Victory Capital Management Inc. Has $207,000 Stake in Neogen Corporation (NEOG)
Victory Capital Management Inc. lifted its holdings in shares of Neogen Corporation (NASDAQ:NEOG) by 17.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,989 shares of the company’s stock after buying an additional 446 shares during the period. Victory Capital Management Inc.’s holdings in Neogen Corporation were worth $207,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of NEOG. SG Americas Securities LLC purchased a new position in shares of Neogen Corporation during the 2nd quarter worth approximately $154,000. Teacher Retirement System of Texas purchased a new position in shares of Neogen Corporation during the 2nd quarter worth approximately $209,000. Creative Planning raised its stake in shares of Neogen Corporation by 1.3% during the 2nd quarter. Creative Planning now owns 3,478 shares of the company’s stock worth $240,000 after buying an additional 46 shares in the last quarter. Citadel Advisors LLC purchased a new position in shares of Neogen Corporation during the 1st quarter worth approximately $329,000. Finally, Sei Investments Co. raised its stake in shares of Neogen Corporation by 4.5% during the 1st quarter. Sei Investments Co. now owns 6,378 shares of the company’s stock worth $418,000 after buying an additional 275 shares in the last quarter. 86.10% of the stock is owned by institutional investors and hedge funds.
NEOG has been the subject of a number of analyst reports. Zacks Investment Research raised Neogen Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 3rd. CL King initiated coverage on Neogen Corporation in a research note on Friday, July 14th. They set a “neutral” rating for the company. Finally, BidaskClub downgraded Neogen Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th.
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Neogen Corporation (NASDAQ:NEOG) opened at 71.69 on Friday. The stock’s 50 day moving average price is $68.09 and its 200-day moving average price is $65.57. The stock has a market capitalization of $2.74 billion, a P/E ratio of 62.89 and a beta of 1.51. Neogen Corporation has a 52 week low of $50.53 and a 52 week high of $74.98.
Neogen Corporation (NASDAQ:NEOG) last announced its earnings results on Tuesday, September 19th. The company reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.01. Neogen Corporation had a return on equity of 9.93% and a net margin of 12.28%. The firm had revenue of $95.30 million for the quarter, compared to analysts’ expectations of $94.87 million. During the same quarter in the previous year, the company earned $0.26 earnings per share. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. Equities research analysts expect that Neogen Corporation will post $1.31 earnings per share for the current year.
In other news, Director James P. Tobin bought 500 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The shares were purchased 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 in the company, valued at $206,848. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Edward Bradley sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $66.33, for a total value of $331,650.00. Following the sale, the vice president now directly owns 86,512 shares in the company, valued at approximately $5,738,340.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,333 shares of company stock worth $2,304,273. 4.20% of the stock is owned by corporate insiders.
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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