Geneva Capital Management LLC Has $33.06 Million Stake in Neogen Co. (NASDAQ:NEOG)

Geneva Capital Management LLC reduced its position in shares of Neogen Co. (NASDAQ:NEOG) by 2.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,095,199 shares of the company’s stock after selling 43,430 shares during the period. Geneva Capital Management LLC owned about 0.97% of Neogen worth $33,062,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Moody National Bank Trust Division bought a new position in shares of Neogen during the 1st quarter worth approximately $161,000. Connable Office Inc. bought a new position in Neogen in the fourth quarter valued at $202,000. Vise Technologies Inc. acquired a new stake in Neogen in the 4th quarter valued at $220,000. Hartline Investment Corp bought a new stake in Neogen during the 1st quarter worth about $234,000. Finally, AlphaMark Advisors LLC acquired a new position in shares of Neogen during the 1st quarter worth about $239,000. 96.73% of the stock is currently owned by institutional investors.

Neogen Stock Performance

NEOG traded up $1.03 during trading hours on Thursday, reaching $16.20. The company’s stock had a trading volume of 2,985,403 shares, compared to its average volume of 2,129,660. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.66 and a current ratio of 3.82. The company’s 50-day moving average is $14.63 and its 200-day moving average is $15.54. Neogen Co. has a 52 week low of $11.46 and a 52 week high of $24.09. The firm has a market cap of $3.51 billion, a PE ratio of 1,624.00 and a beta of 1.20.

Neogen (NASDAQ:NEOG) last announced its earnings results on Tuesday, April 9th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.02). The company had revenue of $228.80 million for the quarter, compared to the consensus estimate of $230.01 million. Neogen had a return on equity of 3.35% and a net margin of 0.17%. The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.12 EPS. On average, equities analysts forecast that Neogen Co. will post 0.46 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on NEOG. Piper Sandler decreased their price target on Neogen from $19.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, April 15th. StockNews.com raised shares of Neogen to a “sell” rating in a research note on Wednesday.

Insider Transactions at Neogen

In other news, COO Douglas Edward Jones acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were purchased at an average cost of $12.36 per share, with a total value of $123,600.00. Following the acquisition, the chief operating officer now directly owns 46,131 shares in the company, valued at approximately $570,179.16. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.71% of the company’s stock.

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.