North Point Portfolio Managers Corp OH decreased its stake in Neogen Co. (NASDAQ:NEOG) by 0.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 164,454 shares of the company’s stock after selling 1,237 shares during the period. North Point Portfolio Managers Corp OH owned approximately 0.32% of Neogen worth $10,214,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC acquired a new stake in shares of Neogen in the second quarter valued at about $25,000. Brand Asset Management Group Inc. acquired a new stake in shares of Neogen in the first quarter valued at about $39,000. Manchester Capital Management LLC lifted its stake in shares of Neogen by 105.6% in the first quarter. Manchester Capital Management LLC now owns 590 shares of the company’s stock valued at $34,000 after purchasing an additional 303 shares during the period. Buffington Mohr McNeal acquired a new stake in shares of Neogen in the first quarter valued at about $43,000. Finally, Manchester Financial Inc. acquired a new stake in shares of Neogen in the second quarter valued at about $71,000. Hedge funds and other institutional investors own 88.13% of the company’s stock.
NASDAQ:NEOG traded up $2.44 during mid-day trading on Friday, hitting $71.05. 4,763 shares of the company’s stock traded hands, compared to its average volume of 269,539. The firm’s 50 day simple moving average is $65.99 and its 200 day simple moving average is $61.38. Neogen Co. has a 1 year low of $50.60 and a 1 year high of $97.38. The company has a market cap of $3.70 billion, a PE ratio of 61.43, a price-to-earnings-growth ratio of 5.80 and a beta of 1.38.
Neogen (NASDAQ:NEOG) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. The business had revenue of $109.80 million during the quarter, compared to the consensus estimate of $110.14 million. Neogen had a net margin of 14.53% and a return on equity of 9.86%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.33 earnings per share. Research analysts anticipate that Neogen Co. will post 1.22 earnings per share for the current year.
In related news, Director Jack C. Parnell sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $69.59, for a total value of $347,950.00. Following the sale, the director now directly owns 531,454 shares of the company’s stock, valued at $36,983,883.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John Edward Adent sold 31,489 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $69.03, for a total transaction of $2,173,685.67. Following the completion of the sale, the chief executive officer now directly owns 44,302 shares in the company, valued at $3,058,167.06. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 156,198 shares of company stock valued at $10,158,539. Insiders own 3.00% of the company’s stock.
Several analysts recently commented on NEOG shares. ValuEngine upgraded shares of Neogen from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Guggenheim assumed coverage on shares of Neogen in a report on Thursday, May 23rd. They set a “neutral” rating for the company. Zacks Investment Research downgraded shares of Neogen from a “hold” rating to a “sell” rating and set a $68.00 target price for the company. in a report on Friday, June 21st. BidaskClub upgraded shares of Neogen from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Finally, Craig Hallum raised their target price on shares of Neogen from $72.00 to $78.00 and gave the company an “in-line” rating in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Neogen currently has a consensus rating of “Hold” and a consensus price target of $73.00.
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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