Neogen Co. (NASDAQ:NEOG) Shares Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its position in Neogen Co. (NASDAQ:NEOG) by 26.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,369,595 shares of the company’s stock after buying an additional 501,957 shares during the quarter. Pictet Asset Management Holding SA owned approximately 1.09% of Neogen worth $28,767,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Citigroup Inc. raised its position in shares of Neogen by 129.1% during the 3rd quarter. Citigroup Inc. now owns 231,833 shares of the company’s stock valued at $3,897,000 after acquiring an additional 130,641 shares in the last quarter. American Capital Management Inc. raised its holdings in shares of Neogen by 36.5% during the third quarter. American Capital Management Inc. now owns 3,414,700 shares of the company’s stock worth $57,401,000 after purchasing an additional 913,604 shares during the period. Private Advisor Group LLC lifted its position in shares of Neogen by 135.3% in the 4th quarter. Private Advisor Group LLC now owns 67,298 shares of the company’s stock worth $817,000 after buying an additional 38,703 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Neogen by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,061,927 shares of the company’s stock valued at $25,032,000 after buying an additional 52,663 shares during the last quarter. Finally, State Street Corp raised its stake in Neogen by 3.1% during the third quarter. State Street Corp now owns 7,932,192 shares of the company’s stock worth $133,340,000 after acquiring an additional 236,762 shares during the period. Institutional investors own 96.73% of the company’s stock.

Insider Activity at Neogen

In other news, CFO David H. Naemura purchased 14,800 shares of the stock in a transaction dated Thursday, January 16th. The shares were bought at an average cost of $11.11 per share, for a total transaction of $164,428.00. Following the transaction, the chief financial officer now owns 61,434 shares in the company, valued at $682,531.74. This trade represents a 31.74 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John Edward Adent acquired 23,035 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was purchased at an average price of $11.03 per share, with a total value of $254,076.05. Following the acquisition, the chief executive officer now owns 269,164 shares of the company’s stock, valued at approximately $2,968,878.92. This trade represents 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 insiders.

Neogen Price Performance

Shares of NASDAQ:NEOG opened at $8.64 on Monday. The firm’s 50 day moving average is $10.14 and its two-hundred day moving average is $12.72. The firm has a market capitalization of $1.87 billion, a P/E ratio of -3.95 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 Co. has a 52 week low of $8.31 and a 52 week high of $18.58.

Neogen (NASDAQ:NEOG) last posted its earnings results on Friday, January 10th. The company reported $0.11 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $227.16 million. During the same period last year, the firm earned $0.11 EPS. The firm’s revenue was up .7% compared to the same quarter last year. Analysts anticipate that Neogen Co. will post 0.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.