Teachers Advisors LLC Boosts Position in Neogen Corporation (NEOG)
Teachers Advisors LLC raised its stake in shares of Neogen Corporation (NASDAQ:NEOG) by 2.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,297 shares of the company’s stock after buying an additional 1,526 shares during the period. Teachers Advisors LLC owned 0.17% of Neogen Corporation worth $4,215,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in NEOG. Victory Capital Management Inc. raised its position in Neogen Corporation by 53.0% in the first quarter. Victory Capital Management Inc. now owns 2,543 shares of the company’s stock valued at $167,000 after buying an additional 881 shares during the period. Raymond James Trust N.A. acquired a new position in Neogen Corporation during the first quarter valued at approximately $226,000. State of Alaska Department of Revenue raised its position in Neogen Corporation by 3.4% in the first quarter. State of Alaska Department of Revenue now owns 4,210 shares of the company’s stock valued at $275,000 after buying an additional 140 shares during the period. Bell Bank raised its position in Neogen Corporation by 4.2% in the first quarter. Bell Bank now owns 5,031 shares of the company’s stock valued at $330,000 after buying an additional 205 shares during the period. Finally, Sei Investments Co. raised its position in Neogen Corporation by 4.5% in the first quarter. Sei Investments Co. now owns 6,378 shares of the company’s stock valued at $418,000 after buying an additional 275 shares during the period. Institutional investors and hedge funds own 85.53% of the company’s stock.
Neogen Corporation (NASDAQ:NEOG) opened at 67.56 on Tuesday. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 59.26 and a beta of 1.52. Neogen Corporation has a 52-week low of $50.53 and a 52-week high of $69.97. The firm’s 50-day moving average is $67.41 and its 200 day moving average is $64.81.
Neogen Corporation (NASDAQ:NEOG) last released its earnings results on Tuesday, July 18th. The company reported $0.32 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.32. Neogen Corporation had a net margin of 12.11% and a return on equity of 9.87%. The business had revenue of $98.80 million during the quarter, compared to analyst estimates of $100.80 million. During the same quarter in the prior year, the firm earned $0.26 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, equities research analysts predict that Neogen Corporation will post $1.30 EPS for the current fiscal year.
NEOG has been the subject of several research reports. BidaskClub lowered shares of Neogen Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Zacks Investment Research upgraded shares of Neogen Corporation from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research report on Thursday, July 20th. Finally, CL King initiated coverage on shares of Neogen Corporation in a research report on Friday, July 14th. They set a “neutral” rating for the company.
In other Neogen Corporation news, Director James P. Tobin bought 500 shares of the company’s stock in a transaction dated Thursday, July 27th. The stock was acquired at an average price of $64.64 per share, with a total value of $32,320.00. Following the completion of the acquisition, the director now directly owns 3,200 shares of the company’s stock, valued at $206,848. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James L. Herbert sold 48,469 shares of the company’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $61.29, for a total transaction of $2,970,665.01. Following the sale, the chief executive officer now directly owns 912,105 shares of the company’s stock, valued at approximately $55,902,915.45. The disclosure for this sale can be found here. Insiders have sold 71,576 shares of company stock valued at $4,455,280 in the last ninety days. Insiders own 4.70% of the company’s stock.
About Neogen Corporation
Neogen Corporation develops, manufactures and markets a range of products and services dedicated to food and animal safety. The Company operates through two segments: Food Safety and Animal Safety. The Food Safety segment produces and markets diagnostic test kits and related products used by food producers and processors to detect harmful natural toxins, foodborne bacteria, allergens and levels of general sanitation.
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