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

Swiss National Bank raised its position in shares of Neogen Co. (NASDAQ:NEOG) by 0.8% in the fourth quarter, HoldingsChannel reports. The firm owned 404,837 shares of the company’s stock after buying an additional 3,200 shares during the quarter. Swiss National Bank’s holdings in Neogen were worth $4,915,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Blue Trust Inc. grew its position in Neogen by 196.7% during the fourth quarter. Blue Trust Inc. now owns 3,368 shares of the company’s stock valued at $41,000 after buying an additional 2,233 shares during the period. Neo Ivy Capital Management purchased a new position in shares of Neogen during the 3rd quarter worth $66,000. KBC Group NV grew 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 valued at $103,000 after acquiring an additional 2,379 shares during the period. Hardy Reed LLC purchased a new stake in shares of Neogen in the 4th quarter worth $133,000. Finally, Marco Investment Management LLC bought a new position in Neogen in the 3rd quarter worth $169,000. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Neogen

In related news, CFO David H. Naemura bought 14,800 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was bought at an average cost of $11.11 per share, with a total value of $164,428.00. Following the completion of the purchase, the chief financial officer now owns 61,434 shares of the company’s stock, valued at approximately $682,531.74. The trade was a 31.74 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John Edward Adent purchased 23,035 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was bought at an average price of $11.03 per share, for a total transaction 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. This represents a 9.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.13% of the company’s stock.

Neogen Trading Up 0.1 %

Shares of Neogen stock opened at $8.86 on Tuesday. Neogen Co. has a fifty-two week low of $8.60 and a fifty-two week high of $18.58. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.46 and a current ratio of 3.77. The company has a market capitalization of $1.92 billion, a P/E ratio of -4.05 and a beta of 1.27. The company has a fifty day moving average of $10.38 and a 200 day moving average of $12.91.

Neogen (NASDAQ:NEOG) last released its quarterly earnings data on Friday, January 10th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.12. The firm had revenue of $231.30 million during the quarter, compared to analyst estimates of $227.16 million. Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. The business’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, sell-side analysts anticipate that Neogen Co. will post 0.38 earnings per share for the current fiscal 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.