Pictet Asset Management Holding SA Has $28.77 Million Stake in Neogen Co. (NASDAQ:NEOG)

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

Other hedge funds also recently modified their holdings of the company. Harbour Investments Inc. acquired a new position in Neogen during the fourth quarter valued at $27,000. Blue Trust Inc. increased its holdings in shares of Neogen by 196.7% in the 4th quarter. Blue Trust Inc. now owns 3,368 shares of the company’s stock valued at $41,000 after purchasing an additional 2,233 shares during the period. Neo Ivy Capital Management purchased a new stake in shares of Neogen in the third quarter worth approximately $66,000. KBC Group NV boosted its holdings in shares of Neogen by 39.1% during the fourth quarter. KBC Group NV now owns 8,464 shares of the company’s stock worth $103,000 after purchasing an additional 2,379 shares during the period. Finally, Hardy Reed LLC purchased a new position in Neogen during the fourth quarter valued at approximately $133,000. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Neogen Trading Down 3.6 %

Neogen stock opened at $8.64 on Monday. Neogen Co. has a one year low of $8.31 and a one year high of $18.58. The company’s fifty day moving average price is $10.14 and its two-hundred day moving average price is $12.72. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.77 and a quick ratio of 2.46. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of -3.95 and a beta of 1.27.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings data on Friday, January 10th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $231.30 million for the quarter, compared to analyst estimates of $227.16 million. During the same quarter in the prior year, the firm posted $0.11 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis. On average, analysts forecast that Neogen Co. will post 0.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NEOG shares. Guggenheim began coverage on shares of Neogen in a research note on Thursday, December 19th. They set a “buy” rating and a $15.00 target price for the company. Piper Sandler reissued a “neutral” rating and set a $13.00 price objective (down previously from $16.50) on shares of Neogen in a research report on Tuesday, January 21st.

Insider Activity

In other news, CFO David H. Naemura purchased 14,800 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was purchased at an average price of $11.11 per share, with a total value of $164,428.00. Following the acquisition, the chief financial officer now directly owns 61,434 shares in the company, valued at approximately $682,531.74. The trade was a 31.74 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John Edward Adent bought 23,035 shares of the business’s stock in a transaction that occurred on 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 completion of the purchase, the chief executive officer now directly owns 269,164 shares of the company’s stock, valued at $2,968,878.92. This represents a 9.36 % increase in their position. The disclosure for this purchase can be found here. 1.13% of the stock is currently owned by company insiders.

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.