Neogen Corporation (NEOG) Stake Boosted by Vanguard Group Inc.
Vanguard Group Inc. lifted its holdings in Neogen Corporation (NASDAQ:NEOG) by 1.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,319,437 shares of the company’s stock after acquiring an additional 61,968 shares during the period. Vanguard Group Inc. owned 8.69% of Neogen Corporation worth $229,406,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Northern Trust Corp boosted its stake in shares of Neogen Corporation by 2.8% in the second quarter. Northern Trust Corp now owns 530,832 shares of the company’s stock worth $36,685,000 after acquiring an additional 14,353 shares during the period. Pinebridge Investments L.P. boosted its stake in shares of Neogen Corporation by 1.4% in the second quarter. Pinebridge Investments L.P. now owns 5,022 shares of the company’s stock worth $347,000 after acquiring an additional 68 shares during the period. UBS Asset Management Americas Inc. boosted its stake in shares of Neogen Corporation by 3.9% in the second quarter. UBS Asset Management Americas Inc. now owns 21,644 shares of the company’s stock worth $1,496,000 after acquiring an additional 806 shares during the period. Thrivent Financial For Lutherans boosted its stake in shares of Neogen Corporation by 7.6% in the second quarter. Thrivent Financial For Lutherans now owns 23,065 shares of the company’s stock worth $1,594,000 after acquiring an additional 1,630 shares during the period. Finally, Profund Advisors LLC boosted its stake in shares of Neogen Corporation by 5.7% in the second quarter. Profund Advisors LLC now owns 6,974 shares of the company’s stock worth $482,000 after acquiring an additional 379 shares during the period. 86.12% of the stock is owned by hedge funds and other institutional investors.
In related news, CFO Steven J. Quinlan sold 2,250 shares of Neogen Corporation stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $78.52, for a total value of $176,670.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Edward Bradley sold 20,000 shares of Neogen Corporation stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $78.60, for a total value of $1,572,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 158,543 shares of company stock worth $11,750,418 over the last 90 days. Insiders own 4.20% of the company’s stock.
NEOG has been the subject of a number of recent analyst reports. BidaskClub raised Neogen Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 30th. CL King initiated coverage on Neogen Corporation in a research note on Friday, July 14th. They issued a “neutral” rating for the company. Finally, Zacks Investment Research raised Neogen Corporation from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research note on Thursday, July 20th.
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Neogen Corporation (NASDAQ NEOG) opened at 76.91 on Friday. The stock has a 50 day moving average price of $73.61 and a 200-day moving average price of $67.04. Neogen Corporation has a 1-year low of $50.53 and a 1-year high of $79.99. The company has a market cap of $2.94 billion, a price-to-earnings ratio of 64.63 and a beta of 1.52.
Neogen Corporation (NASDAQ:NEOG) last posted its earnings results on Tuesday, September 19th. The company reported $0.31 EPS for the quarter, beating the Zacks’ 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 period last year, the firm earned $0.26 EPS. The company’s quarterly revenue was up 14.0% on a year-over-year basis. On average, equities research analysts forecast that Neogen Corporation will post $1.32 EPS for the current year.
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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