Bell Bank trimmed its stake in shares of Neogen Co. (NASDAQ:NEOG) by 5.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,675 shares of the company’s stock after selling 276 shares during the period. Bell Bank’s holdings in Neogen were worth $268,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Norges Bank bought a new position in Neogen in the fourth quarter valued at $49,259,000. Wasatch Advisors Inc. grew its position in shares of Neogen by 23.4% in the 1st quarter. Wasatch Advisors Inc. now owns 2,597,553 shares of the company’s stock valued at $149,074,000 after acquiring an additional 492,494 shares during the period. WINTON GROUP Ltd grew its position in shares of Neogen by 1,880.2% in the 4th quarter. WINTON GROUP Ltd now owns 194,379 shares of the company’s stock valued at $11,080,000 after acquiring an additional 184,563 shares during the period. Raymond James Financial Services Advisors Inc. bought a new position in shares of Neogen in the 1st quarter valued at about $7,838,000. Finally, Eagle Asset Management Inc. bought a new position in shares of Neogen in the 4th quarter valued at about $7,461,000. Institutional investors and hedge funds own 90.13% of the company’s stock.
In other Neogen news, Director Jack C. Parnell sold 9,883 shares of Neogen stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $56.98, for a total value of $563,133.34. Following the completion of the sale, the director now owns 18,655 shares in the company, valued at approximately $1,062,961.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James L. Herbert sold 41,000 shares of Neogen stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $56.09, for a total transaction of $2,299,690.00. The disclosure for this sale can be found here. Insiders have sold a total of 103,385 shares of company stock valued at $6,027,055 in the last ninety days. 3.00% of the stock is currently owned by insiders.
Shares of NEOG stock opened at $61.10 on Thursday. The stock has a market cap of $3.09 billion, a P/E ratio of 50.50, a P/E/G ratio of 4.65 and a beta of 1.34. Neogen Co. has a 52 week low of $50.60 and a 52 week high of $97.38.
Neogen (NASDAQ:NEOG) last announced its earnings results on Tuesday, March 26th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.02). The company had revenue of $97.70 million for the quarter, compared to the consensus estimate of $102.55 million. Neogen had a return on equity of 10.48% and a net margin of 14.96%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.32 EPS. On average, analysts forecast that Neogen Co. will post 1.12 earnings per share for the current fiscal year.
A number of research analysts have recently commented on NEOG shares. BidaskClub downgraded shares of Neogen from a “sell” rating to a “strong sell” rating in a research report on Saturday, March 9th. Craig Hallum raised shares of Neogen from a “hold” rating to a “buy” rating and set a $62.76 target price for the company in a report on Tuesday, March 19th. Zacks Investment Research downgraded shares of Neogen from a “hold” rating to a “sell” rating in a report on Thursday, March 28th. Finally, Guggenheim initiated coverage on shares of Neogen in a report on Thursday, May 23rd. They set a “neutral” rating for the company. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $55.38.
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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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