Geode Capital Management LLC Purchases 20,387 Shares of Neogen Co. (NASDAQ:NEOG)

Geode Capital Management LLC boosted its position in shares of Neogen Co. (NASDAQ:NEOG) by 0.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,148,388 shares of the company’s stock after acquiring an additional 20,387 shares during the quarter. Geode Capital Management LLC owned 2.38% of Neogen worth $86,559,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Barclays PLC raised its holdings in shares of Neogen by 129.8% in the 3rd quarter. Barclays PLC now owns 366,753 shares of the company’s stock valued at $6,165,000 after purchasing an additional 207,160 shares during the period. State Street Corp raised its stake in Neogen by 3.1% in the third quarter. State Street Corp now owns 7,932,192 shares of the company’s stock valued at $133,340,000 after buying an additional 236,762 shares during the period. Centiva Capital LP acquired a new stake in shares of Neogen in the third quarter valued at approximately $345,000. Ascent Group LLC bought a new position in shares of Neogen during the 3rd quarter worth approximately $205,000. Finally, Bamco Inc. NY boosted its stake in shares of Neogen by 1.4% during the 3rd quarter. Bamco Inc. NY now owns 7,303,115 shares of the company’s stock worth $122,765,000 after acquiring an additional 98,067 shares during the period. Institutional investors and hedge funds own 96.73% of the company’s stock.

Insider Activity at Neogen

In other Neogen news, CEO John Edward Adent bought 14,500 shares of Neogen stock in a transaction on Friday, October 11th. The shares were purchased at an average price of $13.80 per share, with a total value of $200,100.00. Following the acquisition, the chief executive officer now owns 216,477 shares in the company, valued at $2,987,382.60. This trade represents a 7.18 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.13% of the stock is currently owned by insiders.

Neogen Price Performance

NASDAQ:NEOG opened at $12.02 on Friday. Neogen Co. has a 52 week low of $11.46 and a 52 week high of $20.89. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.79 and a current ratio of 4.41. The firm’s 50-day simple moving average is $14.08 and its 200 day simple moving average is $15.52. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of -109.27 and a beta of 1.21.

Neogen (NASDAQ:NEOG) last announced its earnings results on Thursday, October 10th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.03). Neogen had a positive return on equity of 2.80% and a negative net margin of 2.58%. The business had revenue of $217.00 million for the quarter, compared to the consensus estimate of $215.05 million. During the same period in the prior year, the business posted $0.11 earnings per share. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. As a group, sell-side analysts predict that Neogen Co. will post 0.5 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NEOG shares. Guggenheim assumed coverage on Neogen in a report on Thursday. They set a “buy” rating and a $15.00 price target for the company. StockNews.com upgraded shares of Neogen to a “sell” rating in a research note on Monday, September 30th.

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.