Private Harbour Investment Management & Counsel LLC trimmed its position in Neogen Co. (NASDAQ:NEOG) by 12.6% in the first quarter, HoldingsChannel.com reports. The firm owned 17,040 shares of the company’s stock after selling 2,465 shares during the quarter. Private Harbour Investment Management & Counsel LLC’s holdings in Neogen were worth $978,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Brand Asset Management Group Inc. bought a new position in shares of Neogen in the first quarter valued at $39,000. First Hawaiian Bank bought a new position in shares of Neogen in the fourth quarter valued at $26,000. Buffington Mohr McNeal bought a new position in shares of Neogen in the first quarter valued at $43,000. Captrust Financial Advisors increased its holdings in shares of Neogen by 47.0% in the fourth quarter. Captrust Financial Advisors now owns 970 shares of the company’s stock valued at $55,000 after buying an additional 310 shares in the last quarter. Finally, South Dakota Investment Council bought a new position in shares of Neogen in the fourth quarter valued at $74,000. Hedge funds and other institutional investors own 89.01% of the company’s stock.
In other news, Director Jack C. Parnell sold 9,883 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $56.98, for a total value of $563,133.34. Following the transaction, the director now directly owns 18,655 shares of the company’s stock, valued at $1,062,961.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Steven J. Quinlan sold 4,800 shares of the company’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $62.50, for a total transaction of $300,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 88,185 shares of company stock worth $5,137,655. Company insiders own 3.00% of the company’s stock.
Shares of NASDAQ:NEOG opened at $59.68 on Friday. Neogen Co. has a 12-month low of $50.60 and a 12-month high of $97.38. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 49.32, a PEG ratio of 5.28 and a beta of 1.33.
Neogen (NASDAQ:NEOG) last announced its earnings results on Tuesday, March 26th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.02). Neogen had a net margin of 14.96% and a return on equity of 10.48%. The firm had revenue of $97.70 million for the quarter, compared to analyst estimates of $102.55 million. During the same period last year, the firm earned $0.32 earnings per share. Neogen’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities research analysts anticipate that Neogen Co. will post 1.14 earnings per share for the current year.
Several research analysts have issued reports on the company. Zacks Investment Research cut Neogen from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. BidaskClub raised Neogen from a “sell” rating to a “hold” rating in a report on Tuesday, April 30th. ValuEngine raised Neogen from a “hold” rating to a “buy” rating in a report on Thursday, January 24th. Finally, Craig Hallum raised shares of Neogen from a “hold” rating to a “buy” rating and set a $62.76 target price on the stock in a research note on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $62.76.
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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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