BlackRock Inc. grew its holdings in shares of Neogen Co. (NASDAQ:NEOG) by 2.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,643,175 shares of the company’s stock after buying an additional 160,186 shares during the period. BlackRock Inc. owned 14.62% of Neogen worth $474,718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Steward Partners Investment Advisory LLC acquired a new stake in shares of Neogen during the second quarter worth about $25,000. Captrust Financial Advisors increased its position in shares of Neogen by 20.0% during the second quarter. Captrust Financial Advisors now owns 1,135 shares of the company’s stock worth $70,000 after purchasing an additional 189 shares in the last quarter. Manchester Financial Inc. acquired a new stake in shares of Neogen during the second quarter worth about $71,000. Private Capital Group LLC increased its position in shares of Neogen by 16.0% during the second quarter. Private Capital Group LLC now owns 1,208 shares of the company’s stock worth $97,000 after purchasing an additional 167 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in shares of Neogen by 37.2% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,598 shares of the company’s stock worth $100,000 after purchasing an additional 433 shares in the last quarter. 92.37% of the stock is owned by institutional investors.
NEOG stock traded up $1.49 during trading on Wednesday, hitting $67.58. The company had a trading volume of 172,600 shares, compared to its average volume of 204,910. The firm has a market cap of $3.49 billion, a PE ratio of 58.77, a price-to-earnings-growth ratio of 5.48 and a beta of 1.37. Neogen Co. has a 1-year low of $50.60 and a 1-year high of $79.83. The firm has a 50-day moving average price of $65.53 and a 200-day moving average price of $65.57.
Neogen (NASDAQ:NEOG) last issued its quarterly earnings results on Tuesday, September 24th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.01). The company had revenue of $101.42 million during the quarter, compared to analyst estimates of $105.16 million. Neogen had a net margin of 14.32% and a return on equity of 9.46%. The business’s revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.29 EPS. As a group, research analysts forecast that Neogen Co. will post 1.2 EPS for the current year.
In related news, Director James L. Herbert sold 20,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $67.17, for a total value of $1,343,400.00. Following the transaction, the director now owns 216,970 shares in the company, valued at approximately $14,573,874.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James L. Herbert sold 25,334 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $63.71, for a total value of $1,614,029.14. Following the completion of the transaction, the director now owns 232,304 shares in the company, valued at approximately $14,800,087.84. The disclosure for this sale can be found here. Insiders sold a total of 217,349 shares of company stock worth $14,093,816 in the last 90 days. 1.70% of the stock is currently owned by insiders.
A number of research firms have recently commented on NEOG. BidaskClub cut Neogen from a “hold” rating to a “sell” rating in a research report on Saturday, November 9th. ValuEngine cut Neogen from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Finally, Zacks Investment Research upgraded Neogen from a “sell” rating to a “hold” rating and set a $71.00 target price on the stock in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Neogen currently has a consensus rating of “Hold” and an average target price of $74.50.
Neogen Company Profile
Neogen Corporation, together with its subsidiaries, develops, manufactures, and markets various products for food and animal safety worldwide. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment primarily offers diagnostic test kits and complementary to detect dangerous and/or unintended substances in human food and animal feed, such as 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 for adenosine triphosphate, a chemical found in living cells.
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