Williams Jones & Associates LLC bought a new stake in shares of Neogen Co. (NASDAQ:NEOG) in the 1st quarter, Holdings Channel reports. The firm bought 4,066 shares of the company’s stock, valued at approximately $233,000.
Other large investors have also made changes to their positions in the company. Comerica Bank boosted its position in shares of Neogen by 1.8% during the first quarter. Comerica Bank now owns 91,316 shares of the company’s stock valued at $5,302,000 after buying an additional 1,638 shares during the period. Azimuth Capital Management LLC raised its stake in shares of Neogen by 2.4% during the first quarter. Azimuth Capital Management LLC now owns 19,415 shares of the company’s stock valued at $1,114,000 after acquiring an additional 450 shares in the last quarter. Conestoga Capital Advisors LLC raised its stake in shares of Neogen by 1.7% during the first quarter. Conestoga Capital Advisors LLC now owns 1,546,058 shares of the company’s stock valued at $88,728,000 after acquiring an additional 26,290 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Neogen by 2.4% during the fourth quarter. California State Teachers Retirement System now owns 78,767 shares of the company’s stock valued at $4,490,000 after acquiring an additional 1,830 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in shares of Neogen by 12.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 51,324 shares of the company’s stock valued at $2,925,000 after acquiring an additional 5,716 shares in the last quarter. Institutional investors and hedge funds own 90.13% of the company’s stock.
Several analysts have recently weighed in on NEOG shares. Zacks Investment Research downgraded shares of Neogen from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. Guggenheim started coverage on shares of Neogen in a research note on Thursday, May 23rd. They set a “neutral” rating for the company. BidaskClub downgraded shares of Neogen from a “hold” rating to a “sell” rating in a research note on Wednesday, May 22nd. Finally, Craig Hallum raised shares of Neogen from a “hold” rating to a “buy” rating and set a $62.76 price target for the company in a research note on Tuesday, March 19th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Neogen has an average rating of “Hold” and a consensus target price of $55.38.
In related news, VP Terri A. Morrical sold 7,600 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $61.69, for a total value of $468,844.00. Following the completion of the transaction, the vice president now owns 45,175 shares of the company’s stock, valued at $2,786,845.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Steven J. Quinlan sold 6,902 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $60.13, for a total transaction of $415,017.26. Following the completion of the transaction, the chief financial officer now directly owns 20,372 shares of the company’s stock, valued at approximately $1,224,968.36. The disclosure for this sale can be found here. Insiders sold 103,385 shares of company stock valued at $6,027,055 in the last three months. 3.00% of the stock is currently owned by insiders.
NASDAQ:NEOG traded up $0.64 during trading hours on Friday, reaching $62.23. The company’s stock had a trading volume of 9,203 shares, compared to its average volume of 203,925. The company has a market capitalization of $3.18 billion, a price-to-earnings ratio of 51.71, a price-to-earnings-growth ratio of 5.01 and a beta of 1.35. Neogen Co. has a 12 month low of $50.60 and a 12 month high of $97.38.
Neogen (NASDAQ:NEOG) last issued its quarterly earnings data on Tuesday, March 26th. The company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). The business had revenue of $97.70 million during 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 last year, the firm earned $0.32 EPS. As a group, equities analysts anticipate that Neogen Co. will post 1.12 earnings per share for the current fiscal year.
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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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