Geode Capital Management LLC Sells 29,974 Shares of Neogen Co. (NASDAQ:NEOG)

Geode Capital Management LLC trimmed its stake in Neogen Co. (NASDAQ:NEOG) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,118,414 shares of the company’s stock after selling 29,974 shares during the quarter. Geode Capital Management LLC owned about 2.36% of Neogen worth $62,150,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. State Street Corp increased its position in Neogen by 3.1% in the 3rd quarter. State Street Corp now owns 7,932,192 shares of the company’s stock valued at $133,340,000 after buying an additional 236,762 shares in the last quarter. Barclays PLC grew its stake in Neogen by 129.8% in the third quarter. Barclays PLC now owns 366,753 shares of the company’s stock valued at $6,165,000 after acquiring an additional 207,160 shares during the period. Franklin Resources Inc. increased its holdings in shares of Neogen by 33.9% during the third quarter. Franklin Resources Inc. now owns 923,918 shares of the company’s stock valued at $15,531,000 after acquiring an additional 233,796 shares in the last quarter. Diversified Trust Co raised its position in shares of Neogen by 7.1% during the fourth quarter. Diversified Trust Co now owns 74,446 shares of the company’s stock worth $904,000 after purchasing an additional 4,961 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of Neogen by 32.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 1,303,465 shares of the company’s stock worth $15,824,000 after purchasing an additional 316,457 shares in the last quarter. Institutional investors and hedge funds own 96.73% of the company’s stock.

Insider Transactions at Neogen

In related news, CEO John Edward Adent acquired 23,035 shares of the stock in a transaction on Thursday, January 16th. The shares were acquired at an average price of $11.03 per share, with a total value of $254,076.05. Following the completion of the transaction, the chief executive officer now owns 269,164 shares in the company, valued at approximately $2,968,878.92. The trade was a 9.36 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO John Patrick Moylan bought 10,000 shares of Neogen stock in a transaction dated Thursday, April 10th. The shares were bought at an average cost of $5.07 per share, with a total value of $50,700.00. Following the completion of the transaction, the chief accounting officer now directly owns 10,000 shares in the company, valued at approximately $50,700. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 47,835 shares of company stock worth $469,204 in the last 90 days. Insiders own 1.13% of the company’s stock.

Neogen Trading Down 0.9 %

NASDAQ NEOG opened at $5.58 on Friday. The company has a current ratio of 3.77, a quick ratio of 2.46 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $1.21 billion, a P/E ratio of -2.55 and a beta of 1.57. The business has a fifty day simple moving average of $9.08 and a 200 day simple moving average of $11.97. Neogen Co. has a 12 month low of $3.87 and a 12 month high of $18.58.

Neogen (NASDAQ:NEOG) last released its quarterly earnings results on Wednesday, April 9th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The firm had revenue of $221.00 million for the quarter, compared to the consensus estimate of $225.27 million. During the same period in the previous year, the business earned $0.12 earnings per share. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. On average, analysts predict that Neogen Co. will post 0.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NEOG shares. Guggenheim lowered their price objective on shares of Neogen from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday. Piper Sandler reissued a “neutral” rating and set a $13.00 target price (down from $16.50) on shares of Neogen in a research report on Tuesday, January 21st.

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.