Neogen Co. (NASDAQ:NEOG) Shares Purchased by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG raised its holdings in Neogen Co. (NASDAQ:NEOG) by 3.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 124,000 shares of the company’s stock after buying an additional 4,350 shares during the period. Bank Pictet & Cie Europe AG owned approximately 0.06% of Neogen worth $2,084,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Covestor Ltd grew its holdings in Neogen by 173.2% during the 1st quarter. Covestor Ltd now owns 1,970 shares of the company’s stock worth $31,000 after acquiring an additional 1,249 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Neogen by 142.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company’s stock worth $33,000 after purchasing an additional 1,165 shares in the last quarter. Innealta Capital LLC purchased a new position in Neogen in the second quarter valued at $46,000. Headlands Technologies LLC raised its stake in Neogen by 264.1% in the second quarter. Headlands Technologies LLC now owns 3,397 shares of the company’s stock valued at $53,000 after buying an additional 2,464 shares in the last quarter. Finally, Family Firm Inc. purchased a new stake in Neogen during the 2nd quarter worth about $90,000. Institutional investors and hedge funds own 96.73% of the company’s stock.

Neogen Stock Down 0.4 %

NEOG opened at $13.99 on Wednesday. Neogen Co. has a one year low of $11.46 and a one year high of $20.89. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.59 and a current ratio of 3.82. The stock has a market capitalization of $3.03 billion, a P/E ratio of 1,399.00 and a beta of 1.21. The business’s 50-day simple moving average is $15.91 and its 200-day simple moving average is $15.17.

Neogen (NASDAQ:NEOG) last released its quarterly earnings results on Thursday, October 10th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). Neogen had a positive return on equity of 3.09% and a negative net margin of 1.02%. The firm had revenue of $217.00 million for the quarter, compared to analysts’ expectations of $215.05 million. During the same quarter in the prior year, the business earned $0.11 EPS. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. Analysts anticipate that Neogen Co. will post 0.54 EPS for the current year.

Insider Activity

In other Neogen news, CEO John Edward Adent acquired 14,500 shares of the stock in a transaction on Friday, October 11th. The shares were bought at an average cost of $13.80 per share, with a total value of $200,100.00. Following the transaction, the chief executive officer now owns 216,477 shares of the company’s stock, valued at approximately $2,987,382.60. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Neogen news, CEO John Edward Adent bought 14,500 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was acquired at an average price of $13.80 per share, for a total transaction of $200,100.00. Following the completion of the purchase, the chief executive officer now owns 216,477 shares of the company’s stock, valued at approximately $2,987,382.60. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James P. Tobin purchased 3,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were bought at an average cost of $16.86 per share, for a total transaction of $50,580.00. Following the acquisition, the director now owns 23,392 shares of the company’s stock, valued at approximately $394,389.12. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on NEOG. Piper Sandler raised their target price on Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. StockNews.com raised shares of Neogen to a “sell” rating in a report on Monday, September 30th.

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.