Swiss National Bank Has $6.75 Million Stock Holdings in Neogen Co. (NASDAQ:NEOG)

Swiss National Bank cut its holdings in shares of Neogen Co. (NASDAQ:NEOG) by 1.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 401,637 shares of the company’s stock after selling 4,500 shares during the period. Swiss National Bank’s holdings in Neogen were worth $6,752,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in NEOG. Vanguard Group Inc. grew its holdings in Neogen by 0.9% during the first quarter. Vanguard Group Inc. now owns 19,715,974 shares of the company’s stock worth $311,118,000 after buying an additional 169,237 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Neogen by 6.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 126,095 shares of the company’s stock valued at $1,990,000 after purchasing an additional 7,946 shares in the last quarter. Bayesian Capital Management LP bought a new stake in Neogen in the 1st quarter worth about $175,000. Janus Henderson Group PLC lifted its position in shares of Neogen by 1.3% during the 1st quarter. Janus Henderson Group PLC now owns 3,628,801 shares of the company’s stock worth $57,261,000 after buying an additional 46,855 shares in the last quarter. Finally, Moody National Bank Trust Division boosted its stake in shares of Neogen by 14.5% in the 2nd quarter. Moody National Bank Trust Division now owns 11,650 shares of the company’s stock worth $182,000 after buying an additional 1,478 shares during the last quarter. Institutional investors own 96.73% of the company’s stock.

Insider Buying and Selling at Neogen

In related news, CEO John Edward Adent bought 14,500 shares of the company’s stock in a transaction on Friday, October 11th. The shares were purchased at an average price of $13.80 per share, for a total transaction of $200,100.00. Following the completion of the transaction, the chief executive officer now directly owns 216,477 shares in the company, valued at approximately $2,987,382.60. The trade was a 7.18 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.13% of the company’s stock.

Neogen Trading Down 7.4 %

NASDAQ:NEOG opened at $14.17 on Wednesday. Neogen Co. has a 12 month low of $11.46 and a 12 month high of $20.89. The company has a current ratio of 4.41, a quick ratio of 2.79 and a debt-to-equity ratio of 0.28. The firm’s 50 day moving average is $15.21 and its 200 day moving average is $15.59. The stock has a market capitalization of $3.07 billion, a PE ratio of -128.82 and a beta of 1.23.

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

Wall Street Analyst Weigh In

NEOG has been the topic of a number of recent analyst reports. StockNews.com upgraded Neogen to a “sell” rating in a report on Monday, September 30th. Piper Sandler boosted their price target on shares of Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a report on Tuesday, August 6th.

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.