King Luther Capital Management Corp reduced its stake in shares of Neogen Co. (NASDAQ:NEOG) by 0.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 953,999 shares of the company’s stock after selling 4,915 shares during the period. King Luther Capital Management Corp’s holdings in Neogen were worth $76,501,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. We Are One Seven LLC lifted its position in shares of Neogen by 188.2% during the 1st quarter. We Are One Seven LLC now owns 1,591 shares of the company’s stock valued at $107,000 after buying an additional 1,039 shares in the last quarter. World Asset Management Inc purchased a new position in Neogen in the 2nd quarter worth approximately $201,000. Concorde Asset Management LLC purchased a new position in Neogen in the 2nd quarter worth approximately $203,000. Cue Financial Group Inc. purchased a new position in Neogen in the 2nd quarter worth approximately $221,000. Finally, Ladenburg Thalmann Financial Services Inc. lifted its holdings in Neogen by 28.8% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,337 shares of the company’s stock worth $223,000 after purchasing an additional 747 shares in the last quarter. 89.48% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently commented on NEOG. ValuEngine raised Neogen from a “buy” rating to a “strong-buy” rating in a report on Friday, July 6th. BidaskClub cut Neogen from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 24th. Zacks Investment Research cut Neogen from a “hold” rating to a “sell” rating in a report on Thursday, May 31st. Finally, Craig Hallum boosted their price target on Neogen from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Wednesday, July 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $67.75.
NASDAQ NEOG opened at $90.70 on Thursday. Neogen Co. has a 12 month low of $51.48 and a 12 month high of $94.00. The company has a market capitalization of $4.84 billion, a P/E ratio of 74.96 and a beta of 1.36.
Neogen (NASDAQ:NEOG) last released its quarterly earnings data on Tuesday, July 17th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.03. Neogen had a return on equity of 11.97% and a net margin of 15.70%. The business had revenue of $109.29 million for the quarter, compared to the consensus estimate of $108.11 million. During the same quarter in the previous year, the company posted $0.24 EPS. The company’s revenue was up 10.6% compared to the same quarter last year. analysts anticipate that Neogen Co. will post 1.24 earnings per share for the current year.
In other Neogen news, insider James L. Herbert sold 39,000 shares of Neogen stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $81.78, for a total value of $3,189,420.00. Following the sale, the insider now owns 762,226 shares of the company’s stock, valued at approximately $62,334,842.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Terri A. Morrical sold 7,200 shares of Neogen stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $89.05, for a total value of $641,160.00. Following the completion of the sale, the vice president now directly owns 44,575 shares in the company, valued at approximately $3,969,403.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 281,450 shares of company stock worth $23,364,113. Corporate insiders own 3.00% of the company’s stock.
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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