of the company’s stock worth $57,401,000 after acquiring an additional 913,604 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of Neogen by 32.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 1,303,465 shares of the company’s stock valued at $15,824,000 after purchasing an additional 316,457 shares during the period. State Street Corp boosted its position in shares of Neogen by 3.1% during the third quarter. State Street Corp now owns 7,932,192 shares of the company’s stock valued at $133,340,000 after purchasing an additional 236,762 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in Neogen by 33.9% in the third quarter. Franklin Resources Inc. now owns 923,918 shares of the company’s stock worth $15,531,000 after purchasing an additional 233,796 shares during the period. Institutional investors own 96.73% of the company’s stock.

Neogen Stock Up 0.1 %

Shares of NASDAQ:NEOG opened at $8.86 on Tuesday. The company has a current ratio of 3.77, a quick ratio of 2.46 and a debt-to-equity ratio of 0.33. The stock has a fifty day simple moving average of $10.38 and a two-hundred day simple moving average of $12.91. Neogen Co. has a 12-month low of $8.60 and a 12-month high of $18.58. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of -4.05 and a beta of 1.27.

Neogen (NASDAQ:NEOG) last posted its quarterly earnings results on Friday, January 10th. The company reported $0.11 earnings per share (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 during the quarter, compared to analyst estimates of $227.16 million. During the same quarter in the previous year, the firm earned $0.11 EPS. Neogen’s quarterly revenue was up .7% compared to the same quarter last year. On average, research analysts anticipate that Neogen Co. will post 0.38 earnings per share for the current fiscal year.

Insider Activity

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

Analyst Ratings Changes

Several brokerages have commented on NEOG. Piper Sandler reissued a “neutral” rating and set a $13.00 price objective (down previously from $16.50) on shares of Neogen in a research report on Tuesday, January 21st. Guggenheim started coverage on shares of Neogen in a research report on Thursday, December 19th. They set a “buy” rating and a $15.00 price target for the company.

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.