Charles Schwab Investment Management Inc. Raises Stake in Neogen Co. (NASDAQ:NEOG)

Charles Schwab Investment Management Inc. grew its stake in shares of Neogen Co. (NASDAQ:NEOG) by 2.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in NEOG. Fred Alger Management LLC boosted its position in shares of Neogen by 86.5% during the 3rd quarter. Fred Alger Management LLC now owns 3,986,744 shares of the company’s stock worth $67,017,000 after purchasing an additional 1,849,427 shares in the last quarter. American Capital Management Inc. raised its stake in shares of Neogen by 36.5% during the 3rd quarter. American Capital Management Inc. now owns 3,414,700 shares of the company’s stock worth $57,401,000 after buying an additional 913,604 shares during the last quarter. Champlain Investment Partners LLC raised its stake in shares of Neogen by 10.7% during the 3rd quarter. Champlain Investment Partners LLC now owns 7,110,530 shares of the company’s stock worth $119,528,000 after buying an additional 690,029 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Neogen by 32.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 1,303,465 shares of the company’s stock worth $15,824,000 after buying an additional 316,457 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Neogen by 3.1% during the 3rd quarter. State Street Corp now owns 7,932,192 shares of the company’s stock worth $133,340,000 after buying an additional 236,762 shares during the last quarter. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Neogen

In related news, CFO David H. Naemura acquired 14,800 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was bought at an average price of $11.11 per share, with a total value of $164,428.00. Following the purchase, 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 owns 269,164 shares in the company, valued at approximately $2,968,878.92. The trade was a 9.36 % 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 corporate insiders.

Neogen Stock Performance

Shares of NEOG stock opened at $9.30 on Wednesday. The firm has a 50-day moving average price of $10.69 and a 200 day moving average price of $13.12. Neogen Co. has a twelve month low of $8.79 and a twelve month high of $18.58. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of -4.25 and a beta of 1.27. The company has a current ratio of 3.77, a quick ratio of 2.46 and a debt-to-equity ratio of 0.33.

Neogen (NASDAQ:NEOG) last announced its 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. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The firm had revenue of $231.30 million during the quarter, compared to the consensus estimate of $227.16 million. During the same quarter in the previous year, the company posted $0.11 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis. Research analysts forecast that Neogen Co. will post 0.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Guggenheim assumed coverage on Neogen in a research note on Thursday, December 19th. They set a “buy” rating and a $15.00 price target for the company. Piper Sandler reaffirmed a “neutral” rating and set a $13.00 price target (down previously from $16.50) on shares of Neogen in a research note on Tuesday, January 21st.

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.